Category: Money market

Nigeria’s leading financial inclusion services provider, First Bank of Nigeria Limited, has announced that its Chief Executive Officer, Dr. Adesola Adeduntan, has been honoured with the Forbes Best of Africa Award. The award presentation was held on September 11, 2020 at a virtual event by Forbes in conjunction with the Foreign Investment Network (FIN). The online roundtable discussion themed, “Harnessing the financial resources and social capital of philanthropy to making a lasting impact,” was supported by the World Philanthropy Network and featured a keynote address by a former Nigerian President,…

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Stanbic IBTC Bank PLC, a subsidiary of Stanbic IBTC Holdings PLC, has urged customers with dormant and inactive accounts to reactivate them to enjoy fantastic product offerings and exciting benefits. The financial institution recently launched an account reactivation campaign aimed at giving its customers with dormant accounts the opportunity to enjoy the best financial solutions. Wole Adeniyi, Chief Executive, Stanbic IBTC Bank PLC, stated: “This campaign is another demonstration of our unwavering dedication to serving our esteemed customers better. Their convenience is paramount to us, especially during this period when…

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The naira weakened further on the parallel market, yesterday, dropping to N460/$1 from N455 per dollar that it exchanged for on Friday, traders said. The local currency, which has been under pressure on the parallel market since the beginning of the year, due to foreign exchange scarcity occasioned by the slump in the price of oil rebounded from N477 per dollar to N440/$1 penultimate Tuesday, following an announcement by the apex bank that it would resume the sale of dollars to Bureaux De Change (BDCs) on September 7. The CBN…

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The Central Bank of Nigeria(CBN) has unveiled a framework for the implementation of solar intervention facility, which it said was designed “to complement Federal Government’s effort at providing affordable electricity to rural dwellers through the provision of long term low interest credit facilities to the Nigeria Electrification Project (NEP) pre-qualified home solar value chain players that include manufacturers and assemblers of solar components and off-grid energy retailers in the country.” As part of its Economic Sustainability Plan (ESP), the Federal Government had launched an initiative to achieve the roll out…

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Sola Yomi-Ajayi, the CEO of the United Bank for Africa (UBA)’s operations in the United States, has been appointed to the Export-Import Bank of the United States (US EXIM) Committee on sub-Saharan Africa for 2020/2021. Established by the US Congress, the sub-Saharan Africa Advisory Committee provides guidance and advice regarding US EXIM policies and programmes designed to support the expansion of financing for US manufactured goods and services in sub-Saharan Africa. The committee is composed of prominent members of the US business community and Ms. Yomi-Ajayi is the sole representative…

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