Banking & Finance

Ebuka Daniel In its drive to ensure the digital financial inclusion of women and youth across Nigeria, the Central Bank of Nigeria (CBN) and its stakeholders are billed to engage target groups in selected States in order to facilitate their economic empowerment and inclusion. A statement from the CBN noted …

Ebuka Daniel Guaranty Trust Holding Company Plc has lost billions after profit and interest income declined in September 2021 when compared to the figures recorded in the first nine months of 2020. The tier-one lender reported 19 per cent slide in interest income to N178bn from N219.5bn which it generated …

Oluwasina Phillip Exactly four days after billionaire businessman, Femi Otedola, emerged as the highest shareholder of FBN Holdings, the Chairman of the Group, Mr Tunde Hassan-Odukale, has been confirmed as the largest single shareholder of the company. Hassan-Odukale was named in a letter published on the website of the Nigerian …

Ololade Omosan-Agie The Central Bank of Nigeria has disassociated itself from a social media handle (@enaira_cbdc) parading as the official handle of the bank. The warning is coming less than three days after the formal launch of the Central Bank Digital Currency unveiled by President Muhammadu Buhari. The alleged Twitter …

Oluwasina Phillip Stanbic IBTC Holdings Plc has announced 40 per cent drop in profit in its nine months ended September 30, 2021 unaudited result and accounts. The company’s result made available by the Nigerian Exchange Limited (NGX) showed a Profit after tax of N39.9 billion in nine months of 2021 …

Ebuka Daniel President Muhammadu Buhari on Tuesday in Riyadh, Saudi Arabia, said initiatives to drive the digital economy and fight corruption in the country should give investors “a lot of comforts”. Among the initiatives mentioned by the president are e-Naira, Treasury Single Account, Bank Verification Number, and National Identification Number. …

Oluwasina Phillip The Central Bank of Nigeria has integrated 33 Banks into the eNaira platform with N500m successfully minted by the apex bank for the take off of the digital currency programme. The CBN Governor, Mr Godwin Emefiele, said this on Monday at the official launch of the Nigerian Central …

Ololade Omosan-Agie A former President of the Republic of Ghana, John Mahama will be opening the 3rd annual edition of the African Economic Congress scheduled to hold virtually from 1st -3rd November 2021. The Founder/ Convener of the African Economic Congress, Nancy Nnaji said that the 2021 edition of the …

Ololade-Omosan-Agie President Muhammadu Buhari will on Monday, October 25 formally unveil the Nigerian Central Bank Digital Currency (CBDC), known as the eNaira, at the State House, Abuja.  The Director, Corporate Communications Department of the CBN, Osita Nwanisobi, confirmed the development. The launch of the eNaira is a culmination of several …

Oluwsina Phillip The International Monetary Fund has said that the uncertainty in Nigeria’s foreign exchange market contributed to the decline in diaspora remittance flows into the country. The Director, African Department, IMF, Abebe Selassie, said this while responding to a question during the virtual IMF October 2021 Annual Meeting’s press …