Banking & Finance

Banks’ gross credit to the Nigerian economy rose to N23.5tn in November this year, according to figures obtained from the Central Bank of Nigeria. The CBN said in a new report that it strengthened the Loan-to-Deposit ratio policy, which he said had resulted in a significant rise in loans provided by …

The Central Bank of Nigeria has set aside over N5.7bn to give as loan to 10,000 farmers to encourage dry season wheat farming in Bauchi State. The CBN Comptroller, Bauchi Branch, Saladu Idris, who disclosed this at the flag-off of the programme at the NUJ Secretariat in Bauchi on Thursday, …

UTM Offshore, a Nigerian marine and services group, and the African Export-Import Bank have signed a Memorandum of Understanding to raise $2bn for the development of Nigeria’s first floating liquefied natural gas project. A statement issued in Abuja by the marine services group stated that the MoU was signed in …

Oluwasina Phillip Within the last five years covering 2016 to 2021, a whopping amount of N100bn has been provided by the Bank of Industry to finance Nigeria’s health care sector. The Managing Director, BoI, Mr Olukayode Pitan, disclosed this on Tuesday in Abuja at the Ground-Breaking event for the African …

Ololade Omosan-Agie Nigeria’s foremost Development Finance Institution, Development Bank of Nigeria Plc, has been awarded a level 5 rating, the highest possible rating in the Sustainability Standards Certification Initiative (SSCI) Project. The SSCI has become the reference programme for institutions that intend to take issues of sustainability initiatives seriously. Since …

The Governor of the Central Bank of Nigeria, Godwin Emefiele, has said the project aimed at revamping the National Arts Theatre is costing the Bankers’ Committee $100m. Emefiele said this at the ‘Arise Fashion 2021’ programme, which was organised by Arise News during the Dubai UAE Expo 2020 event in …

Oluwasina Phillip Nigerian Vice President Yemi Osinbajo who has been a critic of the Central Bank of Nigeria’s foreign exchange policy has said that the regulator needs to reassure foreign investors of the availability of mechanisms that would enable them to channel their resources with the least possible constraints.   The VP …

The Central Bank of Nigeria said that it had automated the Non-Commercial Exports form for stakeholders in the business sector. The CBN disclosed this in a circular, which was signed by the Director, Trade and Exchange Department, Dr O.S. Nnaji, and titled ‘Automation of Form NCX on the trade monitoring …

The Central Bank of Nigeria has urged the Federal Government to prioritise investment in infrastructure to improve the country’s business environment and boost economic growth. Mr Godwin Emefiele, the CBN Governor made the call Tuesday night in Abuja while reading the communique on the 282nd Monetary Policy Committee meeting of …

 Oluwasina Phillip In another deft strategy to intensify its debt recovery drive in the country, the Asset Management Corporation of Nigeria (AMCON) has submitted a list containing its top 1,000 obligors to the National Assembly. AMCON made the exposé to members of the House of Representatives Committee on Banking and …