Osun State government has disbursed over N4 billion to Micro, Small and Medium Enterprises (MSMEs) in the state. The Commissioner for Commerce, Industries, Cooperatives and Empowerment, Mr. Ismaila Jayeoba-Alagbada, stated this at a press conference in Osogbo yesterday. “Through effective and efficient credit administration and management, the initial fund released to the agency by the…

Owing to discrepancies in official figures, the Central Bank of Nigeria (CBN) and the African Institute for Remittances (AIR) have kicked off a training leading to a household survey for ascertainment of remittances from Nigerians abroad. The study holds in the first quarter of next year. Sponsored by the World Bank and the African Union…

From the the nation’s money changers came a positive claims of Naira stability and increase in job creation in thousands, made possible by the sustained foreign exchange interventions by the Central Bank of Nigeria (CBN).   Under the aegis of the Association of Bureaux De Change Operators of Nigeria (ABCON), they affirmed that the 163…

As the Federal Government steps up plans to offer more of its assets for sale under the ongoing privatisation programme, stakeholders in Nigeria’s capital have renewed the call to ensure that the exercise is done through the capital market.

A new collaboration involing the Central Bank of Nigeria (CBN), the Nigeria Communication commission (NCC) and the Telecommunication Companies (Telcos) would strengthen efforts to clampdown on SIM identity theft fraudsters in the country. To this end, they would embark on intensive public education, using the social media, the Director of Banking and Payment System Department…

Commentary on the foreign exchange (FX) market with data for the week-ended October 19, 2018. ▪ The Central Bank of Nigeria (CBN) intervened through its periodic supply of United States (US) Dollars in the FX market, offering $100.00 million via a Single Secondary Market Intervention Sales (SMIS) - Wholesale auction held during the week-ended October…

Nigerian financial system has been jolted by a lethal development; and that is the growing activities of cyber criminals who work in and outside the system. Website cloing, Identity fraud and Automated Teller Machine (ATM) scams, are now so rampant that the Central Bank of Nigeria (CBN), banks, switching companies, the police and users are…

A report the other day that Nigeria of barely 198 million people has just dethroned India of more than one billion people as the global capital of extreme poverty is a sad commentary of public affairs in the county. It should be an unacceptable paradox of development that the world’s most populous black nation on…

As fintech continues to revolutionalise financial services in Nigeria, the Central Bank of Nigeria (CBN) and the Chartered Institute of Bankers of Nigeria (CIBN) have advised risk managers to stay ahead of trends and step up their risk management mechanisms to avert imminent risks that may arise from modern technology. Speaking at the Risk Management…

The Central Bank of Nigeria (CBN) has said it will provide a flexible regulatory benchmark for tech start-ups and entrepreneurs to test business ideas on viability and get easy access to funds. This, the apex bank said is in line with its support for start-ups who have business ideas and solutions but lack funds and…

The Central Bank of Nigeria (CBN) governor, Mr Godwin Emefiele, says maintaining stable exchange rate to avoid depreciation of the Naira is better than building foreign reserve buffers. Emefiele told newsmen on Sunday that this was part of the outcome of the Nigerian delegation’s meetings with investors and institutions at the International Monetary Fund (IMF)…

While every one would want interest rate cut at the end of meetings by the policy making arm of the Central Bank of Nigeria (CBN), it would be hope deferred again for the 13th time, because of expected domestic and foreign backlash.   Meanwhile a poll of analysts’ opinions and projections on the decisions of…