Banking and Finance

The Central Bank of Nigeria (CBN) says it will improve access to finance and credit for households, small and medium-sized enterprises (SMEs) in 2022. Godwin Emefiele, CBN governor, said this at an event held recently in Lagos. He emphasised the need for all stakeholders…

Analysts have predicted that the federal government would sustain borrowing in 2022 as data obtained from the Central Bank of Nigeria (CBN) showed primary market auction rose significantly by 162 per cent in 2021 compared to the previous year. With the federal government’s…

The Board of Directors of the African Development Bank Group has approved an equity investment pool of €10.5m to drive technological innovation across sub-Saharan Africa. The AfDB announced this in a statement titled ‘African Development Bank Group Board approves €10.5m pooled investment in…

A former Deputy Governor of the Central Bank of Nigeria, Tunde Lemo, has said his shareholding in Titan Trust Bank Limited, which is acquiring a majority stake in Union Bank of Nigeria Plc, is very small. Lemo, the chairman of Titan Trust Bank…

Titan Trust Bank ‬Limited (TTB) ‭has become the majority shareholder in Union Bank of Nigeria Plc. This followed an agreement by ‭Union Global Partners Limited, ‬Atlas Mara Limited ‭and other majority shareholders to‬ divest 88.39 per cent shareholding in Union Bank ‭to‬…

Following rising complaints from customers of commercial banks in Nigeria over incidences of multiple and indiscriminate charges and debits on their accounts, the Central Bank of Nigeria (CBN) has promised to ensure that affected customers get redress on their complaints. A spokesman…

Nigeria’s apex capital market regulator, Securities and Exchange Commission (SEC), will commence charging regulatory fee on fixed income secondary market transactions with effect from January 1, 2022. In a circular released yesterday, SEC stated that the commencement of regulatory fee on bonds and…

The Board of Directors of the African Development Bank, AfDB, has approved a loan of $170 million to finance a digital and creative enterprises program in Nigeria. The investment in Digital and Creative Enterprises Program, i-DICE, is a Federal Government of Nigeria initiative…

The World Bank has approved a 700 million dollar credit from its International Development Association, IDA, for the Nigeria Agro-Climatic Resilience in Semi-Arid Landscapes, ACReSAL, Project. It said this in a statement issued in Washington on Thursday. According to it, the project will…

In addition, the federal government has ordered all banks still holding on to government funds “to transfer all remaining balances in the accounts of Federal Government owned MDAs in their custody without express exemption to the TSA”. Minister of Finance Budget and…