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Market Formation Framework Key To Solid Minerals Sector Devt – Sekibo

The Managing Director, Heritage Bank Plc, Ifie Sekibo, has identified market formation framework as crucial to optimally exploit Nigeria’s precious metal and solid minerals endowments for national development.. The seasoned banker made this remark during a webinar organised by the Securities and Exchange Commission (SEC) in collaboration with the Federal Ministry of Mines and Steel […]

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COVID 19: Nigeria Reports $5Bn Decline In 2020 Remittances

The Federal Government on Thursday disclosed that the COVID-19 pandemic reduced by $5 billion, representing about 20 percent, the estimated $25bn Diasporan remittances to Nigeria last year The Chairman, Nigerians in Diaspora Commission (NIDCOM), Hon. Abike Dabiri-Erewa, gave this hint at a media briefing in Abuja to announce the 2021 Diaspora Day celebration scheduled for […]

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Why Nigeria Accounts For Huge Drop In Remittances To Africa – Researchers

As emerging markets around the world continue their recovery from Covid-19, a report by Oxford Business Group, a leading economic research organization, has indicated that the substantial drop in global remittances to Sub-Saharan Africa (SSA), is largely attributable to diversion of Nigeria’s foreign exchange inflows to informal, undocumented channels This is even when remittances are […]

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During TAJBank Management’s Courtesy Visit To Tanzania High Commissioner In Nigeria

L-R: Tanzania High Commissioner in Nigeria, His Excellency Dr. Benson Alfred Bana; Founder/Chief Operating Officer TAJBank Limited, Mr. Hamid Joda; and the bank’s Co-Founder/Chief Marketing Officer, Mr. Sherif Idi; when the bank’s management paid a courtesy visit to the High Commissioner to discuss investment opportunities in Tanzania and Nigeria and how TAJBank could support investors […]

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FCMB Board Announces Yemisi Edun As New Managing Director

The Board of Directors of FCMB Group Plc on Tuesday announced the appointment of Yemisi Edun as the Managing Director of First City Monument Bank (FCMB) Limited. This announcement is sequel to the end of service of the bank’s former Managing Director, Mr. Adam Nuru. The Board had earlier reviewed media allegations made in late […]

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CSEA Advises CBN On Monetary Policy Options To Tackle Inflation

The Centre for the Study of Economies of Africa (CSEA), a research firm committed to analytical researches on Africa’s economic trends, has advised the Central Bank of Nigeria (CBN) to consider reviewing the Monetary Policy Rate (MPR) as a desirable monetary option to thawing Nigeria’s rising Inflation rates. Specifically, the CSEA researchers pointed out that […]

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CBN Releases Guidelines/Framework For Mobile Money Services

Barely three days after it released a new regulatory framework guiding the operations of for Payment Service Banks (PSBs), the Central Bank of Nigeria (CBN) at the weekend released a new Regulatory Guidelines and Framework for Mobile Money Services (MMS) in the country. The apex bank stated that the introduction of mobile telephony in Nigeria […]

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NDIC Seeks Inclusion Of Deposit Insurance System Into ICAN’s Programmes

The Managing Director of the Nigeria Deposit Insurance Corporation (NDIC), Mr. Bello Hassan, has charged the leadership of the Institute of Chartered Accountants of Nigeria (ICAN) to include courses on the deposit insurance system (DIS) into the Institute’s programmes and modules in order to deepen the understanding of the scheme by the banking public. Hassan […]

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CBN Issues New Regulatory Framework For Payment Service Banks

The Central Bank of Nigeria (CBN) has issued a Supervisory Framework for Payment Service Banks (PSBs) in furtherance of its sustained efforts to improve the efficiency of the nation’s banking system operations. The apex bank, in the framework published on Thursday, directed that the PSBs must operate mostly in the rural areas and unbanked locations […]