By Idris Bakare The Central Bank of Nigeria, in line with its mandate to promote stability, inclusion and growth in the financial and payment system, says it has introduced a national domestic card scheme that will become effective on January…
African Development Bank (AfDB) and First City Monument Bank, FCMB, have signed a $50 million Line of Credit agreement to increase access to finance for Small and Medium Enterprises, SMEs, and Women-Empowered Businesses (WEB) in the country. AfDB also said…
By Idris Bakare The Director General of the Securities and Exchange Commission (SEC), Lamido Yuguda, has said the West African capital markets integration programme is aimed at creating an enabling environment for cross-border transactions in the sub-region. Yuguda stated this…
Africa’s Global Bank, United Bank for Africa (UBA) Plc has said that its diversified business model in key international markets on the continent and around the world, continues to act as a hedge and to position the Group to better…
The Central Bank of Nigeria (CBN) has unveiled a programme of events to commemorate the first anniversary of the launch of Africa’s First Central Bank Digital Currency (CBDC) tagged the “eNaira,” which was formally launched by President Muhammadu Buhari at…
By Idris Bakare The Race-To-$200 billion, RT200, non-oil export earnings initiative of the Central Bank of Nigeria, CBN, has recorded $1.28 billion repatriation in the third quarter of this year (Q3’22). Meanwhile, the apex bank is also set to deploy…
By Idris Bakare Polaris Bank has announced new board members after its acquisition by Strategic Capital Investment Limited. As part of the change in ownership, the SCIL appointed a new independent Board of Directors to lead the bank’s growth strategy.…
The Central Bank of Nigeria (CBN), has unveiled activities to mark the first anniversary of its digital currency, the eNaira. The News Agency of Nigeria (NAN), reports that the eNaira, which is Africa’s first Central Bank Digital Currency (CBDC), was…
By Idris Bakare DLM Capital Group has announced the maturity and successful redemption of its N572 million Series 5 Commercial Paper (CP) issue. This brings the total redemption to over N4 billion under its N20 billion CP issuance programme. In…
By Idris Bakare The Nigerian government is to restructure its record N20 trillion debt to the central bank to bonds, a step seen as availing the revenue-starved government the luxury of longer time to pay back, after President Muhammadu Buhari…
