Category Archives: Banking

CBN auctions N34bn treasury bills

The Central Bank of Nigeria (CBN) held a treasury auction on Wednesday to try to lure foreign investors. According to Reuters, traders said the central bank asked them to increase their rates at a bills auction on Wednesday compared with

Ecobank engages new graduates

In keeping with its talent development strategy, a new set of Graduate Trainees have commenced entry level development programme at the Ecobank Nigeria Academy in Lagos, the bank has disclosed. It stated that the training which was launched in July

LAPO Microfinance targets N154 billion loan deals in 2019

LAPO Microfinance Bank Limited is targeting a disbursement of N154 billion loan as support to Micro, Small and Medium Enterprises (MSMEs) in the country this year. Meanwhile, the bank has raised its authorised capital by 75 per cent from N2

Zenith Bank to assist Cross River on agricultural revolution

The efforts by Cross River State Governor, Ben Ayade, to industrialise Cross River State through its agricultural value chain policy got a major boost with the announcement of a partnership between the state government and Zenith Bank. This followed a

‘Nigeria can fight poverty if forex potential is explored’

Nigeria can reduce its level of unemployment and fight poverty if the potential in the foreign exchange (fx) market is fully explored, FX expert has said. According to them, using institutional mechanism to drive a profitable foreign exchange in the

CBN injects additional dollars, yuan

The Retail Secondary Market Intervention Sales (SMIS) received a boost of $280.04 million from the Central Bank of Nigeria (CBN) on Friday. The banking sector regulator also injected the sum of CNY 28.3million in the spot and short tenored forwards

FCMB to revamp agro-commodity trade with N2 billion financing

FCMB to revamp agro-commodity trade with N2 billion financing

Nigeria’s agro-commodity trading may soon record an upswing with the new finance facility structured in the form of working capital from a minimum of N100 million to a maximum of N2billion for qualified customers by First City Monument Bank (FCMB).

CBN Auctions N115bn Treasury Bills

The Central Bank of Nigeria sold a total of N114.6 billion worth of treasury bills yesterday, in its first such auction since mid-July as it seeks to boost dollar liquidity in the currency market. The Bank offered to sell N100

‘Insufficient power supply is constrained business activities’

The Central Bank of Nigeria (CBN) Wednesday disclosed that some firms in the country have identified insufficient power supply, high interest rates and unfavourable economic climate as major factors that constrained businesses in July. Other factors, according to the bank,

Market index falls further on sustained sell-offs

Following sell-offs in highly capitalised stocks, the Nigerian stock market sustained sliding profile at the end of yesterday’s transactions, causing the All-Share Index (ASI) to slump further by 0.4 per cent. Losing 102.31 points to 27,718.26 points. Consequently, investors lost

Nigeria records $15bn investments in six months

Between January and June this year, the Nigerian economy recorded a total investment commitment of $15.15bn in various sectors of the economy, the Nigerian Investment Promotion Commission has said. Figures obtained from the NIPC showed that the $15.15bn proposed investments

Fidelity pledges more support for MSMEs

Fidelity pledges more support for MSMEs

Fidelity Bank Plc has reinstated its commitment to grow the next generation of entrepreneurs in the country by supporting micro, small and medium scale enterprises (MSMEs) through its funding connect initiatives. Speaking at a Fidelity Bank Plc Radio Clinic show