Fed set to post new rules of the road for foreign banks in U.S.

April 8, 2019

The Federal Reserve is set to vote on a new approach for overseeing foreign banks such as Deutsche Bank AG, Barclays Plc and Credit Suisse AG that’s expected to require some of them to hold bigger stockpiles of easy-to-sell assets to guard against losses. The new system being considered at a Fed board meeting in Washington on Monday closely matches the overhauled […]

RMAFC to probe 22 banks over stamp duty collections

April 8, 2019

The Revenue Mobilisation Allocation and Fiscal Commission says it is set to probe 22 commercial banks over stamp duty collections. In a statement issued by the commission’s spokesman, Mr Ibrahim Mohammed, in Abuja, RMAFC said that the probe would involve a forensic investigation of the funds that had so far been collected as stamp duty […]

Zenith Bank appoints Ebenezer Onyeagwu GMD/CEO

Chris IkosaApril 8, 2019

The Board of Directors of Zenith Bank Plc has appointed Mr. Ebenezer Onyeagwu as the Group Managing Director/Chief Executive of the financial institution. The appointment becomes effective from June 1, 2019. Onyeagwu, according to a letter to the regulatory authorities dated April 8, 2019, which was seen by THISDAY on Monday morning, replaces Mr. Peter […]

CBN leaves SMEs stranded as AGSMEIS in shambles

Nse Anthony-UkoApril 8, 2019

Goes mute after April 2018 fan fair launch Scheme accretes N90bn since launch Once again, the plague that often follows a promise to create access to finance for small and medium scale enterprise owners by government and its agencies, has shown its ugly face, as a Central Bank of Nigeria midwifed Bankers Committee programme, the […]

World Bank board elects US Treasury’s Malpass as next president

April 5, 2019

The World Bank told Reuters on Friday that its executive board unanimously approved David Malpass, the U.S. Treasury Department’s top diplomat, as the bank’s next president, continuing the 73-year tradition of an American leading the development lender. Malpass, the Treasury’s undersecretary for international affairs who advised U.S. President Donald Trump’s 2016 election campaign, was the […]

Nigeria’s total debt now N24.38tn-DMO 

April 4, 2019

Patience Oniha, director-general, Debt Management Office (DMO), says the total public debt of Nigeria as at Dec. 31, 2018 is N24.38 trillion. Oniha, who made the disclosure during a news conference on Thursday in Abuja, said that the figure comprised of debt owed by the federal government, states and Federal Capital Territory (FCT). She explained […]

Bears maintain hold on stocks as NSE ASI dips 0.39%

Adesola AfolabiApril 4, 2019

The bearish performance at the equities market continued into the fourth consecutive trading session, Thursday. The negative performance for the day were specifically spurred by losses in Dangote Cement which fell 0.5 percent, Eco Transnational Incorporated (ETI) which declined 3.3 percent and Access Bank which depreciated by 4.3 percent. As a result, the benchmark index […]

Buhari to Attend WEF in Jordan, Investment Summit in Dubai

April 4, 2019

President Muhammadu Buhari will depart Abuja on Thursday for Amman to honour an invitation by King Abdullah II bin Al-Hussein of Jordan to participate in the World Economic Forum (WEF). Femi Adesina, the president’s special adviser on media and publicity, who made this known in a statement in Abuja on Thursday, said the WEF on […]