Alhaji Adamu Garbajo, coordinator, Millennium Development Goals (MDGs), Adamawa state, has said that 2,250 persons would benefit from its Conditional Cash Transfer programme in Adamawa.
Garbajo said that 450 persons were expected to benefit in each of the five local government areas of Yola South.
He said each council was expected to get N72 million for the programme, which would
Alhaji Umaru Ibrahim, managing director, Nigeria Deposit Insurance Corporation (NDIC) has said that the agency is seeking for the establishment of an explicit investor protection scheme to protect the interest of small investors in the capital market.
Ibrahim, said this when the Executive Council of Chartered Institute of Stockbrokers (CIS) paid him a courtesy visit.
The total value of that currency (whether banknotes, coins, or demand deposits) that is engaged in Nigeria’s economy is N1.457 trillion as at the month of January, according to data by the Central Bank of Nigeria (CBN).
The figure is down fell by 10.7 per cent compared with the 4.2 per cent rise in December last year.
“The development reflected, wholly, the 11.2 per cent decline
Economic and Financial Crimes Commission (EFCC) has released Ehi Okomoyon, former managing director of the Nigerian Security Printing and Minting Company (NSPMC), after being quizzed over alleged N750million Polymer notes contract.
Okoyomon also forced to retire over the alleged N2 billion missing notes from the Mint under his leadership was arrested on Sunday by operatives of the anti-
Zenith Bank Plc has been named “Most Customer-Focused Bank in Nigeria” by KPMG, international management consulting firm.
In a declaration in its 2013 Banking Industry Customer Satisfaction Survey (BICSS) KPMG, said Zenith Bank is best-in-class service delivery and ranked the top most in both the retail and corporate banking categories on the basis of a Customer Satisfaction Index (CSI
Nigerian card industry grew in leaps and bounds from 2008 to 2012, according to the latest report by Research and Markets, world's leading source for international market research reports and market data.
According to Research and Markets, the compounded annual growth rate (CAGR), a business and investing specific term for the smoothed annualized gain of an investment over a given time
Lamido Sanusi, governor, Central Bank of Nigeria (CBN), has returned a damnining indictment on Nigerian banks which he accused of ripping off customers to the tune of N6 billion last year alone.
“The Director of Consumer Protection has recovered over N6 billion in the last one year for customers that were cheated by banks,” Sanusi said.
The governor who spoke at annual Isaac
Guaranty Trust Bank Plc (GTBank) has launched a social banking platform, which allows customers to meet their banking needs on Facebook.
The new offering which is the first of its kind by any Nigerian bank allows members of the public to open GTBank accounts and get customer service support on Facebook.
Mr. Segun Agbaje, managing director/chief executive officer of GTBank, said
Diamond Bank Plc is to raise $750 million additional capital to enhance its working capital and finance its business development initiatives, according to a notice to its shareholders that was signed by Nkechi Nwosu, company secretary
However, the move is subject to approval from regulatory authorities and its shareholders at its Annual General Meeting which holds on April 30.
Heritage Bank, the newest player in the Nigerian banking sector, has opened its first two branches in Marina, Lagos and Dugbe in Ibadan, Oyo State Capital.
While the Marina branch went on stream mid-March, the Ibadan office opened for business in the first week of April.
Ifie Sekibo, chief executive officer, Heritage Bank, describing the development as momentous in the life of
CP Africa, a leading business blog, has said that a total of 103 billionaires from the Middle East and Africa, together own $279 billion, with Nigeria’s richest African, Aliko Dangote, leading the pack worth $16.1 billion.
The blog also said that Aliko Dangote, Nigeria’s own multi-billionaire and philanthropist, retains his position as Africa’s richest man for the 3rd year in a row,
National Central Switch (NCS) has begun interoperability services for mobile money transactions, having completed integration of 15 out of the 16 already licensed mobile money operator.
The commencement of interoperability service in mobile money transaction is coming barely one month after the expiration of Central Bank of Nigeria (CBN) directive to mobile money operators to connect to
Debt Management Office (DMO) has said that the Central Bank of Nigeria (CBN) may sell as much as N410 billion worth of bonds during the second quarter of this year.
It said that bond sales for the quarter would open on April 17. According to DMO, the bonds to be sold in April will include N25 billion to N45 billion bonds each of seven-year, 10-year and 20-year tenor. It said that the
SatADSL, a Belgium-based satellite service operator which offers specialized products and services aiming at boosting the operations of financial institutions in Africa independently from any terrestrial infrastructure has promised to provide technology that withstand weather condition; while also stating that “average monthly cash withdrawal per ATM in Africa is the highest in the World: 4,
Pagatech, the leading mobile payments service provider in Nigeria said it has recorded its 500, 000th user of its service by the end of March, just as the company marks its four years of providing mobile services in the nation’s financial services sector.
The innovative financial services platform was started in April 2009 but received its full operational licence from the Central bank
Nigerian Stock Exchange (NSE) will this morning April 2, unveil supplementary market makers expected to complement the activities of primary market makers introduced in September, 2012.
Today also, the circuit breaker for all quoted stocks on the NSE would move 10 per cent upward to ensure liquidity in the capital market.
Circuit breaker is the percentage at which a price of any
The Western Union Company, the global payment solution provider in partnership with Virtual Terminal Network (VTN), leading Nigerian payment operator have launched a new transfer service that allows subscribers in Nigeria use their mobile phones to direct Western Union funds into their electronic VTN VCASH account.
According to Africa news, VCASH subscribers can use the mobile money
New management of Union Bank Plc said it has no immediate plan to expand or acquire other banks, but ensuring that its service delivery is at the best level possible.
Emeka Emuwa, group managing director, said despite the bank's many challenges, it has a lot going for it, including a large branch network, large loyal customers and transparency, especially with regards to charges.
Investors and business leaders are still wary about the state of Nigerian economy and the unfriendly business environment, according to the latest Business Confidence Index (BCI) of the Lagos Chamber of Commerce and Industry (LCCI)
BCI is a leading economic indicator designed to measure the degree of optimism on the state of the economy that business leaders are expressing through their
Central Bank of Nigeria CBN, has reviewed all bank charges to provide a standard application in the banking industry according to a circular to all banks and discount houses, signed by Mr. I.T Nwaoha, acting director, Financial Policy and Regulation of the apex bank.
The CBN said in the circular -“The Revised Guide to Bank Charge” that the review would minimise conflicts between banks
Keystone Bank said that it has acquired a state-of-the art technology from IBM to usher in a new era of service delivery for its customers.
Phillip Ikeazor, chief executive officer, Keystone at a joint press conference by the bank and IBM in Lagos, said the bank deployed a range of IBM software and hardware systems and technology solutions to enable it upgrade its computing and service
Geoffrey Wood, Professor of International Business said that the new BRICS Development Bank can rival the International Monetary Fund (IMF) and the World Bank if it can reconcile its competing agendas.
Leaders of the so-called BRICS nations - Brazil, Russia, India, China and South Africa - met in Durban to put together the new bank, which will initially focus on infrastructure and
Nigeria's inflation is likely to exceed 10 percent at some point over the next few months, but will return to single digits by the fourth quarter, according to statement from the Central Bank of Nigeria (CBN) yesterday.
The CBN noted that inflation rate which stood at 12 percent last week for the ninth time in a row, was as a result over ongoing external price pressures.
The new world order comes to Durban this week – for the fifth BRICS Summit, and the first in Africa. Dilma Rousseff, Vladimir Putin, Manmohan Singh, Xi Jinping and Jacob Zuma represent a changing world, as gravity and power gradually shift from North to South, and West to East.
Between them, they preside over nearly half of the world’s population, and
A new policy paper by the African Development Bank (AfDB) carries the importance of trade integration to macroeconomic convergence.
Published this March, the report titled "Supporting Macroeconomic Convergence in African regional economic communities" recommends to link the roadmap in the implementation of macroeconomic convergence to progress made in trade integration.
First City Monument Bank (FCMB) Plc in collaboration with World Wildlife Fund (WWF) on Saturday March 23, joined millions of people, 4,000 cities, heritage sites, royal palaces, schools, cafes and corporations from all over the world in observing the Earth Hour.
This is in furtherance of its advocacy campaign on environmental sustainability.
This global event, which is
NOI Polls has revealed that majority of customers of banks in Nigeria complain of hidden charges on them for banking services.
Latest weekly poll results released by NOI Polls revealed that the majority of banking Nigerians (61 percent) agreed that Nigerian banks are exploiting their customers through hidden bank charges.
In addition, First Bank was judged to have the best
The National Economic Council has approved the sharing of between $1billion and $2billion from the excess crude account amongst the federal, state and local governments.
Godswill Akpabio, governor of Akwa Ibom State, who disclosed this to state House Correspondents at the end of the National Economic Council meeting at State House, Abuja, said the money was to facilitate various
Securities and Exchange Commission (SEC) yesterday suspended Ecobank Plc from all capital market activities because of irregularities surrounding a loan.
SEC said in a statement that Ecobank’s client Arian Capital Management, a stock broking firm, had used capital from another company without that company's permission as collateral for a loan from Ecobank Plc.
However, in swift
First City Monument Bank (FCMB) Plc in collaboration with World Wildlife Fund (WWF) will tomorrow, Saturday join millions of people, 4,000 cities, heritage sites, royal palaces, schools, cafes and corporations from all over the world in observing the Earth Hour.
This is in furtherance of FCMB’s advocacy campaign on environmental sustainability.
This global event, which is