Old Mutual launches radio programme to promote financial literacy
Cynthia EzekweApril 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 […]
DLM Capital redeems N20.161bn of N25bn SPV securitisation
Cynthia EzekweApril 12, 2023
By Cynthia Ezekwe DLM Capital Group, a development investment bank , has redeemed a total of N20.161 billion, which is a major part of the CERPAC Receivables Securitisation Funding SPV and paid investors involved in the N25 billion future flow receivables backed securitisation transaction. DLM Capital,in a statement, noted that the redemptions were for the […]
OAGF partners Entop to enlighten MDAS on IPSAS-Compliant financial statements
Cynthia EzekweApril 12, 2023
By Cynthia Ezekwe The Office of the Accountant General of the Federation (OAGF) in collaboration with Entop Consulting, a financial and management consultant firm, has organised a 2-day nationwide capacity building programme for public sector entities on preparation of Accrual IPSAS-compliant financial statements by ministries, departments, and agencies (MDAs) on geopolitical zone basis. The International […]
ADF okays $8 million to facilitate digital banking system in West Africa
Cynthia EzekweApril 10, 2023
By Cynthia Ezekwe The board of directors of the African Development Fund (ADF) has approved $8 million to facilitate the digital banking system in West Africa. A statement by African Development Bank (AfDB) disclosed that the fund was for establishing a digitally interoperable unique bank identification system in West Africa, and to establish […]
Analysts outline political, monetary, fiscal policy expectations ahead May 29
Our ReporterApril 10, 2023
BY OUR REPORTER Nigeria’s political economy, monetary and fiscal policy environment in the post-Buhari administration is the subject of intense scrutiny and permutations by economic, investment and finance analysts who are anxiously looking to bid goodbye to the last eight years and welcome a new era. And ahead of the May 29, 2023 inauguration of […]
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 […]
NSIA, Vitol seal $50m joint venture on carbon reduction
Business a.m.April 6, 2023
By Business A.M. The Nigeria Sovereign Investment Authority (NSIA), managers of Nigeria’s Sovereign Wealth Fund, and Vitol have finalised a joint venture agreement to invest in a range of carbon avoidance and removals projects as well as in the process of completing a final investment decision on the first projects. According to a statement, an […]
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 […]
How smart contracts via blockchain technology can close the $2trn global trade finance gap
Olivia NnoromApril 5, 2023
By Olivia Nnorom According to the World Trade Organisation, 80 per cent to 90 per cent of international trade relies on trade finance, comprising trade credit, cash advance, insurance, export finance and some other short-term financing. In a long while, trade finance has facilitated growth and advancement in global trade. However, it is almost impossible […]
AfDB okays $525,000 grant to support African Fintech Network
Onome AmugeApril 5, 2023
By Onome Amuge The African Development Bank (AfDB) has signed a $525,000 dollar agreement to support Africa Fintech Network’s (AFN) Hub project, aimed at promoting digital innovation and financial inclusion in African Countries and ultimately,boost the fintech industry in the continent. The grant is funded by the Africa Digital Financial Inclusion Facility (ADFI), inaugurated by […]