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All posts by BusinessNews Staff

  • Access Bank, Verve promote cashless transaction

    Access Bank Plc has partnered Verve International to promote cashless transactions in the country. The lender said the collaboration was designed to enhance customer education and financial inclusion. The Head, Retail Channels, Access Bank, Uloma Ike, said...

    • Posted August 19, 2016
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  • CBN grants Fidelity Bank e-commerce licence

    The Central Bank of Nigeria has granted Fidelity Bank Plc final licence to operate electronic commerce services in Nigeria. In a statement on Thursday, it said the development would enable the lender to empower Micro Small Medium...

    • Posted August 19, 2016
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  • FG borrows N110bn via bonds

    The Federal Government on Wednesday at an auction raised N110bn worth of bonds maturing in 2021, 2026 and 2036, the Debt Management Office said According to DMO’s auction result obtained from its website on Wednesday, it sold...

    • Posted August 19, 2016
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  • Nigerians received lowest electricity supply in May — Report

    Power generation in Nigeria fell to a record low in May, with households experiencing an average daily cumulative supply at 5.6 hours, a new report by NOIPolls has revealed. The report, which was released on Wednesday, noted...

    • Posted August 19, 2016
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  • NEXIM highlights opportunities in non-oil export facilities

    The Nigerian Export Import Bank (NEXIM Bank) has advised exporters to take advantage of the N500billion non-oil Export Stimulation Facility (ESF) as well as the expansion of the export credit Rediscounting and Refinancing Facilities (RRF) to boost...

    • Posted August 18, 2016
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  • External reserves down as CBN settles matured obligations

    Nigeria’s external reserves diminished to $25.860 billion as at August 12, 2016, following the settlement of matured obligation by the Central Bank of Nigeria (CBN). The latest external reserves position revealed by the CBN showed that the...

    • Posted August 18, 2016
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  • NAICOM bars insurers from selling products through banks

    The National Insurance Commission has barred all underwriting companies from selling their products through the banks and other financial institutions. The Commissioner for Insurance, Mr. Mohammed Kari, said this during the investiture ceremony of the Managing Director,...

    • Posted August 18, 2016
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  • FG needs $7bn to kick-start mines, steel industry

    The Federal Government is seeking investments worth $7bn in mining and steel over the next decade as it targets the development of gold and iron ore extraction industries to diversify the nation’s oil-dependent economy. One of the...

    • Posted August 18, 2016
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  • BDCs: CBN increases dollar sale to $50,000

    The Central Bank of Nigeria has approved an increase in the maximum amount that could be sold to the Bureau De Change operators from $30,000 to $50,000 per week. The decision was taken at the Bankers’ Committee...

    • Posted August 18, 2016
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  • Customs shut SAHCOL, NAHCO warehouses at Lagos airport

    The Nigeria Customs Service has sealed off the warehouses of the Nigerian Aviation Handling Company Plc and the Skyway Aviation Handling Company Limited at the Lagos airport over stolen donkey skins from Kenya. As of the time...

    • Posted August 18, 2016
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