One of the national microfinance banks, Accion Microfinance Bank, has appointed Mrs Adenike Laoye as its new board Chair. Established in 2006, Accion MfB Limited began operations in May 2007 after obtaining the Central Bank of Nigeria’s licence, and had…
The naira has appreciated by 0.68 per cent against the United States dollar on the Investor & Exporter forex window. The local currency closed at N763/$ on Tuesday, compared to N768.17/$ at the close of trading on Monday. There was…
Sodiq Adelakun Nigeria’s digital and financial infrastructure is inadequate to support a swift transition to a cashless economy, the World Bank has pointed out. The bank stated that this was one of the reasons the Central Bank of Nigeria’s naira…
The exchange rate between the naira and dollar on the official Investor & Exporter Window closed at N763/$1 ahead of the Sallah Break. According to data from the FMDQ Securities Exchange, the naira opened at N760.5 per dollar at the…
In the recently released ‘Central Bank of Nigeria (Customer Due Diligence) Regulations, 2023’ document, the apex bank asked financial institutions to use the social media handle, amongst other things, of their customers to verify their identity. There are only 31.6…
By Sodiq Adelakun Currency in circulation in the country rose by 157.27 per cent at the end of March to N2.53 trillion as of the end of May, latest figures from the Central Bank of Nigeria (CBN) have revealed. According…
The Debt Management Office has indicated plans to issue Federal Government of Nigeria (FGN) bonds valued at N1.2 trillion in its third quarter “Bond Issuance Calendar” for 2023. According to the calendar, on July 17, the DMO will re-open a…
By Sodiq Adelakun The World Bank Group has approved a loan of $500million to help improve the livelihood of women in Nigeria. Recall it would be the second loan approved by the World Bank under President Bola Tinubu. The World…
By Sodiq Adelakun The Vice President, Kashim Shettima, has announced the Federal Government’s commitment to facilitating swift access to single-digit loans for Nigerian small businesses. The Vice President disclosed this in a statement issued by the Director of Information, Office…
The Nigeria Deposit Insurance Corporation has said the deposits of directors and staff of defunct banks are excluded from its Deposit Insurance Scheme. This was disclosed during the Financial Literacy Day Programme organized by the NDIC on Monday in Abuja.…
