By Sodiq Adelakun The FX reserves, which give the central bank the firepower to defend the naira, have come under the spotlight, with some experts saying the exact value of foreign currency-denominated assets on reserve is far less than the…
In an announcement on August 10, 2023, in Lagos, Guinea Insurance Plc notified the investing public that it had achieved a remarkable feat. The Company had gained the unanimous approval of the industry regulators, including the National Insurance Commission (NAICOM),…
Nigerian households and small businesses looking to acquire solar panels, batteries, inverters, and other green energy equipment now have access to as much as N10 million to buy these assets through the First City Monument Bank (FCMB) Energy Finance Loan.…
In view of the rise in illegal sales of forex, the Central Bank of Nigeria (CBN) has threatened to punish erring commercial banks involved in the illegality. The Acting Governor of the Apex Bank, Folashodun Shonubi disclosed this during a…
A financial economist, Prof. Uche Uwaleke, has commended the Central Bank of Nigeria (CBN) for publishing the financial reports of the bank after seven years. Uwaleke, who is a professor of Capital Market at the Nasarawa State University Keffi, gave…
Wema Bank has partnered the Council for the Regulation of Engineering in Nigeria (COREN) to promote technology and sustainable industrial growth. Speaking at the 31st Engineering Assembly in Abuja sponsored by Wema Bank, the financial institution’s managing director, Moruf Oseni,…
The Development Bank of Nigeria (DBN) has raised some N23 billion from its debut local bond issuance, allowing the country’s foremost wholesale Development Finance Institution more money to continue to fund the Micro, Small, and Medium-Scale Enterprises (MSMEs). The issuance…
First Bank Holding Plc will seek shareholders’ approval to raise N150 billion additional capital at the group’s Annual General Meeting (AGM) scheduled for August 15, 2023. This was contained in the group’s amended notice of the meeting. The group said…
By Sodiq Adelakun The Debt Management Office, on behalf of the Federal Government of Nigeria (FGN), has offered for subscription four FGN bonds for August 2023 via auction. According to the offer circular released recently by DMO, the first is…
The Central Bank of Nigeria has said the country’s inflation rate is better compared to most African nations. The Acting Governor of the CBN, Folashodun Shonubi, stated this on Tuesday at the 2023 Zenith Bank International Trade Seminar. Shonubi, who…
