Central Bank of Nigeria holds benchmark lending rate at 11.5% The Central Bank of Nigeria, CBN, has held its benchmark lending rate at 11.5 per cent at its first interest rate meeting of 2021, as it battles to combat rising inflation and a recession. According to Reuters, Governor Godwin Emefiele said all 10 members […]
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COVID-19: CBN cautions FG against another lockdown By Eyo Nsima As the Federal Government to tackle the Corovarus pandemic, the Central Bank of Nigeria, CBN, has warned against imposing another total lockdown, arguing that it would impact negatively on the nation’s economy. The CBN Governor, Godwin Emefiele, who disclosed this in a communique issued at
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We’ll utilize petroleum revenue to develop Nigeria’s non-oil sector — President Buhari President Muhammadu Buhari, has promised to utilize the oil and gas revenue for diversification of Nigeria’s economy. The President, who spoke at the virtual inauguration of the National Oil and Gas Excellence Centre at the Department of Petroleum Resources headquarters, Lagos,
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The African Development Bank administers the ABABI, a family of African bond indices launched in February 2015 and calculated by the independent, global index provider Bloomberg The African Development Bank has announced the addition of two new countries – Mauritius and Morocco – to its Bloomberg African Bond Indices (ABABI), marking a steady progress in
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Nigeria’s Net forex inflow drops by 26% to $3.87bn — CBN Net foreign exchange (forex) inflow into Nigeria’s economy dropped by 26 percent, month-on-month to $3.87 billion in October from $5.23 billion in September last year. The decline was driven by an 11.9 percent drop in foreign exchange inflow caused by 39.6 percent and
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First ever international virtual exhibition for Madinah dates organised under Aid for Trade Initiative for Arab States (AfTIAS) Under the patronage of HRH Prince Faisal bin Salman bin Abdul Aziz Al Saud, Governor of the Madinah Province, the Madinah Chamber of Commerce and Industry (MCCI), in cooperation with the Islamic Development Bank Group (IsDBG), the
Enables bank to expand its offering to power digital payment acceptance among SMEs, large corporations, public institutions and individuals NBS Bank, a leading commercial bank in Malawi, launches its state of the art e-commerce platform, powered by Network International (www.Network.ae), the leading enabler of digital commerce across Africa and the Middle East. The implementation of
Installations are expected to commence in Benin City on April 1st, 2021 As part of its commitment to ensuring access to affordable broadband connectivity in Africa’s underserved populations, Tizeti (www.Tizeti.com), West Africa’s pioneer solar-based internet service provider is rolling out its 4G LTE network in Edo State, with monthly fixed broadband costs pegged at four
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Verdant Capital completed transactions in most major sectors of the economy including, financial services, financial technology or “fintech”, telecoms and agro-business Africa Global Funds, the leading industry journal covering private equity and other asset classes across Africa, awarded this accolade to Verdant Capital in recognition of the firm’s major transaction volumes in 2020 across M&A
Temenos technology supports Bank of Khyber’s strategic objectives to increase market share and drive sustainable growth by optimizing its banking operations and reducing operational costs Bank of Khyber (“BoK”) (http://BoK.com.pk) which is a leading bank in Khyber Pakhtunkhwa, Pakistan, with 175 branches, successfully went live with Temenos Transact (www.Temenos.com) the next-generation core banking, Temenos Infinity
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