Wikirise
All posts tagged "Banking & Finance"
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79NewsEx-CBN Deputy Governor, Mailafia Is Dead
A former Deputy Governor of the Central Bank of Nigeria, Dr. Obadiah Mailafia is dead. He died at the age of 64. The family lawyer, Mr Yakubu Bawa, confirmed the news to Channels Television on Sunday morning. He said Dr Mailafia died in the early hours of the day in...
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92BusinessWorld Bank battles integrity issues, discontinues Doing Business reports
The World Bank Group announced on Thursday that it was discontinuing the ‘Doing Business report’ after data regularities were discovered in its Doing Business 2018 and 2020. In an investigation of Data Irregularities in Doing Business 2018 and Doing Business 2020 report, law firm WilmerHale discovered irregularities in data for...
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11BusinessCBN retains lending rate at 11.5%
The Monetary Policy Committee of the Central Bank of Nigeria has retained the Monetary Policy Rate at 11.5 per cent. The CBN Governor, Godwin Emefiele, disclosed this after the committee’s two-day meeting in Abuja on Thursday. It also retained the Cash Reserve Ratio and Liquidity Ratio at 27.5 per cent...
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11BusinessIMF chief denies altering World Bank report to appease China
IMF chief Kristalina Georgieva on Thursday disputed an independent investigation which found that in her previous job at the World Bank, she pressed staff to alter a report to avoid angering China. Based on the findings, the World Bank announced it was immediately discontinuing its Doing Business report after the...
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71BusinessCBN Cannot Continue Selling Dollars To People Who Buy Arms – Emefiele
The Central Bank of Nigeria (CBN) says it cannot continue to sell dollars to people who purchase arms to hurt Nigerians. CBN Governor, Godwin Emefiele, stated this on Friday after the Monetary Policy Committee (MPC) meeting which was held in Abuja, the nation’s capital. Emefiele explained that the financial markets...
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48BusinessMo Ibrahim Foundation Leadership Fellowship Program 2022 – African Development Bank (AfDB)
African Development Bank Group (AfDB) – Established in 1964, the African Development Bank is the premier pan-African development institution, promoting economic growth and social progress across the continent. There are 80 member states, including 54 in Africa (Regional Member Countries). The Bank’s development agenda is delivering the financial and technical...
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67Business
CBN to establish Nigerian International financial Centre to attract foreign investors
The Central Bank of Nigeria (CBN) has announced that the Nigerian International Financial Centre (NIFC) will be established to act as a gateway for funds and investments into the country. According to the CBN, the centre will be driven by technology and payment system infrastructure. Governor Godwin Emefiele made the...
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68Business
FG to unveil N15trn infrastructure company in October — CBN
Plans are underway for establishment of the Nigerian International Financial Centre, NIFC, in the next 12 months, just as the Central Bank of Nigeria, CBN, gets set to roll out the N15 trillion Infrastructure Corporation of Nigeria (Infra-Co) next month. Disclosing these at the ongoing 14th annual banking and finance...
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74BusinessAfDB approves $50m facility for Standard Chartered Bank
The African Development Bank Group has approved a $50m Trade Finance Unfunded Risk Participation Agreement for Standard Chartered Bank. This was contained in a statement titled ‘African Development Bank approves a $50m Multinational Trade Finance Risk Participation Agreement facility for Standard Chartered Bank’ published on the bank’s website on Wednesday....
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54BusinessAccess Bank launches $500m senior unsecured Eurobond
Access Bank reported the complete pricing of a United States $500m senior unsecured Eurobond to provide medium-term funding and help enhance its capacity to support its general banking activities. In a statement released to the Nigerian Exchange Limited and the investing public, the bank said the five-year unsecured note (144A/RegS)...
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49BusinessCBN does not believe in or support the Ministry of Mines and Steel – Minister
Dr. Uche Ogah, Minister of State for Mines and Steel Development, has lamented the Central Bank of Nigeria’s lack of assistance for the development of the mines and the solid mineral sector. At a two-day public hearing organized by the Senate Committee on Solid Minerals, Mines, Steel Development, and Metallurgy,...
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58Business
Non-performing loans declining but remain above benchmark – CBN
The non-performing loans in the banking sector slightly declined from 5.8 per cent in May to 5.7 per cent in June, showing more resilience in the banking sector. The Central Bank of Nigeria disclosed this in the personal statements of members of the Monetary Policy Committee. According to a member...
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91Business
CBN fixes October for launch of N15trn infrastructure fund
The Central Bank of Nigeria announced that InfraCorp Plc, the N15trn Infrastructure Fund which will boost funding for capital projects, will be launched in October. The CBN Governor, Godwin Emefiele, disclosed this on Tuesday in Abuja at the annual banking and finance conference organised by the Chartered Institute of Bankers...
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17BusinessWhy Nigeria needs property data bank across state capitals – NIESV
The Nigerian Institution of Estate Surveyors and Valuers has called for the provision of a property data bank for all state capitals and major cities in Nigeria. This was disclosed by the group through its President, Emmanuel Wike, during his recent visit to the Minister of Works and Housing, Mr Babatunde...
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53BusinessCBN directs Niger State banks to continue strike amid tax crisis
Commercial banks in Niger State have been ordered by the Central Bank of Nigeria (CBN) to go on strike unless the state’s Internal Revenue Service withdraws the tax levied against them. According to a communication to banks’ staff seen by Daily Trust from one of the affected bank’s branch managers, the apex...