Worried by the recent alleged abuses in the disbursement of poverty alleviation funds by the Ministry of Humanitarian Affairs, some leading banking and development experts have called on the Federal Government to begin to use of Microfinance Banks (MFBs) in the disbursement of such funds in order to achieve the objectives of the poverty alleviation […]
The Centre for the Promotion of Private Enterprise (CPPE), one of Nigeria’s private sector advocacy groups, has described the recent decision by the Central Bank of Nigeria (CBN) to increase the Customs Exchange rate from N783 to N952/$1 as undesirable for the economy, warning that it will worsen the already prohibitive production and operating costs […]
The Federal Government has, through the Central Bank of Nigeria, reviewed upward the official exchange rate of the Naira for cargo clearance from N783/$ to N952/$. The latest policy came barely three weeks after the rate was adjusted from N757/$1 to N783/$1, representing a 3.4 per cent increase. Our correspondent noted that on Thursday, the […]
….as President solicits bankers’ support for growth The Chartered Institute of Bankers of Nigeria (CIBN) on Wednesday commended President Bola Tinubu’s economic reform initiatives tagged ‘Renewed Hope Agenda’, saying the ongoing implementation of the agenda will help grow the economy. The President and Chairman of Council of the professional body, Ken Opara, gave this scorecard […]
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 […]
President Mohammadu Buhari has urged the banking industry to develop innovative products and services in line with global best practices in order to meet the growing expectations of their customers for best, real-time services. The President gave the advice on Tuesday at the 15th Annual Banking and Finance Conference with the theme ‘Repositioning the Financial […]
The CRC Credit Bureau Limited had secured the Certificate of Accreditation as an Education/Training Service Provider (ETSPs) of the Chartered Institute of Bankers of Nigeria (CIBN). The certificate was presented on Tuesday by the Institute’s President/Chairman of Council, Dr. Bayo Olugbemi to the Bureau’s Group Managing Director/CEO, Dr. ‘Tunde Popoola, in furtherance to receiving the […]
Barely a week after the Central Bank of Nigeria (CBN) projected that Nigeria’s economy would record between 2.5% and 3% GDP growth by year end, JP Morgan, a global banking giant, has predicted that the economy may not record more than half of the apex bank’s projection, estimating that it may record a mere 1.5% […]
The Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, on Tuesday predicted that Nigeria’s economy would record between 2.5% and 3.0% growth this year despite the lingering impact of COVID-19 pandemic across all the broad sectors of the nation’s economy. Specifically, the top banker said that the apex bank was targeting a 15 percent inflation […]
The Chartered Institute of Bankers of Nigeria (CIBN) reported that it handled 67 petitions lodged by depositors against banks with their claims amounting to N11.7 billion in the 2020 financial year. The professional body, which stated this in its 2020 Annual Report sourced by our correspondent at the weekend, indicated that out of the cases, […]