Sterling Financial Holdings Company Plc has notified the Nigerian Exchange Limited, shareholders, and the investing public of the appointment of new directors to its Board. The approval of the Central Bank of Nigeria has been obtained for the appointment of…
A fintech company operating in Nigeria and the United Kingdom, Kuda Bank, has launched a multichannel campaign to increase the awareness of cashless payment options in Nigeria. According to the fintech’s Co-founder, Musty Mustapha, the thematic campaign named ‘Cash Is…
By Sodiq Adelakun Amid liquidity crunch in the banking sector, banks in Nigeria are increasingly relying on the Central Bank of Nigeria, CBN, for liquidity as their borrowings from the apex bank intensifies. Data from CBN shows that within the…
The Bank of America has said the Monetary Policy Committee of the Central Bank may need to increase interest rates by at least 700 basis points before the end of the year to curb inflation. In an interview with Bloomberg…
The board of directors of the African Development Bank Group has approved $115m loan to support a major road rehabilitation project in Abia State. The project would ensure the rehabilitation of roads, erosion control, infrastructure and preparation of solid waste…
By Sodiq Adelakun The exchange rate between the dollar and naira closed at N741.5/$1 at the official investor and exporter window on Monday, July 3rd, 2023. The forex market opened at N760.39/$1 and sold for an intra-day high of N792/$1…
By Sodiq Adelakun Nigeria’s external reserves have declined by about $2.8 billion in the first half of 2023, reaching around $34.1 billion in June, due to weak crude oil output and a lack of foreign investor participation in the capital…
The intervention of Central Bank of Nigeria (CBN) in the nation’s healthcare system is developing the capacity of the sector to meet potential increase in demand for healthcare products and services. The scheme is meeting the expectation of increasing private…
By Sodiq Adelakun Sterling Bank Plc has launched a new product, ‘One-Woman Saver’ account, focused on market women and traders and aimed to give easy access to banking services at a six percent rate of return on savings. The bank’s…
The Debt Management Office (DMO) has listed two Federal Government of Nigeria (FGN) Savings Bonds for subscription for July, at N1,000 per unit. According to a statement by the DMO on Monday, the first offer is a two-year FGN Savings…
