Category Archives: Finance

NDIC Bags Excellence in Banking Service Award

The Nigeria Deposit Insurance Corporation (NDIC) has been conferred with the special recognition and commendation award for excellence in banking service at the Business Day banking awards 2017. In a statement by Mr. Bakare, a letter of commendation to the

Zenith Bank Nigeria Plc Total Assests Hit N5.1trn

Zenith Bank’s total assets increased to N5.1trillon from N4.7trillion as at September 30, 2017. With about 40 per cent increase in gross earnings to N531.27 billion, Zenith Bank Plc on Thursday announced 31 per cent growth in Profit Before Tax

$5.5b loan: Debt Service Cost To Rise above 62%, says RenCap

The Federal Government of Nigeria’s plan to borrow $5.5 billion through Eurobonds will raise the country’s debt service to revenue cost beyond 62 per cent, Sub-Saharan Africa Economist at Renaissance Capital (RenCap) Yvonne Mhango has predicted. The investment and research

Nigeria Banks To Start Monitoring Customers’ Accounts

The Central Bank of Nigeria (CBN) has directed deposit money banks and other financial institutions to monitor accounts of customers where fraudulent activities are suspected. According to a regulatory framework for BVN operations and watch-list for the banking industry released

CBN Releases Regulatory Framework for BVN

The Central Bank of Nigeria (CBN) has released the approved regulatory framework for Bank Verification Number (BVN) and watchlist operations for the banking industry. The framework, which was posted on the apex bank’s website yesterday, provides standards for BVN operations.

Nigeria Law Makers Probes TCN’s $1.5bn, $500m Foreign Loans

The House of Representatives has queried loans totalling $1. 5bn taken from foreign creditors by the Transmission Company of Nigeria . This is in spite of a separate $500m loan, which the power firm is already negotiating with the Islamic

CBN Releases N501bn For Commercial Agric Credit Scheme

The President Muhammadu Buhari administration has released a huge some of money as investment in agribusiness in a conscious move to diversify the local economy. CBN, Godwin Emefiele The Central Bank of Nigeria (CBN) has so far released a total

London Stock Exchange CEO To Steps Down By End of 2018

LONDON STOCK EXCHANGE boss Xavier Rolet is to step down by the end of 2018 after nearly 10 years as Ceo. The LONDON STOCK EXCHANGE said it is launching the search for his successor and will “work closely” with Mr

World Bank Disagrees with Nigeria’s Finance Minister on Borrowing … says Cost of Debts not Sustainable

The World Bank has disagreed with the Minister of Finance, Mrs. Kemi Adeosun, on the need for the Federal Government of Nigeria to borrow more in order to develop the nation’s infrastructure and stimulate the economy. The World Bank spoke

UK Car Loan Slumps Could Leave Lloyds £11billion E.

UK Car loan slumps could leave Lloyds £11billion exposed according to JPMorgan analysts Bnce lending binge by Lloyds has left it dangerously exposed to a downturn in the market, experts warn. Britain’s banks collectively have £24billion of exposure to motor

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