Old Mutual launches radio programme to promote financial literacy
Cynthia Ezekwe
April 13, 2023
By Cynthia Ezekwe Old Mutual Nigeria, a subsidiary of Africa’s financial services group, Old Mutual Limited (OML), has launched a radio programme entitled ‘The Money Beats Show,’ to promote financial education and adoption of insurance products for Nigerians. The Money Beats show intends to upskill Nigerians to be financially smart and savvy risk managers by […]
GIABA engages BDC operators on fight against money laundering
Olivia NnoromApril 6, 2023
By Olivia Nnorom The Inter-Governmental Action Group against Money Laundering in West Africa (GIABA) has charged Foreign Exchange Bureaus/Bureau De Change (BDC) operators on effective implementation of anti money laundering (AML) preventive measures in the currency exchange sector in the fight against money laundering and terrorism financing in Nigeria. GIABA gave the recommendation at a […]
Access Holdings injects $300m into banking subsidiary to execute African expansion strategy
Business a.m.April 5, 2023
By Business A.M. Access Holdings has injected a $300 million capital investment into its subsidiary, Access Bank for the execution of its African expansion strategy. The tier-1 financial institution, in a notice signed by Sunday Ekwochi, the company secretary, said the proceeds of the investment will supplement the capital needed to offer financial services in […]
Moni launches community-powered business loans to address Africa’s $421bn credit deficit
Onome AmugeApril 3, 2023
By Onome Amuge Moni, a digital platform that leverages social trust and group responsibility to deliver financial services in Africa, has unveiled a new range of business loans that enables market traders, spare part dealers, textile traders and other small business owners in Africa to take advantage of the power of their communities to access […]
Afreximbank issues $10m trade finance facility to Parallex Bank for Nigerian SMEs
Cynthia EzekweMarch 30, 2023
By Cynthia Ezekwe African Export-Import Bank (Afreximbank) has provided a $10 million trade finance facility for Nigeria’s Parallex Bank Limited to support Small and Medium-sized Enterprises (SMEs). The financing is deployed under the Afreximbank’s Trade Facilitation Programme (AfTRAF), which is part of Afreximbank’s strategy to assist African banks in enhancing and complementing existing trade finance […]
NEXIM Bank set to boost regional trade following survey, navigational charts of River Niger
Habeeb AdamuMarch 22, 2023
By Habeeb Adamu The Nigeria Export-Import Bank (NEXIM), an export credit agency which focuses on the development and expansion of the non-oil sectors of the Nigerian economy, said its efforts to develop regional trade, and promote bulk movement of commodities through the Nigerian waterways has received a boost, following the successful survey and navigational […]
DMO auctions 4 FGN bonds worth N360bn in March
Cynthia EzekweMarch 16, 2023
By Cynthia Ezekwe The Debt Management Office (DMO) has offered four Federal Government of Nigeria (FGN) Bonds valued at N360 billion for subscription through auction in March 2023. According to the DMO, the first offer is a February 2028 FGN bond valued at N90 billion ,a 10-year re-opening, at an interest rate of 13.98 per […]
CBN releases N114bn under 100-for-100 policy
Cynthia EzekweMarch 7, 2023
By Cynthia Ezekwe The Central Bank of Nigeria (CBN) says it has disbursed N114.17 billion to beneficiaries under its 100 for 100 Policy on Production and Productivity (PPP) following the commencement of the intervention. Godwin Emefiele, the governor of the apex bank disclosed this recently in a communiqué after the last monetary policy committee meeting […]
Afreximbank unveils TRADAR Club to promote African trade, investments
Onome AmugeDecember 20, 2022
By Onome Amuge The African Export-Import Bank (Afreximbank) has introduced TRADAR Club, a member-driven network with the goal of empowering international businesses and executives to transform trade and investments in Africa. This was disclosed in a statement signed by Amadou Sall, Afreximbank’s media contact in Abuja. The statement said that TRADAR Club, […]
Stanbic IBTC issues N19.9bn to bridge Nigeria’s infrastructure funding gap
Cynthia EzekweDecember 12, 2022
By Cynthia Ezekwe Stanbic IBTC Asset Management, a subsidiary of Stanbic IBTC Holdings, has announced the issuance of a N19.997 billion series III offer under its Stanbic IBTC Infrastructure Fund N100 billion programme. A statement by the financial institution said the fund is targeted at bridging the funding gap in Nigeria’s infrastructure sector through investing […]