Stanbic IBTC Bank offers SMEs new services
Stanbic IBTC Bank has said it introduced a new banking product to help small and medium-scale enterprises save on cost and optimise their revenues. According to a statement, the product, Biz-Smart Account, enables enterprises open and operate the…
CIBN Seeks Speedy Passage of FSS 2020 Bills
The Chartered Institute of Bankers of Nigeria (CIBN) has called on the Senate to urgently pass the Financial System Strategy (FSS 2020) Bills into law in order to promote financial inclusion and strengthen electronic payment system in the country….
AfDB’s new Africa Investment Forum moves to explore PPP model
In a move which seeks to attract investment and public-private partnership (PPP) aimed at transforming and developing the continent, the African Development Bank (AfDB) has launched what it calls the Africa Investment Forum (AIF). Speaking at the formal launch of
ILO, AFDB To Partner On Employment, Effective Labour Migration In Africa
The heads of the International Labour Organisation (ILO) Regional Office for Africa and the African Development Bank (AfDB) have agreed to enhance cooperation between the two institutions, particularly on decent jobs for youth, labour migration and mobility…
Will the $2.5bn currency deal with China solve forex liquidity problem?
Mr. Rislanudeen Mohammed (Managing Director, Safmur Investments Limited) IN the context of minimising concentration risk of having our foreign exchange denominated in United States dollar alone, this is a positive development. Secondly, in view of our…
CBN Boosts Foreign Exchange Market With $210m
In another round of intervention, the Central Bank of Nigeria (CBN) on Tuesday injected 210 million dollars into the inter-bank Foreign Exchange Market to boost liquidity in the system. The acting Director, Corporate Communications, Mr Isaac Okorafor, in…
NIRSAL to train banks on agric value chain financing
The Nigerian Incentive-based Risk Sharing System for Agricultural lending (NIRSAL) has mapped out modalities to train Agriculture Desk Officers of commercial banks and other key stakeholders in Value Chain Finance so as to guarantee food sufficiency in Nigeria.
Treat Naira with care – CBN
The Central Bank of Nigeria (CBN) has once again called on Nigerians to handle the Naira with care, as it was a symbol of the nation’s identity and pride. The Deputy Governor, Corporate Services Directorate, Mr Edward Adamu, reiterated this on Tuesday…
At 12.48%, Nigeria records 26-months low inflation, nears CBN’s target
At 12.48 percent, Nigeria’s inflation, in April 2018, recorded the lowest rate in 26 months as both food and core items equally trended downwards. The inflation number, according to the National Bureau of Statistics (NBS) was 0.86 percent points less than the…
Niger: 11, 578 Women, Youths Benefit From N2bn CBN/MSME Devt Fund
Niger State commissioner for Commerce and Investment, Hon Mudi Mohammed, has disclosed that no fewer than 11,578 women and youths in the state have benefited from the Central Bank of Nigeria N2 billion Micro, Small and Medium Enterprises Development.
CBN, others’ll play key role in cryptocurrencies’ use’
The Central Bank of Nigeria and other African countries’ central banks will play an important role in promoting the use of blockchain technology and cryptocurrencies in the future, a financial expert and Chief Operating Officer of United Digital Currency Reserve…
Police Officer Killed in Bank Robery in Ekiti
A police officer was reportedly killed in Ilawe Ekiti, Ekiti Southwest Local Government on Tuesday during a bank robbery operation in the town. The yet-to-be-identified policeman, according to sources, was an orderly attached to one of the council bosses…
Appraising impacts of Nigerian Banks’ exit from offshore operations
One of the fall-outs of the reforms that hit the Nigerian Banking sector in 2006 was a situation where most banks found huge capitals in the vaults and were looking for avenues to invest it. Before the consolidation exercise the banking system was
Jaiz Bank’s 161% profit growth excites shareholders
Shareholders of Jaiz Bank Plc have said that the 161 per cent growth in the bank’s profit from N343.02m in 2016 to N894.01m in 2017 is an indication that the strategies put in place by the management of the bank have started yielding results. They said this at the..
Experts proffer tech solutions to data quality, risk and finance integration in African banks
As one of the most regulated industries in the world, banks are under pressure to not only comply with constantly changing regulations but also to modernise their systems, so that they can reduce compliance costs, improve efficiency and effectiveness in risk…
Expert urges Banks to utilise technology in risk mgt
Banks across the country have been admonished to utilise technology in their operations, so as to achieve efficiency and effectiveness in risk management processes and stay competitive in the age of the Fintech. Charles Nyamuzinga, Senior Business…
