Banking and Finance News & Reports

Ecobank Assures Farmers of Seamless Processes as They Access Agric Loans

Ecobank Nigeria has assured farmers who are beneficiaries of the Anchor Borrowers programmes for the 2020 wet season and members of the Maize Growers, Processors and Marketers Association of Nigeria, MAGPAMAN, of a seamless account opening and loan processing. According to the bank, farmers need not panic as it is committed and will make sure …read more →

Banking and Finance News & Reports

Ecobank Offers Zero Fees on Rapidtransfer

Ecobank Nigeria is offering zero fees for money transfers on the Rapidtransfer App from now till October 31, in commemoration of the National Diaspora Day. The Federal Government has set aside July 25, of every year as the National Diaspora Day in recognition of the contributions of Nigerians living outside the country towards the development of their homeland. Rapidtransfer …read more →

Banking and Finance Economy News & Reports

Nigeria Sells N265.94 Billion Worth of Treasury Bills

Nigeria’s Debt Management Office (DMO) sold a total of N265.94 billion across all three tenors of Treasury bills on offer against N468.25 billion total subscriptions from investors. The nation on Wednesday surprisingly increased marginally the yield on its 1-year Treasury bond at an auction, but dropped rates it sold the 3-month and 6-month tenor paper. …read more →

Banking and Finance Economy News & Reports

CBN Retains MPR at 12 Percent to Stabilise Economy

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has retained Monetary Policy Rate (MPR) at 12.5 percent and held all other policy parameters constant. The CBN Governor, Mr. Godwin Emefiele made the pronouncement while reading the communique after the MPC meeting in Abuja yesterday. Emefiele also said that the committee retained …read more →

Banking and Finance Economy News & Reports

Diaspora Contributions to Development Excites President Buhari

President Muhammadu Buhari has commended the contributions of Nigerians in Diaspora to the social-economic development of the country. Buhari said this at the maiden Virtual National Diaspora Day celebration held via Webinar with the theme for the event was “Leverage the Diaspora Resources for National Development.” He said that over the past three years, Nigerians …read more →

Banking and Finance News & Reports

CBN Okays N50b revival fund for Textile Industry

The Central Bank of Nigeria (CBN) has announced N50 billion special mechanism funds to revive the ailing textiles industry. The funds which will be administered by the Bank of industry (BoI) at 4.5 per cent interest rate will use any of the CBN-approved non-interest financing instruments for refinancing of projects, long- term financing for acquisition …read more →

AFRICAReports Banking and Finance News & Reports Telecom

Cross-Border Money Transfers: Airtel Africa Partners Mukuru in 12 African Countries

Airtel Africa and Mukuru have partnered to enable Mukuru customers to instantly send cross-border transfers directly to Airtel Money customer wallets in 12 African countries. Mr Raghunath Mandava, the Chief Executive Officer, Airtel Africa, said this in a statement made available to newsmen on Thursday, in Lagos. According to Mandava, the partnership will, particularly, be …read more →

Banking and Finance

Heirs Holdings, Elumelu Increase Stake in UBA with N288M worth of Additional Shares

Heirs Holdings and the Chairman of United Bank for Africa plc (UBA), Tony Elumelu have increased their stakes in UBA by a total of N288.4 million worth of additional shares in the bank. The deal saw both Elumelu and Heirs Holdings acquiring additional 62,643,500 shares from the market on Monday, to further increase his stakes …read more →

Banking and Finance Infrastructure Financing

Fidelity Bank: Onyeali-Ikpe Takes Over From Okonkwo as MD/CEO In 2021

The Board of Directors of Fidelity Bank Plc has announced the approved appointment of Mrs. Nneka Onyeali-Ikpe, as the MD/CEO Designate following impending retirement of Mr. Nnamdi J. Okonkwo, the Managing Director/Chief Executive Officer (MD/CEO) of Fidelity Bank Plc come December 31st 2020. Mrs. Onyeali-Ikpe, the current Executive Director, Lagos and South West Directorate will …read more →