Following the recent floating of the naira by the Central Bank of Nigeria, the external debt of the 36 states and the Federal Capital Territory may rise by as high as over 40 per cent. On Tuesday, June 13, a…
By Sodiq Adelakun In a bid to maintain equivalent of the foreign currencies, many Deposit Money Banks (DMBs) have been asked to increase funds in Naira accounts for FX allocation through Form A and Form Q. This is coming after…
By Sodiq Adelakun Following demand pressure against shrinking supply, the Naira on Monday crashed by 16 per cent to N770.38 per dollar in the Investors and Exporters (I&E) window following a surge in demand for dollars worsened by acute supply shortage. According…
Leading economic and development institutions estimate that micro, small, and medium enterprises (MSMEs) contribute substantially to national Gross Domestic Product (GDP) growth. The World Bank states that as key drivers of growth and development in emerging economies, for instance, MSMEs…
Union Bank of Nigeria Plc recorded an impressive first quarter of 2023, with after-tax profit increasing by 127.6 per cent to N12.6 billion. Data gleaned from the Nigerian Exchange Group said the improved performance was driven by a windfall of…
By Sodiq Adelakun Access Holdings Plc has announced the appointment of Iyabo Soji-Okusanya as Executive Director, Corporate and Investment Banking Division in its banking subsidiary, Access Bank Plc. Mrs Soji-Okusanya is a seasoned professional with over three decade experience in…
By Sodiq Adelakun For Small and Medium Scale Enterprises (SMEs), hope rises as The First City Monument Bank (FCMB) is offering the access to get N5 million to N100 million loans to finance the purchase equipment needed to grow and…
By Sodiq Adelakun The Central Bank (CBN) has said that the status quo remains on the 43 non-eligible items banned from the forex market introduced under Godwin Emefiele leadership as CBN Governor. The items are not permitted to be funded…
The Institute of Chartered Accountants of Nigeria (ICAN) has called on the World Bank to approve loans for the Federal and State Governments in Nigeria based on their ranking on the ICAN Accountability Index. The President, ICAN, Dr. Innocent Okwuosa,…
…IMF to support Nigeria as naira appreciates to N663/$ By Sodiq Adelakun The International Monetary Bank (IMF) has backed the Central Bank of Nigeria (CBN) in unifying its foreign exchange Market. Recall that CBN announced operational changes to the foreign…
