Tag Archives: NDIC

Dangote targets 2m metric tons of sugar annually The Dangote Sugar Refinery Plc, a member of Dangote Group, on Monday said it plans to produce between 1.5 and 2 million metric tons of refined sugar annually from locally produced sugarcane. The Acting Group Managing Director, Mr. Abdullahi Sule, made the disclosure at the 2016 World Food Day celebrations organised by …

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LCCI Holds Dialogue on Port Efficiency and Maritime Sector Roadmap The Lagos Chamber of Commerce and Industry (LCCI), the premier Chamber of Commerce in collaboration with the Financial Derivatives Company, a renowned economic consultancy firm, is set to hold a Public-Private Dialogue on Port Efficiency & Maritime Sector Roadmap in Nigeria. The objective is to design a roadmap for the …

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Senate Lauds NDIC For Regular Remittance To Consolidated Revenue Fund The Senate Committee on Banking, Insurance and Other Financial Institutions has commended the Nigeria Deposit Insurance Corporation (NDIC) for its prompt and regular remittance of its operating surplus into the Consolidated Revenue Fund (CRF) in line with the provision of the Fiscal Responsibility Act (FRA), 2007. The Committee Chairman, Sen. …

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CBN Approves Special Forex Intervention For Airlines The Central Bank of Nigeria has approved a Special Secondary Market Intervention Retail Sales for airlines operating in the country to enable them to access foreign exchange. NAN report’s that the Deputy Director, Press and Public Affairs, Ministry of Transportation, Mr. James Odaudu, announced the plan in a statement in Abuja on Friday. …

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‘FirstBank now sole Foreign Exchange Dealer to BDCs’ Following the complicity of some banks in handling foreign exchange transaction with Bureau de Change (BDC) in the domestic economy, the Central Bank of Nigeria (CBN) has announced FirstBank the sole authorized dealer for foreign exchange proceeds to licenced Bureau de Change operators. According to First Bank, the announcement is coming on the heels …

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UBA, European Investment Bank Seal €60 million Investment Deal The European Investment Bank and United Bank for Africa (UBA) have agreed a new EUR 60 million lending programme to support private sector investment across Nigeria. This represents the EIB’s largest ever loan to UBA and will allow UBA to provide longer term loans than currently available to private companies in …

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Barring any last minute change in decision, the Nigeria Deposit Insurance Corporation (NDIC) has said that it would soon extend its Deposit Insurance Scheme (DIS) course to other higher institutions of learning. NDIC’s Director of Administration, Mrs Christiana Efabor, said this in Abuja on Monday. Efabor stated that the corporation is working closely with the Nigeria University Commission (NUC) to …

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Heritage Bank CEO lists Nigeria’s export potentials Heritage Bank Limited has identified major commodities that can boost foreign exchange earnings for the country. This becomes necessary as the Federal Government intensifies efforts to boost non-oil export revenues. Managing Director/ Chief Executive Officer, Heritage Bank Limited, Ifie Sekibo said some of the export potential products cocoa, cashew, groundnut, fish, horns, sesame …

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Minister of Finance, Kemi Adeosun Federal Government Holds Stakeholders Consultation On Pilot Issuance Of Green Bond The Federal Ministry of Environment has held a Stakeholders’ Consultation on the pilot issuance of Green bonds in Nigeria as part of moves to explore innovative sources of funding for its climate action plans towards sustainable development. Nigeria like most countries around the world, faces …

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