Category Archives: Business & Finance News Updates

External reserves hit $46bn, says CBN

The nation’s external reserves hit $46bn on Friday, the Central Bank of Nigeria disclosed in a statement on Friday. The CBN said the latest figures

IMF: Rewane, others advise CBN on banking sector risk containment

The Managing Director, Financial Derivatives Company Limited, Mr. Bismarck Rewane, and other local economic experts have joined the International Monetary Fund to advise the Central

FPI domination of Nigeria’s foreign capital inflows risky – FSDH

 Stanley Opara FSDH Group has raised the alarm over the current dominance of the country’s foreign capital inflow mix by of Foreign Portfolio Investments, otherwise

CBN sustains intervention in forex market

To guarantee liquidity in the market, the Central Bank of Nigeria (CBN), injected  $355.43 million into the Retail Secondary Market Intervention Sales (SMIS) at the

Vitafoam eyes higher earnings, to leverage subsidiaries

Stanley Opara Foams and allied products manufacturer, Vitafoam Nigeria Plc, is looking at growing future earnings by leveraging its various subsidiaries.  The firm also pledged

Stakeholders to discuss banking sector reform

Oyetunji Abioye Vice President Yemi Osinbajo, federal lawmakers, ministers, governors, key players in the finance and related sectors will converge on Monday to deliberate on

GTBank, Unilever, Stanbic IBTC drive stocks’ rebound

Stanley Opara The Nigerian equities market returned to a N50bn gain on Thursday, spurred by upticks in Guaranty Trust Bank Plc, Unilever Nigeria Plc and

IFC: Nigeria contributes to $42.6tr emerging market bank assets

Global Progress Report on Sustainable Banking Network says Nigeria remains a major contributor to the $42.6 trillion bank assets by 34 emerging markets. The report

Unity Bank, Wapic, Unic top losers, stocks shed N236bn

Stanley Opara The Nigerian equities market declined by N236bn on Wednesday after 23 stocks closed in red, with Unity Bank Plc, Wapic Insurance Plc and

Ghana becomes sovereign shareholder in AFC

Ghana has marked its seventh anniversary as a member state of the Africa Finance Corporation by becoming a sovereign shareholder in the corporation, making an

External reserves hit $43.2bn, says CBN

Oyetunji Abioye The nation’s external reserves hit $43.2bn on March 6, 2018, data obtained from the Central Bank of Nigeria showed on Wednesday. The foreign

BoI grants N1.5bn direct funding to 28 businesses

Ifeanyi Onuba, Abuja The Bank of Industry on Wednesday presented N362m cheque to the first batch of the beneficiaries of the N2bn-Micro, Small and Medium-scale

FCMB to reward customers in millionaire promo

First City Monument Bank is set to reward and enhance the experience of its customers through its reward scheme tagged ‘’FCMB Millionaire Promo Season 5.’’

Money supply to rise ahead of elections, say Rewane

The Managing Director, Financial Derivatives Company Limited, Bismarck Rewane, has said that money supply will rise by 2.2 per cent this year even as inflation