CBN to raise N1.13tn treasury bills in Q2 2023
Cynthia EzekweMarch 3, 2023
By Cynthia Ezekwe The Central Bank of Nigeria has disclosed its plan to raise N1.13 trillion in treasury bills for the second quarter of 2023, a significant increase from N926 billion raised in Q2 2022. The apex bank disclosed the information of the latest Nigerian Treasury Bill Issue Programme for the Second Quarter 2023 […]
Commercial banks’ loan to government hits N26trn,says CBN
Cynthia EzekweFebruary 21, 2023
By Cynthia Ezekwe The Central Bank of Nigeria (CBN) has disclosed that loans from commercial banks to governments at all levels stood at N26 trillion as at January, 2023. The apex bank made the disclosure in its latest money and credit statistics data published recently on its website. According to the report, the net domestic […]
How investing can boost incomes and lifestyles
business AMFebruary 17, 2023
By Business AM The economic downturn experienced in Nigeria and other parts of the world has forced many Many people to live monotonously, repeating the same daily routine in a bid to sustain their livelihoods. This has led to employees working tirelessly just to please their managers in return for monthly payments that are oftentime, […]
FMDQ approves 03 Capital N5bn commercial paper programme
Cynthia EzekweFebruary 16, 2023
By Cynthia Ezekwe O3 Capital Limited, a digital bank, offering credit and prepaid cards has announced the successful approval of its N5 billion Commercial Paper (CP) programme by the Financial Markets Dealers Quotations Exchange (FMDQ). A statement from the company disclosed that the approval was granted on 7 February, 2023,while Union Capital Markets Limited (UCML),a […]
Nigeria’s Curacel secures $3m seed funding to deepen insurance experiences in Africa
Onome AmugeFebruary 14, 2023
By Onome Amuge Curacel, Africa’s leading insurance infrastructure provider, has raised $3 million in seed funding to roll out new technology solutions designed to power the next generation of insurance experiences in Africa. The Nigeria-based platform said the new funding will support its expansion into North Africa, starting with Egypt and Morocco, enabling the company […]
Cleantech Qotto raises $8m funding on growth plan
Rosemary IwualaFebruary 13, 2023
By Rosemary Iwuala Qotto, a solar kits provider with operations in Burkina Faso and Benin, has raised $8 million in a Series A equity-debt round led by the IBL group, a billion-dollar conglomerate headquartered in Mauritius with business interests in a number of sectors including energy, financial services, logistics, distribution, and engineering. The Off-Grid Energy […]
CBN has capacity to produce redesigned new naira notes
business AMFebruary 13, 2023
By Business AM The Central Bank of Nigeria (CBN) says it has the capacity to produce the redesigned and new naira notes through its subsidiary, the Nigerian Security Printing and Minting Company (NSPMC) and roundly dismissed the claims making the rounds that the NSPMC lacks the ability to print the redesigned notes in large quantities. […]
Credit cards to account for $9.7trn of global spend by 2027 with 321m issuances
BEN EGUZOZIEFebruary 13, 2023
BY BEN EGUZOZIE Digital issuance platforms expand into new markets Africa penetration low 2.6% Nigerians own credit cards Nigeria penetration at 0.6% To increase to 1.8% by 2028 Credit cards will account for $9.7 trillion in total spending globally by 2027, providing a huge opportunity for card issuers to drive revenue growth by choosing […]
What is Responsible Gambling and Why You Should Care About
Businessam StaffFebruary 12, 2023
If you love sports betting, gambling, or online casinos, it is always better to play responsible gambling. Know the risks, set limits, and keep control to play responsibly. Enjoy the game without risking more than you can afford to lose; then, you’ll get a good experience. Responsible gambling allows you to engage in gambling activities […]
Bamboo secures digital broker license from Nigeria’s Securities & Exchange Commission
business AMFebruary 9, 2023
By Business AM The Nigerian Securities & Exchange Commission (SEC) has granted Bamboo Systems Technology Limited , a digital sub-broker license, allowing the company to operate in the Nigerian capital market as well as include Nigerian securities on its platform. A statement by the leading online brokerage firm in Africa, explained that the SEC licence, […]