SEC unveils digital revolution securities trading
Nse Anthony-Uko
November 14, 2018
The technological trading revolution at the Nigeria Stock Exchange continued on the upward trajectory as the Securities and Exchange Commission (SEC) inaugurated a Fintech committee to come up with a FinTech roadmap for the Nigerian capital market. The Committee, which is to operate under the purview of the Capital Market Committee (CMC), has Ade Bajomo, […]
Rate hike on card as monetary committee meets
Moses ObajemuNovember 14, 2018
The) of the Central Bank of Nigeria (CBN) is to meet on Monday and Tuesday next week to consider key macro economic indices and other monetary policy issues ahead of the general elections next year. Informed industry sources say the Monetary Polic Rate (MPR) may be reviewed upward from the present 14 percent. The MPR […]
Access Bank’s discounted financing for women in business offers up to N100m at 15%
Businessam StaffNovember 13, 2018
Access Bank continues push to reach women in business is being backed up by a relentless effort at promoting and deepening its relationship with female entrepreneurs in the country. A strengthening of this relationship, the bank said in a statement made available to business a.m., has seen it open a window through the W […]
The politics of the new minimum wage
Oluwaseun AfolabiNovember 13, 2018
With the help of weekly OMO auctions and stagnant MPRs, the Central Bank of Nigeria has so far been successful in keeping liquidity in the economy in check . However, recent developments in the polity and the economy may make the task more difficult for the central bank. The CBN, through its monetary policy instruments, […]
Nigeria’s NDIC says regulators monitoring investigations of failed Skye Bank directors for abuses
Nse Anthony-UkoNovember 13, 2018
Deposit insurer, the Nigeria Deposit Insurance Corporation (NDIC), said it was closely monitoring along with the Central Bank of Nigeria, the investigations by law enforcement agencies of the directors and management of the failed Skye Bank Plc to determine their culpability in the failure of the bank. The CBN on September 22 revoked the operating […]
Ecowas single currency: Nigeria’s central bank says name, logo competition entries for $10,000 grand prize closes Nov. 20
Adesola AfolabiNovember 8, 2018
The Central Bank of Nigeria (CBN) Wednesday announced that entry for the competition on the ECOWAS single currency name and logo will close on 20 November 2018. The competition which generally aims to receive proposals on the name and visual design of the future ECOWAS currency will select three best proposals for the name of […]
CBN to revise NUBAN standards to accommodate OFIs
Chris IkosaNovember 7, 2018
The Central Bank of Nigeria Tuesday issued an exposure draft for the revised standards on Nigerian Uniform Bank Account Number (NUBAN) to accommodate other financial institutions (OFIs) aside Deposit Money Banks (DMBs) operating in the country. According to the CBN, in view of the success of the NUBAN scheme across DMBs and the increasing role […]
MTN partners Sterling Bank on smartphone financing scheme
Adesola AfolabiNovember 6, 2018
In a bid to provide more Nigerians with access to the benefits of a digital world, MTN Nigeria in partnership with Sterling Bank and PayJoy recently launched a Device Financing Scheme (DFS) to provide customers (who meet their requirements) with the opportunity to purchase smartphones of their choice and pay over a period of six […]
DMO announces Nigeria’s November savings bond offering
Adesola AfolabiNovember 5, 2018
The Debt Management Office on Monday opened subscriptions for the November 2018 savings bond of the Federal Government of Nigeria (FGN). The bond subscription period, according to the debt office, will run from Monday, November 5 to 12 noon of Friday, November 9, 2018, with the settlement date fixed for Wednesday, November 14, 2018. The debt office […]
CBN mandates Bureau de Change to apppint board of directors from December 1, 2018
Adesola AfolabiNovember 2, 2018
A new code of corporate governance released Thursday by the Central Bank of Nigeria to Bureau de Change (BDC) operators in the country, is requiring that BDCs have a board of directors with a minimum of three and maximum of five members. The board which have an array of responsibilities, rights and management requirements outlined […]