Banking & Finance

Ecobank Transnational Incorporated (ETI) yesterday announced 334 per cent increase in its profit for the audited financial year ended December 31, 2021 to N146.3billion as against N33.7billion profit reported in the financial year ended December 31, 2020.  The audited results showed profit before tax gaining 174 per cent to N195.72billion …

The Central Bank of Nigeria (CBN) has disbursed N948 billion to 4,478,381smallholder farmers, to upscale food production in the country.  The CBN Governor, Mr Godwin Emefiele disclosed this in Ado-Ekiti while delivering the 25th and 26th combined convocation lecture of the Ekiti State University (EKSU), on Monday in Ado-Ekiti, Ekiti …

The Nigerian Labour Congress has faulted what it describes as the “stress and strain of outrageous deposit or investment targets” in Nigeria’s banking institutions. Speaking during the 2022 Delegates Conference of Nigeria Union of Banks Insurance and Financial Institutions Employees, the NLC President, Ayuba Wabba, described the practice as “modern-day …

Oluwasina Phillip Business Recovery and Insolvency Practitioners Association of Nigeria (BRIPAN) has pledged to partner with the Asset Management Corporation of Nigeria (AMCON) to advance the tenets of insolvency and business recovery practice in Nigeria. Mr Ayodele Akintunde SAN the President of BRIPAN who led a delegation of the executives …

The naira depreciated to N588 per dollar at the parallel market as the nation’s foreign exchange (forex) reserves dropped for the third consecutive time. Trading reports at the weekend showed that naira depreciated by 0.9 per cent to close at N588 per dollar at the parallel market, where most independent …

Oluwasina Phillip The Federation Account Allocation Committee (FAAC) has shared the sum of N590.546bn to the Federal Government, States and Local Government Councils for the month of February. The amount represents an increase of N15.8bn when compared to the N574.7bn distributed in the previous month of January.   This was …

The management of Central Bank of Nigeria will in the coming days meet with the Nigerian National Petroleum Company Limited and the Ministry of Finance, Budget and National Planning to improve the supply of Premium Motor Spirit following the supply gap created by the war between Russia and Ukraine. The …

Michael Uche The Board Chairman of the Nigeria Deposit Insurance Corporation (NDIC), Mrs Ronke Sokefun has stressed the need for women in leadership positions to encourage more women to join the table to ensure the number of women in management positions keep growing and consequently ensure its sustainability. She made …

The African Export-Import Bank on Friday in Cairo announced the finalization of a $207m facility granted by Nippon Export and Investment Insurance, the state-owned Japanese organization focused on trade and investment. The facility will support the Bank’s broader response measures to the Covid-19 pandemic, especially its financing efforts for the acquisition of …

Michael Uche The Governor, Central Bank of Nigeria, Mr. Godwin Emefiele, said the Bank has issued gender-mandated regulations to pave way for gender diversity and inclusiveness at the top management levels in the Nigerian banking industry, just as he declared that the CBN has since surpassed the affirmative action with …