In pursuit of its mandate of providing funding and other capacity building supports to the nation’s industrial entities, the Bank of Industry (BoI), increased its lending to Micro, Small and Medium Enterprises (MSMEs) N29.5 billion last year, up from the N8.2 billion in 2016. This is even as the bank’s disbursement profile also rose significantly […]
Fitch Ratings has upgraded First Bank of Nigeria’s (FBN) subordinated notes to ‘CCC+’/’RR5’ from ‘CCC’/’RR5’ and also removed the bank from Rating Watch Positive (RWP). The notes were issued through FBN Finance Company BV, a special purpose vehicle that was created to provide funding for the bank. FBN’s other ratings are unaffected. According to the […]
The Nigerian Communications Commission (NCC) yesterday said that it remitted N49.7 billion to the Federal Government in the first quarter of the current fiscal year. The Commission’s Director of Public Affairs, Mr Tony Ojobo, who made the closure in a statement, indicated that the figure represented the “Payment on Account” in respect of operating surplus […]
The Federal Government disclosed today that it raised N345.75 million from the sales of savings bond in March and April this year. According to the details of the debt instrument transactions published on website of the Debt Management Office (DMO) , N151.82 million was allotted in March and N193.93 million in the April sales. A […]
Diamond Bank Plc, one of Nigeria’s fastest growing retail banks, is set to sell its United Kingdom (UK) banking operations, Diamond Bank UK, in order to focus fully on Nigeria and its significant retail banking opportunities. As part of the process, the bank’s management has signed a Share Sale and Purchase Agreement with a member […]
The Federal Executive Council yesterday approved the sum of N64.108 billion for the additional work to be done on Section I of the Lagos to the Sagamu interchange of Lagos-Ibadan expressway project. This is even as the council also that the council approved new establishment of 10 new rice mills at a cost of N10.7 […]
The Nigerian Communications Commission (NCC) has said that national roaming and active infrastructure sharing has the potential of ending rural-urban digital divide in the country. The NCC Executive Vice-Chairman, Prof. Umar Danbatta, stated this at a stakeholders’ forum on “Development of Framework for National Roaming and Active Infrastructure Sharing in Nigeria’’ held in Lagos. Danbatta, […]
In furtherance of its commitment to women empowerment, SME and youth development which are all pivotal to the sustainable growth of the economy, First Bank of Nigeria Limited, today flagged off its multi-pronged SME support programme- SMEConnect Series – in Lagos. The programme is- developed by the Bank to chart a veritable course for SME […]
Goldlink Insurance Plc, one of Nigeria’s leading risk underwriting company, has unveiled plans to raise N10 billion through rights issue and ordinary as well as preference share. The company’s Acting Managing Director and Chief Executive Officer, Mrs. Funke Moore, who gave this hint during a pre-Annual General meeting (AGM) media chat, confirmed that the National […]
Less than one week after introducing N3,000 Adult Levy in Imo State, Governor Rochas Okorocha, is under vitriolic attacks from aggrieved indigenes of the state who felt the fiscal measure was one tax too many. The Imo State Government had last Friday, in a statement by the state’s Commissioner for Community Government, Culture and Traditional […]