MFBs Join Reps’ Call To CBN To Halt Recapitalisation       The National Association of Microfinance Banks (NAMB) has joined the House of Representatives’ recent call on the Central Bank of Nigeria (CBN) to suspend the April 2021 deadline for the recapitalisation of microfinance banks (MFBs). It came...

Banks Borrowing From CBN Increase By 174% To N2.4trn     In apparent reflection of the intense scarcity of funds that prevailed in the interbank money market in April, banks’ borrowing from the Central Bank of Nigeria (CBN) rose by 174 per cent to N2.48 trillion from...

CBN N120bn Fund: Consumers Want Meters, Improved Power Supply       Power consumers and power sector experts have tasked the 11 power Distribution Companies (DisCos) on accelerating meter installations for the over eight million customers while improving power supply by enhancing their networks. This is coming on the...

Cocoa Exporters Lament Price Slump       Exporters of cocoa are in a dilemma following continuing price slump in the international market. Cocoa, a key ingredient in chocolate, a luxury food product, has also seen a decline in demand. It is among Nigeria’s leading agricultural exports and constitutes...

Reps Increase Customs’ Revenue Target To N1.6trn         The House of Representatives yesterday increased the revenue target of the Nigeria Customs Service (NCS) from N1.4 trillion to N1.6 trillion as expected revenue for the 2021 fiscal year. The House also approved about N257, 183, 671, 694. 71...

CBN Sacks FBN Board over removal of MD/CEO The governor of the Central Bank of Nigeria, Godwin Emefiele, has sacked the entire members of the board of First Bank Holding and First Bank Nigeria Ltd. Emefiele, in his speech broadcasted on national television cited insider abuse,...