Banking & Finance

The head of the World Trade Organization said there was a pathway for a global deal to get more COVID-19 vaccines to developing countries, despite a split over whether drugs firms should be stripped of their intellectual property rights.WTO Director-General Ngozi Okonjo-Iweala, speaking to reporters before joining discussions among leaders …

Oluwasina Phillip The Central Bank of Nigeria on Thursday announced its plans to launch its Digital Currency before the end of the year. The decision was one of the outcomes reached at the end of Thursday’s Bankers’ Committee Meeting, where it also assured of adequate foreign exchange supply to meet …

Ebuka Daniel The Development Bank of Nigeria (DBN) has reiterated its commitment to sustainability with a pledge to entrench positive environmental practices in its operations and amongst its stakeholders. The bank made this known at an event to mark this year’s World Environment Day 2021. Managing Director of the Bank, …

Ebuka Daniel The Naira has crashed at the parallel market to N502 per dollar after the Central Bank of Nigeria adopted the Nigeria Autonomous Foreign Exchange ( NAFEX) rate. The CBN had devalued the naira from N379 official rate to N410 close to the Investors’ & Exporter (NAFEX) Windows rate …

Oluwasina Phillip  The African Export-Import Bank (Afreximbank) is supporting the African Organisation for Standardisation (ARSO) to harmonise standards in the automotive sector in Africa in order to facilitate an accelerated development of the sector across the continent. The harmonised standards are to be adopted by individual African countries, facilitating cross-border …

Oluwasina Phillip African Export-Import Bank (Afreximbank) has announced the commencement of its African Medical Centre of Excellence (AMCE) project in Abuja, Nigeria. It will provide world-class care to both low and high-income patient groups across the continent. The Bank recently formalised its long-term collaboration with King’s College Hospital, London (KCH) …

The African Development Bank Group and the Securities and Exchange Commission (SEC) of Ghana today launched a $400,000 project to strengthen the development of Ghanaian capital markets. This follows the signing of a grant agreement to develop a risk-based supervisory solution for the local capital market. The grant, from the African …

Ebuka Daniel The Governor, Central Bank of Nigeria, Mr. Godwin Emefiele, has warned that henceforth banks will consider sustainable banking principles when lending money to individuals and corporate entities. He disclosed this on Thursday, while leading his deputies to plant trees at the CBN Head Office in commemoration of the …

Ebuka Daniel Over 620,000 direct and indirect jobs were created in two years as a result of the Central Bank of Nigeria’s (CBN’s) intervention in Cotton, Textile and Garment (CTG) sector. CBN Governor Godwin Emefiele made this disclosure in Abuja on Tuesday at a stakeholders’ engagement for the resuscitation of …

The Board of Directors of the African Development Bank Group has approved  $84.22 million in loans and grants to electrify nearly 80,000 rural households in south Rwanda. The project will advance the country’s goal of universal electrification and benefit small businesses and youth.   The funds comprise a loan of …