Category: FINANCE

  • How FAAC overpaid states N10bn in bailout funds — Auditor-General

    How FAAC overpaid states N10bn in bailout funds — Auditor-General

    Office of the Auditor-General of the Federation has revealed that the Federation Accounts Allocation Committee, FAAC, overpaid states N10bn in bailout funds. President Muhammadu Buhari had approved the release of the funds in 2015 to help governors pay salaries in their various states, a loan facility that the states are expected repay over a period […]

  • SMEs to benefit from $750m single digit loan

    SMEs to benefit from $750m single digit loan

    SMEs to benefit from $750m single digit loan: The Managing Director, Bank of Industry (BOI), Mr. Olukayode Pitan has said the $750m loan facility received by the BOI would be disbursed to Micro, Small and Medium Enterprises at single digit interest rate. Pitan in an interview with The Guardian at the AFREXIM Bank Annual Meetings […]

  • PayStack partners Truecaller to enable more African businesses accept online payments

    PayStack partners Truecaller to enable more African businesses accept online payments

    Paystack has partnered with Truecaller to allow more merchants across Africa accept payments online in a frictionless and secure manner by leveraging Truecaller’s mobile identity product, the SDK. The partnership will also provide powerful tools that businesses and startups across Africa can use to verify the mobile identity of their customers, and in turn, further […]

  • CSR: Nigeria Port Authority empower 50 young women in Kaduna

    CSR: Nigeria Port Authority empower 50 young women in Kaduna

    CSR: Nigeria Port Authority empower 50 young women in Kaduna: As part of its Corporate Social Responsibility, (CSR), the Nigeria Port Authority NPA has empowered 50 young women between the ages of 20 to 35 years in baking and event decoration business skills in Kaduna. Speaking at the launching of the NPA’s Cooperate Social Responsibility […]

  • CBN, FMDQ boost market confidence with fixed income settlement solution

    CBN, FMDQ boost market confidence with fixed income settlement solution

    “CBN, FMDQ boost market confidence” Securities Exchange, through the Central Bank of Nigeria (CBN), and the Financial Markets Dealers’ Association (FMDA), have established Straight-Through-Processing (STP) for the settlement of fixed income trades. With the support of the CBN and the FMDQ Dealing Member (Banks), FMDQ, on Friday, successfully deployed a fixed income market STP settlement […]

  • Forex: CBN approves wider margin of N357/dollar sale for BDCs

    Forex: CBN approves wider margin of N357/dollar sale for BDCs

    ..Operators say move will harmonise rates. The Central Bank of Nigeria (CBN) has approved an upward review of the trading margin available to operators of Bureau de Change (BDC) in the country. The BDC operators are now to buy the United States dollar from the apex bank at the rate of N357/$1 and sell at […]

  • Understanding the African Continental Free Trade Area Agreement

    Understanding the African Continental Free Trade Area Agreement

    Understanding the African Continental Free Trade Area Agreement: In 2012, the African Heads of State and Governments resolved to establish AfCFTA treaty to create a single continental market for goods and services in member nations of the African Union, with free movement of business persons and investments using a single currency. Consultations and negotiations for […]

  • Auto loan debuts with discounts for SMEs

    Auto loan debuts with discounts for SMEs

    Sterling Bank Plc has unveiled a partnership deal with Tata Africa Services Limited to provide auto loan scheme which offers free spare parts and attractive discounts to business owners in Lagos. READ MORE: Forte Oil reverses self, list upstream services, power businesses for sale Speaking during the unveiling ceremony by senior officials of Sterling Bank and […]

  • How new investor can access stock market —ASHON

    How new investor can access stock market —ASHON

    How new investor can access stock market : As part of its efforts to bring investment education to the doorstep of every Nigerian, Association of Stockbroking Houses of Nigeria (ASHON) has unfolded strategy on how a new investor can access the stock market for investment opportunities. Besides, ASHON is warming up to renew its enlightenment […]

  • Dangote plans N30 billion institute for local artisans

    Dangote plans N30 billion institute for local artisans

    Dangote plans N30 billion institute for local artisans: Irked by the dearth of artisans in the construction sector, the Dangote Group is to spend about N30billion in the next five years in training 500,000 artisans in the construction industry. The move according to the Chief Executive Officer of Dangote Group, Alhaji Aliko Dangote, is to […]

  • GEM showcases success stories at W/Bank exhibition

    GEM showcases success stories at W/Bank exhibition

    GEM showcases success stories at W/Bank exhibition: Small businesses that have benefited from a World Bank support grant were given the opportunity to showcase what they have done to the general public. A World Bank Mission, comprising 10 executive directors, came to Nigeria to conduct series of visits and events around the country. During the […]

  • NANTS: Nigeria-China Currency Swap, Commendable, But Requires Caution

    NANTS: Nigeria-China Currency Swap, Commendable, But Requires Caution

    The National Association of Nigerian Traders (NANTS) has examined the recent Nigeria-China currency swap deal, which has been in the pipeline since 2016 and was finally consummated on April 27, 2018. We recall specifically that that on April 13, 2016, the Central Bank of Nigeria (CBN) and the Industrial and Commercial Bank of China Ltd […]