Access Bank hits N1bn in digital lending daily

October 15, 2019

Access Bank Plc. has hit one billion naira daily in loan value through its expanded digital lending portfolio. Victor Etuokwu, the bank’s executive director, retail banking, stated this in Lagos on Tuesday. Etuokwu said its expanded digital lending portfolio, which gives Nigerians quick and 24/7 access to funds for emergencies without any collateral, had recorded […]

Dollar rises after U.S. jobs come out better than worst expectations

October 4, 2019

The dollar rose on Friday after three straight days of losses, as investors took comfort in a U.S. non-farm payrolls number which, while below the consensus forecast, was not as bad as the market initially feared. The greenback hit session highs against the yen and euro, following the jobs report after trading lower for most […]

Union Bank secures US$200m in OPIC Funding for SMEs, Women’s initiatives

October 3, 2019

By Omobayo Azeez Union Bank of Nigeria Plc has secured US$200 million in funding in agreement with Overseas Private Investment Corporation (OPI”), the U.S. government’s development finance institution to empower Small and Medium Enterprises (SMEs) and women business initiatives in Nigeria. The bank disclosed this through corporate disclosure at the Nigerian Stock Exchange (NSE), adding […]

CBN explains why dirty, mutilated naira notes are in circulation

July 8, 2019

The Central Bank of Nigeria on Monday attributed the proliferation of dirty and mutilated Naira notes in circulation to poor and improper handling. The bank made this known at a two-day sensitisation of Nigerians to their rights with commercial banks, noting that many Nigerians find it difficult to access loans from commercial banks because they cannot […]

Prices of selected food stuff increased in April — NBS

May 23, 2019

The National Bureau of Statistics (NBS) said the average price of some selected food items in the country increased in April. NBS said this in its “Selected Food Price Watch (April 2019)’’ report released on its website. It said the average price of one dozen of medium sized agric egg increased from N459.81 in March […]

Bourse clarifies concerns over MTN listing in Nigeria

May 23, 2019

The Nigerian Stock Exchange was forced on Monday to make clarifications  over media concerns regarding the listing of the shares of Africa’s  largest telecommunication company, MTN, on the local stock market. According to the bourse, as an exchange that is committed to operating a  fair, orderly and transparent market, it was important to clarify some  […]

Wall St. gains on earnings boost, strong economic data

May 16, 2019

U.S. stock indexes rose 1 percent on Monday and were on pace to extend a two-day winning streak, lifted by better-than-expected earnings from Cisco and Walmart, and robust economic data that underscored the strength of the domestic economy. Cisco Systems Inc rose 6.1%, the most among the S&P and the Dow indexes, after the network […]

MPC cut MPR for the first time since 2015 by 50bps

March 26, 2019

At the end of its 2-day policy meeting, in a vote of 6 to 5 members, the Monetary Policy Committee (MPC) voted to cut the monetary policy rate by 50 basis points to 13.5 percent for the first time since September 2015. The committee decided to cut Monetary Policy Rate (MPR) to 13.5 percent, however, they […]