FINANCE

The Lift Above Poverty Organisation (LAPO), says it disbursed N12.2 billion as loans to 152,446 rural farmers and owners of Small and Medium Scale Enterprises (SMEs) in 2020. Dr Honestus Obadiora, the Acting Executive Director of the organisation said this while reviewing the 2020 performance report of LAPO Rural Development...

  As part of efforts to promote financial inclusion among the unbanked and underbanked population in Nigeria, innovative telecoms brand, 9mobile, joined Ecobank, Vanguard Newspapers, Sanef, and other stakeholders in the financial sector to brainstorm the germane issues and plot a roadmap to actualizing the cashless policy of the Central...

The International Finance Corporation (IFC), of the World Bank Group, has announced a $50 million loan to Nigeria’s First City Monument Bank (FCMB), Limited for lending to Small and Medium Enterprises (SMEs). In a statement by IFC on Thursday made available to the News Agency of Nigeria (NAN) in Lagos,...

  Minister of Finance Budget and National Planning, Mrs Zainab Ahmed has revealed that once the coronavirus pandemic crisis is over, the focus of the Federal Government of Nigeria (FGN) will be medium-term macroeconomic stability. The Minister who made this known on the ministry’s tweeter handle on Thursday, stressed that...

  President Muhammadu Buhari, on Tuesday, sent an Executive Bill to the Senate that seeks to amend aspects of the recently assented Finance Act, 2019. President of the Senate, Ahmad Lawan, read Buhari’s letter on the floor of the Senate. According to Buhari, the Bill seeks to make clear that...

  AFEX Commodities Exchange Ltd on Wednesday signed a Memorandan of Understanding with the Financial Market Dealers Quotation (FMDQ) to open additional sources of finance for the agricultural sector in the country. Speaking during the signing in Abuja, the Chief Executive Officer of AFEX, Mr Ayodeji Balogun, said the goal...

  The Nigeria Deposit Insurance Corporation (NDIC) has responded to technological innovations and applications in financial services with the establishment of a new “Fintech and Innovations Unit” to align with contemporary trends in advanced economies. The development is also in consonance with the Corporation’s Strategic Vision, which is to become...

The Institute of Chartered Accountants of Nigeria (ICAN), on Thursday in Abuja inaugurated the Nigerian Integrated Reporting Committee (NIRC). The ICAN President, Mr Nnamdi Okwuadigbo said the event signified the beginning of adoption and promotion of integrated reporting in the country. An integrated report is a concise communication about how...

Union Bank of Nigeria Plc has secured $200 million in funding via a partnership with sub-Saharan Africa financial services group, Atlas Mara Limited, in agreement with Overseas Private Investment Corporation (“OPIC”), the U.S. government's development finance institution. Under the terms of the agreement, Union Bank will receive a ten-year term...

The World Bank says it is in talks with the Federal Government of Nigerian  for a $2.5 billion loan to resolve the problems of the country’s power sector. World Bank’s Vice President for Africa, Hafez Ghanem said this while addressing journalists in Abuja, Bloomberg reported on Wednesday. “We’re talking about...