Okonjo-Iweala appointed advisory member of AIIBank
Former Nigerian Minister of Finance, Mrs Ngozi Okonjo-Iweala, has been appointed a member of the international advisory panel of Asian Infrastructure Investment Bank. The AIIB Senior Communication Officer, Mr. Song Liyan, in a statement on Friday, announced that Okonjo-Iweala would…
FCMB rakes in average of 53,000 new customers’ monthly—Corporate chief
The, Group Head, Corporate Affairs of First City Monument Bank (FCMB), Mr. Diran Olojo, has revealed that the bank now welcomes about 53,000 new customers on a monthly basis. He said the feat is possible due to the bank’s rising profile…
Forex: Experts speculate stable naira early next week
If the views of currency watchers are anything to go by, the naira is expected to be stable at the official interbank and parallel markets next week following the sale of $313m by the Central Bank of Nigeria (CBN) to…
Recession bites harder as FG’s revenue dips by N90.27bn, 3 tiers share N420bn
The federal Ministry of Finance has said federation income dipped by N90.27bn for the month of September. Figures released by the Federation Accounts Allocations Committee after its meeting in Abuja Friday showed that the total amount realised for September stood…
Dangote seeks tax reliefs for SMEs
leading indigenous industrialist and President of Dangote Groups, Alhaji liko Dangote, yesterday urged government at all levels to reduce the multiple taxes placed on small and medium businesses. Dangote in a statement in Lagos, said that the small and medium…
Analysts suspect IMF’s claim on Nigeria as Africa’s biggest economy
The recent affirmation by the International Monetary Fund (IMF) that Nigeria is the biggest economy in Africa has increased its average Cumulative Productivity Index (CPI) forecast for 2016 to 14% from 11% in 2015 has started to elicit reactions from…
GTBank grosses profit by 59% to N120bn in 9 months
Leading digital and innovative money deposit bank, Guaranty Trust Bank Plc yesterday reported a gallop of 59 per cent in profit after tax (PAT) to N119.9 billion, following a major boost from foreign exchange (FX) revaluation gains. The unaudited results…
CBN ready to guarantee Letters of Credit for importers
The Central Bank of Nigeria (CBN) will in the next few months, fund the 60-day forward sales and request from the agricultural, aviation, machinery and raw materials sectors. The deal will guarantee letters of credit for importers to ship in…
Renewal coming as NASS passes North-East Development Commission Bill
Apparent official respite is now heading the way of North-Eastern states following the passage of the bill seeking for the establishment of North East Development Commission (NEDC). The bill passed by the Senate when assented by the President, will ride…
MAN observes foul play in forex allocation by commercial banks
Two month after the federal government ordered the dedication of 60% allocation of forex to manufacturers to boost export driven diversification, operators in the manufacturing sector are alleging sharp practices and favouritism among banks in the allocation of foreign exchange…
