archiveAugust 2017

Ecobank Nigeria has again reviewed upwards the daily limit that customers can spend with their naira MasterCards for international transactions. With this review, the spending limits currently applicable for customers, using an Ecobank naira MasterCard, for international spend on Point of Sale (PoS) and online channels was raised from $300...

The Nigerian Stock Exchange (NSE) All-Share Index and Market Capitalization depreciated by 0.74 per cent this week to close the week at 36,646.46 and N12.631 trillion respectively. Similarly, all other Indices finished lower during the week with the exception of the NSE Main Board, NSE Banking and NSE Consumer Goods...

The Nigerian Stock Exchange All Share Index (NSE ASI) and the Market Capitalization increased by 0.19 per cent, while the year-to-date return stood at 36.36 per cent. The All-Share Index closed at 36,646.46 against the previous close of 36,575.86 while Market Capitalization closed at ₦12.631 trillion against previous close of...

Nigeria’s oil minister said the government launched a fund on Thursday with an initial value of $200 million to support local oil and gas firms, part of a government drive to improve access to low-cost credit across the economy, Reuters reports. The Nigerian Content Development Fund (NCDF) would be financed...

The Senior Staff Association of Nigerian Universities (SSANU), Non-Academic Staff Union of Universities (NASU) and the National Association of Academic Technologists (NAAT) have said they will commence a nationwide indefinite strike next week Wednesday. This position was revealed by the Joint Action Committee of the three unions in a joint...

United Bank for Africa (UBA) Plc has announced its audited half-year financial results ended June 30, 2017, showing remarkable performance across major metrics even as its gross earnings for the period grew by 34.5 per cent to N222.7 billion, as against N165.6 billion reported in June 2016. This impressive performance,...

In its bid to strongly drive its strategic business focus on rural economy, Unity Bank Plc has developed a product called NIRSAL Farmers Savings Account specifically designed as a platform to execute a key aspect of the service level agreement for the NIRSAL UNITY BANK channel partnership to bank farmers...

The Central Bank of Nigeria (CBN), on Thursday introduced two financial instruments for intra-day and overnight liquidity for Non-Interest Financial Institutions (NIFI). The instruments targeted at liquidity management and deepening of the financial system are known as: “Funding for Liquidity Facility (FfLF)” and “Intra-Day Facility (IDF).” A circular on CBN...

United Bank for Africa (UBA) Plc has reversed the Thursday’s announcement banning the use of its debit and credit cards in making certain purchases, the bank’s authorities have said the cards could be used on any credible platform and for the purchase of any service the card holder desires. The...

The Federal Government of Nigerian has asked the court to revoke the bail granted leader of the Indigenous People of Biafra, Mr. Nnamdi Kanu. According to a statement by the office of the Attorney General, Abubakar Malami, on Friday, the Nigerian government also asked the court to order the arrest...