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CBN Charges OFIs On Cybersecurity Guidelines’ Compliance

The Central Bank of Nigeria (CBN) has issued new guidelines for improved cybersecurity in the Nigerian financial system, particularly among the Other Financial Institutions (OFIs). The guidelines outline the requirements the OFIs were requested to observe in the development and implementation of strategies, policies, procedures and related activities aimed at mitigating cyber risks. The apex […]

Banking Investments/Capital Market Latest News Planning & Economic Development Political Economy

AfDB Launches First ESG African Frontier-Currency Bond

The African Development Bank ( on 14 June 2022 launched a 19-billion Ugandan shilling (UGX) ($5.07 million) 2-year theme bond, the first-ever African frontier currency-denominated environmental, social and governance (ESG) issuance by a multilateral development institution. The bond, due in June 2024, will be settled in dollars at a fixed coupon of 10.5%. It was […]

Banking Economy News Extra Investments/Capital Market Latest News Planning & Economic Development

NGX, BOI Partner On Capital Market’s Inclusive Growth Drive

The Nigerian Exchange Limited (“NGX”) and Bank of Industry (“BOI”) have signed a Memorandum of Understanding (MoU) to deepen the nation’s capital market penetration, build the capacity of stakeholders through financial literacy programmes, and facilitate market advocacy initiatives and promote listings, amongst other benefits to the economy. The sealing of the pact was done by […]

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Fitch Upgrades Fidelity Bank’s IDR From ‘B-’ to ‘B’

Fitch Ratings, one of the leading global rating agencies, has upgraded Fidelity Bank Plc’s long-term issuer default rating (IDR) from ‘B-’ to ‘B’, reflecting the bank’s increased creditworthiness. Fitch also upgraded the bank’s National Long-Term Rating to ‘A(nga)’ from ‘BBB+(nga)’. According to the rating agency, the upgrade is a result of the Bank’s improving business […]

Accounting & Financial Reports Banking Latest News Planning & Economic Development

TAJBank Charts Roadmap For Future Growth At 3rd AGM

…eyes National Bank Licence Encouraged by the impressive financial and other operational performance indices recorded since it debuted as a non-interest bank in Nigeria two years ago, the Board and Management of TAJBank Limited on Wednesday highlighted indices to ensure its continuous and sustainable growth in the years ahead. The Managing Director/CEO of the bank, […]

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ADF Board Approves $2Mn Grant For ECOWAS’ Electricity Reforms

The Board of Directors of the African Development Fund (ADF) has approved a technical assistance grant of $2 million to fund research that will contribute to electricity reforms in the Economic Community of West African States (ECOWAS). The approved grant, which is the concessional window of the African Development Bank Group (AfDB), will be paid […]

Banking Health & Environment Latest News

COVID-19 Pandemic Spurs Financial Inclusion Globally – World Bank

The World Bank Group has reported that despite its devastating impacts on the global economic system, the COVID-19 pandemic encouraged financial inclusion and also led to increase in digital payments globally. The multilateral financial institution gave this hint on Wednesday in its latest Global Findex 2021 database, noting that the expansion creates new economic opportunities […]

Banking Investments/Capital Market Latest News

I&E Window Attracted Over $50Bn Investments To Nigeria – Emefiele

Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has disclosed that the investors and exporters (I&E) window of the foreign exchange (forex) market attracted over $50 billion in investments to the country within three years. The I&E FX window is the market trading segment for investors, exporters and end-users that allows for […]

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NDIC Seeks Stronger Ties With ICPC On NACS’ Implementation

The Nigeria Deposit Insurance Corporation (NDIC) has advocated the need for stronger collaboration between it and the Independent Corrupt Practices and Other Related Offences Commission (ICPC) on the implementation of the National Anti-Corruption Strategy (NACS) in the corporation. The corporation’s Chairman, Mrs. Ronke Sokefun, was quoted in a statement by the Director, Communication and Public […]