CBN - TSA Transaction Value Hits 13.53 trillion; Balance Of Payment Drops To $4.5 billion And Other Banking News : Nigerian Banker | Expanding your knowledge about Banking and the Economy

Nigeria’s Balance of Payments deteriorates to $4.5b – CBN

The Central Bank of Nigeria (CBN) yesterday said that the nation’s Balance of Payments deteriorated to deficit of $4.5 billion in the third quarter of the year (Q3’18) from $503 million surplus in the second quarter of the year (Q2’18)…

TSA Transaction Hits 13.53trn, Says CBN

The Central Bank of Nigeria (CBN) says the migration of the Federal Government Ministries, Departments and Agencies (MDAs) to the Treasury Single Account (TSA) has led to positive growth in the value and volume of transactions recorded in the end to end…

Union Bank Organises Capacity Building Programme for SMEs

In a move that will strengthen the nation’s SME sector, Union Bank has engaged operators in the sector in a capacity development programme. At a seminar, themed, ‘Managing a Successful Small Business’,organised for operators across the country, the bank’s Head of…

World Bank’s $495m Irrigation Funds Will Improve Nigeria’s Economy, Says FG

The Federal Ministry of Water Resources has revealed the economic values of the $495 million credit facility the World Bank gave in support of the Transforming Irrigation Management in Nigeria Project (TRIMING). A document obtained by THISDAY from the…

Nigeria largest recipient of Afreximbank’s facilities of $17bn, says Oramah

Nigeria is said to be the largest recipient of African-Export-Import Bank (Afreximbank) `s facilities, with the total commitments during the last two decades exceeding $17 billion. Benedict Oramah, President of Afreximbank, who said this at the inaugural Intra-…

Trustbond Mortgage shareholders applaud as bank’s PAT rises 13%

Shareholders of Trustbond Mortgage Bank Plc have commended the financial performance of the bank for the year ended December 31, 2017 during which its profit after tax from continuing operation rose about 13 percent to N23,443 million, up from…

Ex-bank MD bags 19 years for N29m fraud

A Federal High Court in Lagos on Friday sentenced a former acting managing director of Century Microfinance Bank Limited, Olise Robinson, to 19 years imprisonment for stealing N29 million from the bank. Justice Okon Abang convicted Robinson of five counts…

3,534 IDPs Receive Over N708M World Bank Assisted Grant In Gombe

3,534 Internal Displaced Persons (IDPs) in Gombe state who are willing to return to their respective ancestral home are to benefit from a N200,000 Targeted Grant Transfer (TGT). The intervention was released through the World Bank assisted intervention grant under..

States Soon To Access World Bank’s $750m Loan, Grant – FG

The Federal Government has disclosed that 36 state governments and the Federal Capital Territory, FCT, will soon access World Bank’s $750 million loan and grant facility. This was made known by the Minister of Finance, Zainab Shamsuna Ahmed, while addressing…

AfDB, Big Win Philanthropy, Dangote Foundation launch plan to improve child nutrition, fight stunting

Working with Big Win Philanthropy and Aliko Dangote Foundation, the African Development Bank has unveiled a new Multi-Sectoral Nutrition Action Plan that aims at raising investments towards reducing stunting by 40 percent in African children under…