Day: May 26, 2025

CBN commences auction of non-interest asset-backed securities

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The Central Bank of Nigeria (CBN), on Monday, announced that it had commenced the auction of “CBN Non-Interest Asset-Backed Securities (CNI-ABS) and “CBN Non-Interest Note (CNIN).” In a circular to all Non-Interest Banks, conventional banks with Non-Interest banking window and Authorised Dealers, posted on its website, the apex bank also announced the deployment of the Nigerian Non-Interest Financial institutions’ Master Repurchase Agreement. According to the circular, “the introduction of the CNI-ABS aims to provide the non-interest banks with a non-interest financial instrument which supports the bank’s liquidity management objectives.” On the CNIN, the circular said…

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Dangote to deepen FG’s diversification agenda with coal export soon

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The  Nigerian Ports Authority (NPA) and Dangote Industries Limited (DIL) are targeting between  $6.5 million and $7 million as  daily revenue from exports. The  President of DIL, Aliko Dangote, explained during a visit to NPA’s head office  in Lagos on Monday that the company would  start exporting coal out of Nigeria in the next couple of weeks, adding that its fertiliser export would  be almost like eight cargoes.  Dangote said that the refinery operations would not export less than 25 million tonnes of various products. According to him,  the company will also be exporting almost…

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UBA launches *919# advance top-up feature to provide instant access to customers

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Africa’s Global Bank, United Bank for Africa (UBA) Plc, has launched a new feature called Advance Top-Up on its USSD banking platform *919#, which is designed to provide instant access to airtime and data for its customers especially when they are out of call credit or disconnected from the internet. The new feature which was unveiled at the UBA head office in Marina on Thursday, allows customers to borrow airtime or data directly from their mobile devices, offering a fast, dependable solution. UBA’s Group Head, Retail and Digital Banking, Shamsideen…

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