Urhobo indigenes initiate committee to establish N1.5bn microfinance bank
Onome Amuge
February 15, 2021
By Onome Amuge A group of progressive-minded Urhobo indigenes have set up a fundraising committee aimed at the mobilizing funds for the establishment of a microfinance bank with N1.5 billion capitalto cater for the needs of the ewheya (women) and ighele(youngsters) of Urhoboland in the Delta State region. The committee, launched recently, was inaugurated […]
Hungry market guzzles up Ecobank Nigeria’s $300m Eurobond offering
Charles AbuedeFebruary 12, 2021
By Charles Abuede First African bank to test Eurobond market in 2021 The 144A senior unsecured bond offering carries a 5-year tenor at 7.125% Transaction becomes lowest for a Nigerian bank outstanding Eurobond coupon Ecobank Nigeria Plc, one of the leading banks in the treasury business in Nigeria and ranked amongst the […]
CBN directs banks on identification of refugees, asylum seekers for transactions
Charles AbuedeFebruary 11, 2021
By Charles Abuede The Central Bank of Nigeria (CBN) has asked all banks and other financial institutions to allow for the permissible means of identification for refugees and asylum seekers in Nigeria with respect to the conduct of financial transactions. It stated that the machine readable convention travel document (MRCTD) issued by the Nigeria […]
Peterside, turnaround expert, delivers ‘Honour’s Day’ lecture at Otuoke varsity
Chris IkosaFebruary 11, 2021
Dakuku Peterside, turnaround expert and immediate past director general at the Nigeria Maritime Administration and Safety Agency (NIMASA), will on Friday February 12, deliver a thought-provoking lecture on “Challenging the Way We Deliver Higher Education in a Challenging World” at the Federal University, Otuoke, Bayelsa State. The lecture is the first ‘Honour’s Day Lecture’ organised […]
ETI, Ecobank’s parent company, appoints former World Bank, AfDB official to board
Charles AbuedeFebruary 11, 2021
B y Charles Abuede Ecobank Transnational Incorporated (ETI), the parent company of pan African Ecobank Group, says it has appointed HervéAssah, a former African Development Bank’s (AfDB) country manager and resident representative for Nigeria and ECOWAS, to its board as an independent non-executive director from the central African Economic and Monetary Community (CEMAC) region. […]
FMDQ attracts N801.6bn in CPs, N299.45bn in bonds in FY20
Charles AbuedeFebruary 10, 2021
By Charles Abuede Market had a total of 67 issuers Top 5 market sponsors: Stanbic IBTC Capital = N672.09bn Chapel-Hill Denham Advisory = N261.56bn FBNQuest Merchant Bank = N198.14bn FCMB Capital Markets = N149bn UCML Capital Markets = N70bn Nigeria’s financial market powerhouse, FMDQ Securities Exchange, attracted quotations worth N801.6 billion in commercial papers […]
Global Food Price Index in January hits seven-year high
Onome AmugeFebruary 10, 2021
By Onome Amuge Global food commodity prices in January 2021, led by cereals, vegetable oils and sugar, recorded their highest level since July 2014, the Food and Agriculture Organisation (FAO) of the United Nations reported has reported. The FAO’s Food Price Index, which monitors and records monthly changes in the global prices of commonly-traded […]
NESG canvasses investment-led growth in Nigeria 2021 outlook
Ben EguzozieFebruary 10, 2021
Says size and direction of investment are crucial Country must boost aggregate demand, improve aggregate output Predicts 2.9% GDP growth in 2021 to 2.9 by 2025 Unemployment, poverty rates are sticky downwards The Nigeria Economic Summit Group (NESG), foremost private sector-led think tank, released its macroeconomic outlook 2021 for Nigeria, in which it is strongly […]
Nigerian business owners laud 50% decrease in minimum tax return of turnover – PwC survey
Charles AbuedeFebruary 10, 2021
By Charles Abuede 92% of the public support the 2020 Finance Act A recent survey conducted by PricewaterhouseCoopers (PwC), a leading professional services firm in Nigeria, has shown that there is an overwhelming 92 per cent public support for Nigeria’s Finance Act 2020, just as majority of respondents was most excited about the reduction […]
Nigeria has quickly become Africa’s biggest crypto market
Harshal GollenFebruary 10, 2021
By Harshal Gollen The cryptocurrency revolution has spread rapidly all over the world, and Africa is no exception. However, it is curious to see that one African country is as large as the rest of the continent combined, when it comes to cryptocurrency transactions and business. Nigeria is leading the continent for cryptocurrency transactions, especially […]