The Development Bank of Nigeria (DBN) is partnering with Jaiz and Taj Banks to provide non-interest medium/long-term loans for Micro, Small, and Medium-Sized Enterprises (MSMEs) in the North. Dr Tony Okpanachi, Managing Director, DBN, said this at a stakeholders’ conference…
By Sodiq Adelakun The Debt Management Office (DMO) plans to increase its capital market offering by listing its N130 billion Sovereign Sukuk on the Nigerian Exchange Ltd. (NGX) and the FMDQ Securities Exchange Ltd. This was contained in a statement…
No fewer than 7.8 million small businesses under the Association of Small Business Owners of Nigeria have died within the last two years. The President, ASBON, Femi Egbesola, disclosed this during an interview. He said, “Our statistics remain the same,…
FCMB Group Plc has reported a growth in profit before tax for the half year 2023 to N38.2bn. The figure represents a 148 per cent growth compared to N15.4bn in the corresponding period of 2022. The financial institution disclosed this…
President Bola Tinubu has called on the UK to deepen its partnership with Nigeria and Africa by investing more to see that African continent attain more sustainable and broad-based prosperity. This is contained in a statement by Mr Ajuri Ngelale,…
The exchange rate between the naira and dollar closed in the month of July at N756.94/$1 representing a 1.6% gain from the N769.25 it closed in the month of June. This is according to end-of-month data from the FMDQ which…
A new study from the National Bureau of Statistics and the Financial Access Initiative research center of New York University has revealed many small businesses earn N223,250 in monthly revenue. According to the study, Nigerian firms earn less than firms…
By Sodiq Adelakun States and local governments got N2.59tn from the federation account in the first six months of 2023 amid worsening economic hardship in their respective states. This is a 27.62 per cent increase from the N2.03tn that was…
The CEO of Ecobank Group, Jeremy Awori, has attributed the group’s profitability in the second quarter of 2023 to its strategic roadmap which demonstrated the benefits of its diversified business model, resilient balance sheet and commitment to serving its customers.…
By Sodiq Adelakun Amid the economic downturn, Nigeria’s external reserves lost $167.2million in July as the Naira fell further to the dollar. Figures obtained from the Central Bank of Nigeria on movement of external reserves showed that the reserves which…
