CBN, fiscal team meeting on recession to end today in Abuja
The strategy development meeting of the Central Bank of Nigeria (CBN) that started yesterday will end today with the hope of coming up with a flexible solution capable of easing recession. The two-day meeting began in Abuja on Thursday under…
Adeosun opens up on how FG will appropriate $29.96bn loan
As a way of running away from the barrage of criticisms trailing the revelation by the Federal Government that it will in the next three years, borrow $29.96bn from three major international lenders, the Minister of Finance, Mrs Kemi Adeosun…
Relief as naira appreciates on liquidity boost
The Naira yesterday appreciated at the forex market barely 24 hours after liquidity challenges forced it to depreciate thrice in six hours. Naira gained five points to close at N465 at the parallel market, from N470 it traded on Wednesday,…
House probes AMCON’s N2.4trn unpaid debts
The House of Representatives Thursday mandated its Committee on Banking and Currency to investigate the non-liquidation of N2.473 trillion owed the Assets Management Corporation of Nigeria (AMCON). The Committee, which is to fully investigate the failure of “obligors” and debtors…
Zenith Bank’s profit before tax grew by 16.6%
Zenith Bank Plc has posted a profit after tax of N121 billion in its results for the nine months ended September 30, 2016, indicating growth in profit before tax by 16.6 per cent. The result released by the bank to…
First Bank, Travelex impacts fail to help naira, weakens to N470 on renewed shortage
The recent fiscal policy tumble that produced First Bank and Travelex as lead dealers in forex has signaled failure at the parallel market Wednesday. Otherwise, the naira tumbled to 470 against the United States dollar yesterday; down from 455 on…
Bank of Ghana considering CBN’s policy on BVN
Signals have emerged that the gains made by the Central Bank of Nigeria (CBN) in driving Biometric Verification Number (BVN) in the country, may have excited the Bank of Ghana as it begins the process of incorporating BVN in all…
Stakeholders endorse Jaiz Bank’s listing at NSE
Nigeria’s first non-interest bank, Jaiz Bank Plc, is now set to be listed and traded on the floor of the Nigerian Stock Exchange following the massive approval given by shareholders Wednesday to list on the floor of the Nigerian Stock…
Senate radar on Customs over revenue leakages as Adeosun decries rot
The Senate on Wednesday embarked on what it described as a comprehensive probe into the activities of the Nigeria Customs Service (NCS) to block revenue leakages and enhance generation. This as the Minister of Finance Mrs. Kemi Adeosun has decried…
FirstBank wins Global Finance Digital Bank of Distinction award
First Bank of Nigeria Limited has won the Global Finance Digital Bank of Distinction award, 2016. In a statement, the bank said the new award recognizes outstanding accomplishments in digital banking made by middle-market and local banks. It honours banks…
