The International Monetary Fund has painted a grim economic outlook saying that inflation, debt, and food crisis is pushing the Nigerian economy and other African economies to the verge of collapse. The Managing Director of the IMF, Kristalina Georgieva disclosed…
The Debt Management Office has stated that Nigeria is not at risk of ‘debt distress’ due to its $15.9 billion Eurobonds. The DMO made the clarification in a statement on its website in reaction to an alarm raised by Robert…
The International Monetary Fund (IMF) and the World Bank Group (WBG) have announced that their 2022 Annual Meetings will take place from Oct. 10 to 16. This is contained in a statement obtained from the World Bank website in Abuja…
Fidelity Bank Plc has disbursed over N100 billion loans to Small and Medium Enterprises (SMEs) in the real sector in the first half of the year. The bank has also leveraged its lending framework to partner with several Development Finance…
By Ogaga Ariemu TAJBank Ltd, one of Nigeria’s leading non-interest banks, has boosted its financial inclusion drive with the opening of a new, technology-powered branch in Wuse 2, Abuja. Nigerian NewsDirect Newspaper learnt on Wednesday in statement by the Managing…
The Central Bank of Nigeria (CBN) has issued an exposure draft for the digital financial services awareness guidelines to address gaps in consumer knowledge and practices with Digital Financial Services (DFS). This was disclosed by the CBN in a circular…
The Central Bank of Nigeria (CBN) has made numerous attempts to defend the Naira, but the currency has massively declined by N29 in the second quarter of 2022. This is indicative of the second-worst quarter depreciation in Nigeria, while the…
Kuda Microfinance Bank has stated that it will start charging N50 to all deposits of N10,000 or more made into customers’ Kuda account. In a mail by the bank to its customers, it said that this is in line with…
Nigeria’s external reserves returned to a growth path after gaining $679.12million in June. Figures obtained from the Central Bank of Nigeria revealed that the reserves, which stood at $38.48billion as of June 2, 2022, rose to $39.16billion as of the…
By Seun Ibiyemi Banks’ credit to the private sector hit its highest level in May 2022, reaching N38.19 trillion from N35.19 trillion recorded as of December 2021, representing a N3 trillion increase within six months. This is according to data…
