Banking & Finance

Ebuka Daniel The Nigerian Communications Commission on Friday alerted millions of Nigerian telecom consumers of the existence of new, high-risk and extremely-damaging, Malware called Flubot. A malware is a generic word used to describe a virus or software, designed specially to disrupt, damage, or gain unauthorized access to a computer …

Ololade Omosan-Agie The Minister of Finance, Budget and National Planning, Zainab Ahmed, has said that the ministry is discussing with the Central Bank of Nigeria on reducing the gap between the official rate and the parallel market rate. Ahmed’s comment is in line with the ongoing debates on the fate …

The Central Bank of Nigeria (CBN) has said Nigerians without Internet-enabled or Android phones will still make transactions on the eNaira platform. According to the apex bank, eNaira was developed based on simplicity and ease of use to ensure that Nigerians without internet-enabled phones can access the service. It explained …

Ololade Omosan-Agie The Nigeria Deposit Insurance Corporation (NDIC) is evolving strategies to ensure swift resolutions in the event the Central Bank of Nigeria (CBN) revokes the licence of a distressed and insured financial institution. The Managing Director, NDIC, Bello Hassan who stated this at the 2021 Finance Correspondents Association of …

Oluwasina Phillip The Central Bank of Nigeria on Wednesday released the guidelines for the implementation of the Tertiary Institutions Entrepreneurship Scheme (TIES). The CBN said in the guidelines that the scheme was pursuant to the CBN Act, 2007 and in line with its policy measures to address rising youth unemployment …

Ebuka Daniel Fidelity Bank has said that it is planning to raise $500m from the International Capital Market. The lender said on Monday in a document sent to the Nigerian Exchange Limited. The development is coming after Access Bank Plc raised $1.6bn from the $500m Senior Unsecured Euroband it initially …

Ebuka Daniel A vibrant creative and cultural sector will generate employment for Africa’s youth, attract foreign exchange inflows, and stimulate other industries such as tourism, the President of the African Development Bank, Dr Akinwumi Adesina has said. Adesina said this in a speech delivered at the African Creative and Cultural …

Ebuka Daniel The President/Chairman of Council, the Chartered Institute of Bankers of Nigeria (CIBN), Dr. Bayo Olugbemi, has expressed the commitment of the institute in building legacy projects in six institutions across the six geo-political zones of the country. Olugbemi, who made the disclosure Monday at the groundbreaking ceremony of …

Ebuka Daniel The Bank of Industry and the Ebonyi State Government, have sealed a Memorandum of Understanding on the program execution and management of funds for the Nigeria COVID-19 Action Recovery and Economic Stimulus (NG-CARES). The MoU signing ceremony which took place at the BOI House in Abuja further demonstrates …

The World Bank Lead Economist in the Middle East and North Africa region’s Poverty Reduction and Economic Management Group, Tara Vishwanath, has described the goal of the Nigerian President, Major General Muhammadu Buhari (rtd.), to lift 100 million Nigerians out of poverty in 10 years as ambitious. Vishwanath said this …