FG, states, local governments share N802.407bn as FAAC allocation rises by 18%
Onome AmugeJuly 27, 2022
By Onome Amuge. The Federation Account Allocation Committee (FAAC) has disbursed a total sum of N802.407 billion as federation allocation for the month of June 2022 accorded to the federal and state governments, as well as the country’s 774 local government councils. The figure represents an increase of N121,624 billion or 18 percent rise in […]
AfDB woos American businesses to investment opportunities in Africa
Onome AmugeJuly 27, 2022
BY Onome Amuge. The African Development Bank Group (AfDB) has called on American businesses to invest in the opportunities created by the bank’s $1.5bn African Emergency Food Production Facility, established to curb the impact of the current global food crisis worsened by Russia’s invasion of Ukraine. The AfDB’s facility, recognised as the first of its […]
Effect of Inflation on Crypto Investments and Alternatives to Invest in
Businessam StaffJuly 26, 2022
In the developed world, inflation is at an all-time high — the US peaking at an annual rate of 8.5% in March 2022 — as the world deals with COVID-19 disruptions, a surge in consumer demand and the war in Ukraine (among other geopolitical conflicts). Even the crypto market, always thought to be inflation resistant, […]
Access Bank, U.S. DFC partnership yields $280m to boost SME financing
Businessam StaffJuly 25, 2022
BY BUSINESS A.M. REPORTER A new partnership between Nigeria’s Tier-1 lender, Access Bank and the United States International Development Finance Corporation (DFC) is primed to yield $280 million that will be channelled to boosting the financing needs of small and medium enterprises (SME). The deal to make this happen was signed between Scott Nathan, chief […]
Ecobank extends remittance services to Nigerian business account holders
Onome AmugeJuly 25, 2022
By Onome Amuge. Ecobank has announced the extension of its innovative remittance services to enable business account holders to receive and enjoy more robust remittance services from anywhere in the world via the Ecobank Rapid Transfer service. The development, according to the bank, is to enable Nigerian business account holders receive funds sent through Ecobank […]
Access Bank opens applications for its 4th Womenpreneur Pitch-a-Ton Africa
Chisom NwatuJuly 25, 2022
BY Chisom Nwatu. Access Bank has called on women entrepreneurs globally to apply for the 4th edition of its Womenpreneur Pitch-a-Ton Africa in continuation of its effort to empower female entrepreneurs with financial and business skills. Abiodun Olubitan, group head, W Initiative, Access Bank Group, disclosed this at a media roundtable for the unveiling of […]
Zenith retains Nigeria’s number one bank position for 13th consecutive year
Onome AmugeJuly 25, 2022
BY Onome Amuge. Zenith Bank Plc has been ranked the number one bank in Nigeria by Tier-1 capital in the 2022 Top 1,000 World Banks ranking published by The Banker Magazine, an international affairs publication owned by the Financial Times Ltd. The Nigeria-based multinational financial service provider amassed a Tier-1 Capital of $2.75 billion to […]
Managing Your Funds at Online Casinos
Businessam StaffJuly 24, 2022
Online gambling is one of the most popular pastimes among adults worldwide. But let’s be honest, anyone playing online casino games also wants to win some money while doing so. But to win, you must also invest. Joining a trustworthy online casino that meets the right criteria is critical. Below we will discuss the […]
9PSB, Seerbit partner to promote seamless financial services in Nigeria
Onome AmugeJuly 22, 2022
BY Onome Amuge. Nigeria’s pioneer payment service bank, 9 Payment Service Bank (9PSB), has initiated a partnership with SeerBit, a pan-African enterprise payment platform, to deploy a home-grown solution and roadmap for the digitisation of payments across Nigeria. The partnership is expected to co-create a seamless payment and omnichannel banking ecosystem that aggregates and simplifies […]
Nigeria’s central bank raises benchmark lending rate to 14% to tame inflation
Chisom NwatuJuly 19, 2022
BY Chisom Nwatu. The Central Bank of Nigeria has increased the Monetary Policy Rate (MPR) by 100 basis points to 14 percent, a move it believes would promote stability in the midst of rising inflation. Godwin Emefiele, the CBN governor, announced the decision on Tuesday, 19 July, 2022 at the end of a two-day meeting […]