THE Federal Government is seeking from the World Bank and the African Development Bank the sum of $3.5bn (N697bn) in emergency loans to fill a growing gap in its budget in the latest sign of the economic damage being wrought on oil-rich nations by tumbling crude prices. The $2.5bn (N498bn) loan from the World Bank […]
Read More
The total domestic credit from the banking sector to the economy dropped by 0.8 per cent to N21.3trn as of the end of October 2015, statistics obtained from the Central Bank of Nigeria have revealed. The CBN in its economic report for October stated that the drop in credit to the economy was a reflection […]
Read More
IN his bid to ensure the successful take off of the social protection programmes promised by his administration, President Muhammadu Buhari has approved the appointment of Mrs. Maryam Uwais as his Special Adviser for Social Protection Plan. Uwais, a lawyer with over 20 years’ experience, is said to have already started work in the office […]
Read More
By their 2015 nine months earning outlooks, Nigerian Banks have by all indications posted the quite impressive numbers. Not only have banks posted impressive net interest income growth on a year on year basis, they also posted double figure profitability growth. This is against the backdrop of quoted companies in the consumer goods sector, oil […]
Read More
The United Arab Emirate (UAE)-based telecoms operator, Etisalat is looking forward to raising a $2 billion loan as the telecommunications firm seeks funding amid a shift in Gulf loan markets. It joins a flurry of regional companies seeking to secure funding before a likely rise in United States (U.S.) interest rates pushes up borrowing rates, […]
Read More
