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Banking/Investments

Banking/Investments

FCMB boost SMEs cashflow with e-invoicing

First City Monument Bank Limited says it has introduced a tracking and reconciliation solution with electronic invoicing capabilities for Small and Medium-scale Enterprises. The bank said in a statement that the ‘FCMB e-invoicing’ was a unique payment offering, designed to…

External reserves hit 11-year low to $24.21bn

The country’s external reserves have hit an 11-year low of $24.21bn, according to the latest data posted at the official website of the Central Bank of Nigeria yesterday. Analysts say the development means a limited amount of dollars will be…

Oyo/Osun Command of Nigerian Customs hits N11 billion in 9 months

Operatives of the Nigeria Customs Service (NCS) working at Oyo/Osun Area Command has generated a whooping sum of N11,147,238,490.32 between the months of January and September this year. The Customs Area Controller, Mr. Temitope Ogunkua who disclosed in Ibadan yesterday…

Financial pundits mull synergy between monetary, fiscal policies to ease recession

Leading financial analysts yesterday called for harmonisation of monetary and fiscal policies to effectively tackle the current recession in the country. Currently, the Central Bank of Nigeria (CBN) manages monetary policies, while the Federal Ministry of Finance manages fiscal policies….

Bank customers can now deposit cheques using smartphone

Bank customers can now deposit cheques from their phones through iTeller Mobile Cheque Truncation solution launched by Precise Financial Systems (PFS). PFS is Nigeria’s leading financial software company, at the ongoing GITEX Conference in Dubai, United Arab Emirate.   The global…

FIRS shuts Lafarge office in PH, IGPES facility for tax defaults

As parts of renewed efforts to deepen tax collection, stern-looking enforcement officers from the Federal Inland Revenue Service (FIRS), Abuja stormed Rivers State yestderday and sealed off Lafarge in Onne and IGPES in Port Harcourt for alleged tax evasion. The…

Again, 27 states struggling to pay salaries as NASS seeks report

Just as President Muhammadu Buhari, yesterday decried that about 27 of the 36 states in the country are still battling with payment of salaries, the Senate Committee on banking and Financial Services has ordered the Central Bank of Nigeria (CBN)…

Chukwu, others give antidote on early recovery of naira

Leading financial services advisor and Managing Director of Cowry Assets Management Limited, Mr. Mr. Johnson Chukwu has advised the Federal Government to seek bilateral or multilateral loans to buffer the currency since the apex bank has shown inability to act…

115 abandoned skyscrapers, others in VI, Ikoyi may be auctioned—LASG

Lagos State government has compiled a list of more than 115 abandoned properties in Ikoyi and Victoria Island. This is to find out from the owners plans they have for them or government may either demolish them for safety reasons…

N1tn social housing scheme underway, says FG

The Federal Government has said it is working out modalities with the private sector to raise N1 trillion for the financing of housing mortgages for low-income earners. This will ride on the back of social housing programme of the present…