Banking and Finance

The World Bank has committed $8.5 billion to Nigeria to fund critical issues ranging from agriculture to education. Disclosing this on Thursday in Abuja during a summit organised by the Emergency Coordination Center, the World Bank Country Director to Nigeria, Shubham Chaudhuri, noted…

The Central Bank of Nigeria (CBN) has advised members of the organised private sector (OPS) to always ensure that they repatriate foreign exchange (FX) proceeds back to the apex bank in order to ease FX pressure in the country. Deputy Director, Banking…

The naira yesterday continued its recovery on the parallel market, appreciating to N660 per dollar a few days after security operatives raided Bureaux De Change (BDC) hub in Abuja. The nation’s currency had depreciated to about N715 to a dollar on the parallel…

The Nigeria Deposit Insurance Corporation (NDIC) yesterday warned the public about the high risk associated with investing funds with illegal fund managers. The caution came against the backdrop of the recent increase in investment channels arising from innovative products. The corporation noted that there…

The stock market plays an important role in mobilising domestic resources for productive investments. The stock market is regarded as an integral component of most economies since it signals the reallocation of assets among different economic units within an economy. The performance of the…

The United Bank for Africa Plc (UBA), Africa’s global bank, yesterday announced the appointment of Mr. Oliver Alawuba as its Group Managing Director. Alawuba is to oversee all the Group’s banking operations across its 20 African country network and globally in the United…

The Federal Inland Revenue Service (FIRS) has on many occasions cautioned the general public to be vigilant and circumspect not to deal with scam artists who pose as recruitment agents for the Service and collect huge sums of money from unsuspecting victims…

The Nigerian Exchange Limited (NGX) said it has raised over N72 billion for real estate companies in 10 years just as it plans to launch an initiative known as Impact Board to address the lingering housing deficit. Group Chief Executive Officer, Nigerian Exchange…

The Association of Bureaux De Change Operators of Nigeria (ABCON) has cautioned the Federal Government against policies that can worsen the impact of upward inflationary trend on the populace. ABCON gave this warning in its Quarterly Economic Review for the second quarter of…