Banking & Finance

Vice President Yemi Osinbajo has urged multilateral organizations to consider the huge obligations placed on African countries and adopt debt relief initiatives such as the Debt Service Suspension Initiative and the Common Framework for Debt Treatments. Delivering a special address at the virtual edition of the 2022 World Economic Forum (WEF) …

The Nigeria Deposit Insurance Corporation (NDIC ) has paid cumulative sum of ₦8.268bn to 443,946  depositors and ₦100.08bn to uninsured depositors of Deposit Money Banks in-liquidation. The Corporation which confirmed the various sums paid as of 30th September,2021 via its verified twitter handle, admonished the banking public to be wary …

The Chief Executive Officer of Financial Derivatives Company, Mr. Bismarck Rewane, is projecting that the Central Bank of Nigeria will devalue the naira along the parallel market rate which may settle at N565 against the dollar by the end of 2022. The FDC boss stated that spending on political campaign …

Ololade Omosan-Agie First Bank of Nigeria Limited is set hold its Nigerian Economic Outlook Webinar convened to reflect national and global economic trends that shaped 2021, whilst forecasting the economic outlook of 2022. The virtual event themed, “A rearview look at 2021, lessons learnt-Outlook 2022,” is scheduled by 1 pm …

Stanbic IBTC Holdings Plc announced on Tuesday that it had commenced the process of seeking regulatory approvals to establish a wholly-owned financial technology subsidiary to be known and referred to as Stanbic IBTC Financial Services Limited. It said in a statement that subject to receiving all required regulatory approvals, including …

FBN Holdings Plc has notified the Nigerian Exchange Limited and the investing public of the appointment of three new executive directors to the board of its flagship subsidiary, First Bank of Nigeria Limited. The new appointees are Olusegun Alebiosu as executive director, risk management and executive compliance officer; Oluwatosin Adewuyi …

Nigeria’s external reserve dipped $24.3 million in the first week of the year to close at $40.49 billion as of 7th January 2021. This represents a 0.06% decline when compared to $40.42 billion recorded as of the start of the week. This is according to data from the Central Bank …

The Central Bank of Nigeria is currently being faced with renewed pressures from the International Monetary Fund to weaken the naira and also increase its benchmark interest rate of 11.5 per cent. The advice does not only apply to Nigeria alone, as it also applies to other emerging economies with …

Ololade Omosan-Agie Residents of Ogun State who desire to own homes now have an opportunity to do so, courtesy of FCMB Group Plc. This is because the leading financial powerhouse has partnered with the Ogun State Government to provide affordable mortgage loans to subscribers of low-cost schemes. First City Monument …

Foreign investors appear to have boycotted the Nigerian market as capital importation has dropped by $4.08bn (N1.68tn) in one year, latest statistics have shown Between January and September 2020, total capital importation amounted to $8.55bn, data from the National Bureau of Statistics revealed. However, according to the latest capital importation …