The National Pension Commission (PenCom) has approved 34 primary mortgage banks to participate in the use of the Retirement Savings Accounts (RSAs) for residential mortgage financing in the country. The approved 34 mortgage banks comprised 18 from Lagos, 8 from Abuja and the remaining 8 are from other states. According to the approved list, the […]
…..DMBs to provide N500bn credit to export-oriented firms yearly The Central Bank of Nigeria (CBN) has projected that Nigeria’s non-oil export proceeds for rebates will hit $1 billion by the end of Q4 this year. The CBN Governor, Godwin Emefiele, made this disclosure while briefing journalists at the end of the 13th annual Bankers Committee’s […]
Scores of participants at the just ended 10th Edition of the National Council on Communications and Digital Economy, which held at the University of Ibadan, Oyo State, commended the Federal Government for its commitment in providing leadership and guide for industry growth. The commendation followed the listing at the forum of about 20 policies by […]
Trading activities on the floor of the Nigerian Exchange (NGX) on Friday ended with investors gaining N281 billion as bulls regained grip on the local bourse. Available data on the day’s trading indicated that the All Share Index (ASI) increased by 1.06% to close at 48,881.93 points while market capitalization appreciated by N281 billion. By […]
The Naira exchanged to the US dollar at an average of N745/$1 on Friday at the black market, appreciating by 0.67 percent from N750/$1 it traded on Thursday. The local currency’ N750/$1 exchange rate on Thursday was the lowest value it traded since the beginning of the month. Interestingly, the local currency strengthened by 0.13% against […]
…..Says Banks Have Taken Delivery Of New Notes The Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, said that over N1 trillion had been deposited in the banks by bank customers since the introduction of the new Naira notes redesign measure by the apex bank. Emefiele, who made this disclosure […]
The House of Representatives has asked the Central Bank of Nigeria (CBN) to immediately put on hold the planned implementation of its new policy on revised cash withdrawal limits for individuals and corporate organizations pending the conclusion of its ongoing appraisal of the policy measure. The lawmakers in the lower chamber of the National Assembly, […]
The Naira exchanged to the US dollar at an average of N750/$1 on Thursday at the black market, depreciating by 1.63% from N738/$1 recorded during Wednesday’s trading session The N750/$1 exchange rate was the lowest level recorded by the local currency since the beginning of the month. Also, the Naira recorded a 0.0.93% depreciation against […]
Bears overpowered the bulls in the struggle for Nigeria’s equities market’s control on Thursday, causing investors a loss of N32 billion at the close of the trading session. The bulls had on Wednesday dominated the market and secured a gain of N32 billion for the investors following impressive performance of a few blue chip stocks. […]
Public and private sector stakeholders in the financial services sector have expressed their support for the passage of the Nigeria Deposit Insurance Corporation (NDIC) Act 2006 Amendment Bill currently before the National Assembly. The lead institutions in the sector said that the proposed amendment of the Act would enhance the corporation’s capacity in its sustained […]