CBN injects another $210m into FX market

In its latest round of intervention, the Central Bank of Nigeria (CBN) yesterday injected the sum of $210 million into the inter-bank foreign exchange market. Figures obtained from the apex bank indicate that the authorized dealers in the wholesale segment of the market received the sum of $100 million while the Small and Medium Enterprises…

CISI partners NSE to boost experts in Africa

The Chartered Institute for Securities & Investment (CISI) has announced a new partnership with The Nigerian Stock Exchange (NSE) to provide trainings for CISI’s qualifications in Nigeria, under the auspices of X-Academy, the knowledge platform of NSE. The partnership according to a statement, will result in CISI accrediting X-Academy as its training partner in Nigeria…

‘Why banks shun CBN’s incentives’

Nigerian banks are proving reluctant to take advantage of new rules aimed at boosting loans to the country’s agriculture and manufacturing industries, Bloomberg reported yesterday. The measures introduced by Central Bank of Nigeria (CBN) in August in the hope of stimulating growth, allow banks to use funds that are otherwise sitting in their statutory cash…

Stock market records marginal gain

Trading activities on the floor of the Nigerian Stock Exchange (NSE) yesterday returned to positive trajectory, as the overall market performance indices firmed up marginally with a gain of 0.03 per cent. Consequently, the All-Share Index gained 9.49 basis points or 0.03 per cent to close at 32,152.90 index points as against 32,143.41 recorded the…

Sterling Bank floats world Ist digital commodity marketplace

  Nigeria yesterday set a new global record as the world’s first fully digital, end-to-end blockchain based commodity trading and financing platform was announced by Sterling Bank Plc yesterday, in Lagos. Developed in partnership with Binkabi and AFEX Commodities Exchange, the platform will decentralise Agric commodity trading in Nigeria and all emerging economies, helping to…

Tier 1 banks’ deposits hit N14.55trn in 9 months

  Despite the harsh business environment occasioned by regulatory headwinds and a sluggish economy, deposit money banks (DMBs) in the country continue to record success in their bid to attract more deposits. New Telegraph’s review of the first nine months of 2018 results of the country’s five Tier 1 banks shows that they raked in…

Training deal: CISI, NSE partnership boost for finance professionals in Africa

THE Chartered Institute for Securities & Investment (CISI) London has announced a new partnership with the Nigerian Stock Exchange (NSE) to provide trainings for CISI’s qualifications in Nigeria, under the auspices of X-Academy, the knowledge platform of the Exchange. Continue reading Training deal: CISI, NSE partnership boost for finance professionals in Africa at Vanguard News…

MPC members’ statements highlight banks’ challenges

Despite positive Q3 2018 results, deposit money banks (DMBs) in the Nigeria are clearly grappling with challenges, as personal statements of members of the Central Bank of Nigeria’s (CBN) Monetary Policy Committee (MPC) indicate continuing fragility in the sector. Tony Chukwunyem writes   Given that the personal statements of members of the CBN’s MPC during…

Forgery: Seafarers fret over of members ‘ incarceration

There are moves by seamen associations to rescue their counterparts who are currently in various prisons in the country over illegal documentations, counterfeit permits, certificate forgery and unethical practices. BAYO AKOMOLAFE reports   In the last five years, Nigerian Maritime Administration and Safety Agency (NIMASA) has introduced measures to stop unscrupulous persons from forging its…