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Accion MFB opens new branch in Aba, promises better deals

The Managing Director,Accion Microfinance Bank, Mr. Taiwo Joda,has promised that the bank would provide cheaper funds in Aba to help residents grow their businesses. Joda made the promise at Ariaria Market in Aba during the opening of the bank’s first...

Inflation rate: Financial experts task CBN to stabilise Forex market

Some financial experts on Thursday called on the Central Bank of Nigeria (CBN) to continue to stabilise the foreign exchange market to achieve a single digit inflation figure. They made the call in Lagos while reacting to the October inflation...

Promo: 13 Fidelity Bank customers win N15 million cash prizes

Thirteen customers of Fidelity Bank Plc on Thursday won N15 million in its “Get Alert in Million’’ Promo Reloaded. TBI Africa reports that 11 lucky bank customers won N1 million each while two customers went home with N2 million grand...

3 micro-finance bankers in court over alleged N1.8m theft

Three micro-finance bankers, who allegedly stole N1.8 million from their employer, on Thursday, appeared before an Ikeja Chief Magistrates’ Court. The accused are Aishat Aremu, 33, who lives in Ogun; Abiola Adegboro, 40, a resident Ikotun, Lagos; and 27-year-old Adeolu...

Money laundering: Dogara urges support for enforcement agencies

Speaker, House of Representatives, Yakubu Dogara, on Thursday urged West African governments to provide adequate resources that would enable law enforcement agencies combat money laundering and terrorist financing in the sub-region. Dogara made the call at the opening of the...

Bank says PPP, other finance mechanism will bridge infrastructure gap

Managing Director of the Infrastructure Bank, Mr. Adekunle Oyinloye, said Public Private Partnership (PPP) and other alternative financing mechanism would bridge the infrastructure deficit in the country. Oyinloye said this while speaking on ways of attracting private capital for infrastructure...

Reps to investigate Customs duties paid to CBN

The -House of Representatives on Thursday resolved to investigate  customs duties remitted by commercial banks to the Central Bank of Nigeria (CBN) since January. The decision followed the adoption of a motion entitled, “Need to Investigate the Customs Duties Remitted...

NIRSAL, Union Bank earmark N10b for agric financing

The Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL) and Union Bank, in a recent partnership, have earmarked N10 billion for agriculture financing in the 2018 farming season. The Managing Director of NIRSAL, Mr Aliyu Abdulhameed, who spoke at...

Fidelity Bank restates commitment to growth of SMEs, non-oil sector

Fidelity Bank Plc says it will continue to aid the diversification agenda and economic growth of the Federal Government through its various supports to Small and Medium Enterprises (SMEs). The Bank’s Managing Director, Mr. Nnamdi Okonkwo, made the assertion on...

HSBC pledges $100b to combat climate change by 2025

HSBC has pledged to provide 100 billion dollars in financing and investment by 2025 to help combat climate change, the bank said on Monday. HSBC said it will facilitate financial flows to help boost support for clean energy and lower...

Central bankers on the move but where’s inflation?

Now the Bank of England has raised interest rates for the first time in a decade, it is beyond doubt major central banks in industrialised economies are eager to shift away from ultra-easy policy. But the fact the decision was...

World Bank to spend $52m on building 300 rural roads in Plateau – Official

The World Bank said it has earmarked 52 million U.S. dollars for the construction of over 300 rural roads in Plateau, under its Rural Access and Agricultural Marketing Project (RAAMP). The Head of RAAMP, Mr.Tesfa Michael, said this on Monday...

Nigeria’s inflation to become single digit in mid-2018, says CBN

Nigeria’s Central Bank Governor, Godwin Emefiele, said on Friday he expected inflation rate to fall at a faster pace and hit high single digit rates mid-next year. “We are very optimistic that food prices will come down and as they...

Economy: Expert wants banks to invest in real sector

A financial expert, Mr. Seyi Daramola, on Friday urged banks to help improve the economy by lending to the real sector rather than investing depositors’ funds in treasury bills. Daramola disclosed in Lagos that by the real sector, he was...

Sterling Bank posts 19% growth in Q3 gross earnings

Sterling Bank Plc has recorded sustained growth in earnings with 19 per cent increase in gross earnings for the third quarter ended September 30, 2017. The bank in a result declared on the Nigerian Stock Exchange (NSE) on Thursday said...

Q3: FBN Holdings’ profit increase by 141.29%

FBN Holdings has recorded an impressive result for the third quarter ended Sept. 30, 2017 as its profit increased to N16.07 billion representing 141.29 per cent. TBI Africa reports that this was an improvement over a profit of N6.66 billion...

German Chambers partner Access Bank to support Nigerian firms

Economic relations between Nigeria and Germany received a boost in Lagos on Wednesday with the inauguration of the first German financial support and solutions desk for companies in the country. TBI Africa reports that the desk was initiated by the...

ASSIBIFI seeks insurance for articulated vehicles

Workers in banks and insurance companies on Wednesday urged law enforcers to demand insurance documents for articulated vehicles as a strategy to develop insurance industry and ensure healthy truck on the roads. The workers made the call under the aegis...

Minna microfinance bank posts N10m profit after tax

The Minna Microfinance Bank operated by the Federal University of Technology (FUT), Minna has posted N10. 9 million profit after tax in the 2016 financial year. The Acting Chairperson, Board of Directors of the Bank, Mrs Hajara Abdullahi, stated this...

Islamic Development Bank, D-8 sign MoU on Cooperation

The Islamic Development Bank and the D-8 organisation have signed a Memorandum of Understanding (MoU) to enhance development efforts and joint expertise, knowledge and resources for the socio-economic development of the countries. The MoU was signed on Friday in Istanbul...

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Buhari’s achievements laudable in spite inheriting empty purse

The Minister of Information and Culture, Alhaji Lai Mohammed said President Muhammadu Buhari’s administration recorded laudable achievements, in spite of terrible economic downturn and...