Nigerian, African banks face climate, environmental risk threats – Moody’s
Charles Abuede
April 12, 2021
By Charles Abuede Exposed to high risks on rising loan portfolios Vulnerable on outsized government bonds holdings 49 banks in Africa extend $218bn to risk-prone sectors Advises climate, environmental risks in governance frameworks Although the non-performing loans (NPLs) ratio of Nigerian banks stands at 6.3 per cent, above the prudential benchmark of five per cent, Moody’s Investors Service has asserted that banks in Nigeria, […]
CBN suspends Paystack, others from offering BVN validation services
Wale AmeenApril 9, 2021
Wale Ameen Online Editor In what appears to be a sweeping policy clampdown and shift, the Central Bank of Nigeria has moved to suspend some major Fintechs and third-party partners offering BVN validation services. The apex bank has reportedly suspended Fintechs like Paystack and others from offering BVN validation service. This was revealed by […]
Coronation Merchant Bank set to issue Series XV & XVI commercial papers under its N100bn CP Programme
Charles AbuedeApril 9, 2021
Charles Abuede Nigeria’s leading merchant bank, Coronation Merchant Bank (CMB) limited has announced the launch of its Series XV and XVI Commercial Paper (CP) Issuance under its N100 billion commercial paper issuance programme which will be between 180 and 268 days tenor with 7.25 per cent interest yield under the Series XV 180 days […]
New SEC statement confirms equities trading on Trove, Chaka, Bamboo, as illegal
Charles AbuedeApril 9, 2021
Investment platforms seek more regulatory clarity from SEC Charles Abuede Online securities and investment trading platforms such as Trove, Bamboo, Chaka and Risevest, domiciled in Nigeria to offer the Nigerian public the unfettered access to securities of foreign and local companies listed on the Nigerian Stock Exchange and some on the international bourses […]
Nigeria moving behind with planned oil search resumption in Sokoto Basin as world moves to energy transition
Charles AbuedeApril 9, 2021
…Country spent $340m in previous North-East search; additional N27bn in seismic expedition Ben Eguzozie, in Port Harcourt If the Nigerian National Petroleum Corporation (NNPC) makes good its plan to “resume active exploration activities in the Sokoto Basin,” then Nigeria, Africa’s top oil producer, is set to make deliberate move behind the rung […]
Bulls ruled on Thursday from buying interests in banking heavyweights as investors saw almost N4bn profit
Charles AbuedeApril 8, 2021
Charles Abuede The domestic stock market extended the bullish sentiment on Thursday as the All-Share Index rose 0.07 per cent to settle at 38,799.83 points due to buying interest in Zenith Bank (+3.8%), GTBank (+2.7%) and Access Bank (+1.9%). Consequently, market year to date loss at -3.7 per cent was sustained and market capitalisation appreciated by N3.9 billion to settle at N20.3 trillion. On the flip side, the level […]
Africa’s export of primary commodities keeps it as enrichment source for economies that add value – SA trade minister
Online EditorApril 8, 2021
…Continent’s 2014 coffee export worth $6bn rather yielded $100bn abroad in final products after processing …Wants adoption of AAF SAP to transform continent than externally-imposed SAP …Warns of dire consequences if continent is left behind in 4th Industrial Revolution’s tech Ben Eguzozie, in Port Harcourt Rob Davies, former South African trade minister, […]
DLM Capital set to join Nigeria’s Fintech space as it obtains MFB license
Charles AbuedeApril 8, 2021
Investment banking group acquires Links Microfinance Bank Set to launch its Sofri digital lending brand in Q2 Charles Abuede DLM Capital Group, a developmental investment bank (DIB) that provides innovative solutions to economic and social developmental challenges, has announced the receipt of a license for the acquisition of Links Microfinance Bank in […]
CBN receives court order to freeze 11 bank accounts in FCMB
Charles AbuedeApril 8, 2021
Charles Abuede In line with efforts to conduct investigation into some some suspicious financial activities, the Central Bank of Nigeria (CBN) has announced the receipt of a court order from the Abuja Federal High Court, to freeze eleven bank accounts. The apex bank made this known in a disclosure on its website on Wednesday. According […]
Skill deficiency responsible for Nigeria’s worrisome unemployment indices, LCCI avers
Onome AmugeApril 8, 2021
Onome Amuge The Lagos Chamber of Commerce and Industry (LCCI) has attributed skill mismatch among Nigerian youths coupled with the discordance between school curriculum and industry needs for the persistent worsening situation of unemployment in the country. Toki Mabogunje, the LCCI president, made the disclosure during a recent news conference organised in collaboration with, The […]