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The International Monetary Fund (IMF) says non-performing loans across Nigerian banks have increased by more than double since 2015. This was revealed by the IMF staff team, which visited Nigeria from July 20 to July 31, to discuss recent economic and financial developments, update macroeconomic projections, and review reform implementation. The team, led by Amine Mati, senior resident representative and …

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A group of Nigerian banks has agreed to an extension of a $1.2 billion loan made to 9mobile, formerly Etisalat Nigeria, pending when the mobile operator’s finds new investors, FCMB bank said on Tuesday. Nigerian regulators stepped in last month to save Etisalat Nigeria from collapse and prevent lenders placing the country’s fourth biggest telecoms group into receivership, prompting a …

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Electricity consumers serviced by the nation’s 11 Distribution Companies (Discos) may soon be on collision course with the power vendors over impending moves to increase energy tariff by about 46 per cent, amidst worsening power supply. The looming stand-off comes as  the 11 Discos across the country have written the Nigerian Electricity Regulatory Commission (NERC), seeking its approval to raise power …

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The Centre for Social Justice (CSJ) has said that the Medium Term Expenditure Framework 2018-2020 for the proposed N7.9 trillion 2018 budget does not meet standard and is unachievable. The lead director of the centre Eze Onyekpere said in a statement that beyond the slides presented by the Minister of Budget and National Planning Udoma Udoma at a briefing, the …

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Activities on the floor of Nigerian Stock Exchange (NSE) on Monday which was the last trading day for the month of July 2017 witnessed profit taking among investors that have made profits in their respective stock dragging the key market indicators down by 2.77 percent, while the year to date return stood at 33.37 percent. The All Share Index closed …

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Heritage Bank Plc, has taken aggressive approach to support the Central Bank of Nigeria’s initiative to curb the unbanked Nigerians in the rural areas by 20 percent by 2020, thereby offering financial services to the nooks and crannies of Nigerian communities; providing access to underserved markets. The policy was sequel to a research conducted by an international agency, Enhancing Financial …

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Photo Caption: Advertisement From Left: Boluwatiwi Omidiji, CSR Analysts, The Nigerian Stock Exchange (NSE); Pai Gamde, Ag. Head, Corporate Services Division, NSE; Ambassador Maria Auxiliadora Figueiredo, Consul-General Designate, Brazil; Chief Dr. Mrs. Nike Akande, President, Lagos Chamber of Commerce & Industry (LCCI) and Olumide Orojimi, Head, Corporate Communications, NSE at the 2017 LCCI Commerce & Industry Award Ceremony where NSE …

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Keystone bank on Monday as part of growth strategy launched an Unstructured Supplementary Service Data (USSD) *533# code service that enable its customer transfer fund without requiring data services on their phone. Built on the USSD interface, Keystone bank’s *533# banking works on any type of mobile phone and does not require internet access. Addressing the press at the launching, …

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The Vice Chairman of C & I Leasing Plc, Emeka Ndu has projected that the company will achieve a turnover of N30 billion in 2019 following the positive outlook for its operation in the domestic economy. Specifically, he said on the company’s financial forecast, the company will attain a turnover of N23, 927 billion in 2017 and N26, 319 billion …

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The Central Bank of Nigeria (CBN) will be addressing key issues confronting the e-payment industry at a Bi-Monthly Forum organised by the Finance Correspondents Association of Nigeria (FICAN). The event, with the theme: ‘Electronic Payment Industry, Performance & Regulatory Issues’ will hold on Saturday, August 5th,  2017 at the FICAN Centre, Onipanu, Lagos. The Guest Speaker, CBN Director, Banking & …

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