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Banking and Finance

Tier-1 banks lend MSMES N1.70trn in 12 months

IN ONE year, Nigerian tier one banks have lent a sum total of N1.70 trillion to customers in small businesses across various sectors. This is...

Nigeria is targeting $200 billion from non-oil exports – Emefiele

GOVERNOR of the Central Bank of Nigeria (CBN) Godwin Emefiele has called for collaboration among stakeholders in the non-oil export value-chain, noting that the...

INSIDE STORY: Illegal loan apps ‘victims’ form groups to seek retribution, vow not to repay

By Bankole Abe and Omolola Pedro DEBT collectors for many loan apps in Nigeria exploit unconventional techniques to shame defaulting borrowers to retrieve loans. This has...
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What CBN’s 13 % lending rate means for dollar speculators, political primaries

THE Tuesday, May 24, 2022 decision by the Central Bank of Nigeria’s (CBN) Monetary Policy Committee (MPC) meeting that put the lending rate at...

CBN grants Airtel full super agent licence

THE Central Bank of Nigeria (‘CBN’) has granted Airtel Mobile Commerce Nigeria Ltd, a subsidiary of Airtel Africa, a full super-agent licence. This licence, according...

GTB, UBA, others failed to resolve 171,642 complaints from customers in 2021

FOUR Nigerian commercial banks failed to resolve a total of 171,642 complaints from customers in 2021. The four banks are Zenith, Guaranty Trust Bank (GTB),...
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The untold story of how Akwa Ibom acquired N184bn ‘secret’ loan, targets fresh N150bn loan

By Ekemini Simon AKWA Ibom State Government is in the works to secretly obtain a N150 billion loan, TheMail Newspaper can authoritatively report. The planned multi-billion...

How two major fire outbreaks consumed Federal Mortgage Bank offices in six years

ON April 15, 2015, a major inferno broke out at the Mamman Kontagora House, housing Federal Mortgage Bank on Marina Street, Lagos State. Reports said...

Experts see new pan-African payment platform reducing dollarisation, saving $5bn on transaction costs

MANY African countries carrying out financial transactions now have a better alternative with the recently launched Pan African Payment Systems Platforms (PAPPS), analysts told...
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Why VAT can’t work in states – FIRS

THE Federal Inland Revenue Service (FIRS) has said that...