Business News

First Bank of Nigeria Limited, Nigeria’s premier and leading financial inclusion services provider, today announced the appointment of Mrs. Oluwande Muoyo as a Non-Executive Director. Mrs. Muoyo joined the board of FirstBank from FBN…

The Monetary Policy Committee of the Central Bank of Nigeria (CBN) has announced that the monetary policy rate (MPR), which determines interest rates, would be reduced by 100 basis points from 12.5 percent to 11.5 per cent. Governor of…

The Federal Government has apologised for its tweets on the self-certification procedure. It was announced, on Thursday, that individuals who hold accounts in different financial institutions would have to collect and submit separate…

The Federal Government has ordered all bank account holders in the country’s financial institutions to register their details again. The order was given despite the possession of the Bank Verification Number (BVN) and the National…

The Central Bank of Nigeria (CBN) has ordered banks to provide the domiciliary account statements of some high profile customers and other accounts linked to the customers through the Bank Verification Number (BVN). It disclosed this in…

FBN Insurance Brokers Limited, a subsidiary of Nigeria’s leading financial services group, FBN Holdings Plc, has announced a webinar to sensitise SMEs on risk management and cyber security. Spearheading discussions at the webinar are…

The Federal Government said the country stands to rake in over ₦1 trillion annually from subsidy removal on petroleum products. This, it said, would be deployed to fund other critical components of the economy. Minister of State,…

...Warns of rising inflation Emeka Okoroanyanwu The Manufacturers Association of Nigeria (MAN) has warned that Federal Government directive banning foreign exchange allocation for food and fertilizer imports could cause further…

Emeka Okoroanyanwu The Nigerian Electricity Regulatory Commission (NERC) has said the power distribution companies will be liable to capacity charge for failure to take their entire load allocation caused by constraints in their…

Emeka Okoroanyanwu Fidelity Bank Plc plans to issue a N100 billion, about $261-million bond in local currency to boost its capital ratios and funding capacity. The bank wants to issue the debt in a series, beginning with a 50…