CBN to bar bad debtors from FX market
The Central Bank of Nigeria (CBN) has ordered banks to crack down on borrowers with non-performing loans (NPLs), adding that it would bar debtors from FX market. The move is…
Nigeria gets N886.5m disaster reduction grant from Japan
Asian giant, Japan, has provided Nigeria with $4.5 million (N886.5 million) grant to purchase disaster reduction equipment, a development which the Minister, National Planning Commission, Dr Abubakar Suleiman, said would…
My conversation with Buhari is in Nigeria’s interest, says Pres. Goodluck Jonathan
President Goodluck Jonathan, said on Friday that his meeting with the President-elect, Muhammadu Buhari at the Aso Rock Villa on Friday was to further their conversation on the wellbeing Nigeria.…
Trading on NSE closed bearish
Transactions on the Nigerian Stock Exchange (NSE) on Friday closed for the week on a bearish note with the market indicators dropping by 0.03 per cent due to persistent profit…
FBN holding Q1 pretax profit up 8.7 per cent
First Bank Holding Company posted an 8.7 percent rise in its first quarter pretax profit to 26.94 billion naira ($135.38 million) after booking higher lending income. Interest income increased to…
Nigerian interbank rates fall on matured bonds, T-bills
Nigeria’s overnight lending rates halved to an average 6 percent on Friday from 12.25 percent last week after central bank retired large matured bonds and treasury bills in the week,…
CBN orders banks, discount houses to crack down on delinquent debtors
Following the rising trend of non-performing loans (NPLs) in the banking industry, the Central Bank of Nigeria (CBN) has ordered deposit money banks and discount houses to crack down on…