Michael Uche Zenith Bank Plc says its gross earnings rose by 10 per cent to N765.6bn as of the end of December 2021, from N696.5bn recorded in the corresponding period of 2020. A statement by the bank said this was despite a challenging macroeconomic environment aggravated by the COVID-19 pandemic. …
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President Muhammadu Buhari has inaugurated the first Central Bank of Nigeria (CBN) internet-enabled branch in Lafia Nasarawa State. Speaking about the building when the President broke away from his Nasarawa State visit to commission the building, CBN governor Godwin Emefiele said the new branch “is one of the nine new …
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In line with the resolve of the Central Bank of Nigeria (CBN) to halt a regime of arbitrage in the foreign exchange market, some Nigerian banks have started exposing the identities of customers, who allegedly obtained dollars by false pretence, and traded them at a profit in the parallel market. …
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The Director General, Standards Organisation of Nigeria (SON), Mallam Farouk Salim, has harped on the need to support local industries if the country must attain its developmental targets. Salim made this remark during a courtesy visit to the multi-million dollar Gujeni Integrated Iron Ore Mining and Processing Plant (GIIOMPP), in Kagarko …
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The Development Bank of Nigeria ( DBN) has advanced more than N439 billion credit facility to over 180 businesses within four years of its existence with women and youth-owned businesses being the highest beneficiaries. The Managing Director/CEO of the bank, Mr. Tony Okpanachi, who made the disclosure during a visit of …
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The World Bank has sanctioned AIM Consultants Limited, a Nigerian consultancy company, and its Managing Director, Amin Moussalli, for alleged corrupt practices. The firm, which was involved in the Nigeria Erosion and Watershed Management Project, was sanctioned for 52 months for improper payment of N12.95m to certain projects officials. This …
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The Central Bank of Nigeria has encouraged Nigerians to embrace the use of eNaira and other programmes to grow Nigeria economy. The CBN Governor, Mr. Godwin Emefiele, who stated this at the end of two days CBN Fair on Friday in Asaba, said that the apex bank played an additional …
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Oluwasina Phillip African Export-Import Bank (Afreximbank) and the Revolutionary Government of Zanzibar have agreed to collaborate to industrialize and diversify Zanzibar’s economy by pursuing a sustainable and inclusive economic growth underpinned by a robust blue economy with cross linkages to priority sectors, such as, agro-processing, fisheries and aquaculture, marine trade, …
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The currency in circulation rose by N418bn to N3.33tn as of December 31, 2021, from N2.91tn a year earlier, according to the Central Bank of Nigeria. The CBN data showed that the currency in circulation increased by 19.06 per cent from N2.44tn at the end of December 2019. In its …
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The International Monetary Fund (IMF) has noted that the non-oil sector of the Nigerian economy could be stronger, benefitting from its recent growth momentum, higher production from the new Dangote Refinery, and supportive credit policies. In IMF’s Executive Board 2021 Article IV Consultation with Nigeria released recently, the global organisation …
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