Author: irving

Financial Services Company, Investment Banking and Consumer Lending - Articles by: irving
CBN Announces Increase in ACGSF Share Capital to N50b

CBN Announces Increase in ACGSF Share Capital to N50b

The Central Bank of Nigeria (CBN), has just announced that the Agricultural Credit Guarantee Scheme Fund (ACGSF) Amendment Act approved by President Muhammadu Buhari on June 24, 2019, has increased the share capital of the fund to N50 billion from N3 billion. In a document…
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CBN Reviews Minimum Interest Rates on Savings Deposit to 1.25%

CBN Reviews Minimum Interest Rates on Savings Deposit to 1.25%

Monetary Policy Rate Reduction With inflation rate at 12.8%, it is almost like saying banks are being paid to keep customers money. The Central Bank of Nigeria (CBN) has instructed commercial banks in Nigeria not to pay less than 1.25% in interest on savings deposit…
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CBN, 3 banks receive N12bn from investment in AFC

Central Bank of Nigeria, CBN, and three other banks in the country received $41.736 million dividends (N12.938bn) in 2017 from their investments in regional multinational financial institution, the Africa Finance Corporation, AFC. CBN Governor, Mr Godwin Emefiele The other banks, according to data obtained from…
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CBN Urges Financial Operators to Diversify Products

The Central Bank of Nigeria (CBN), has urged insurance operators in the country to ensure diverse insurance products to enable more citizens to key into insurance. Mrs Temitope Akin-Fadeyi, the Head, Financial Inclusion Secretariat, CBN, gave the advice at the ongoing National Insurance Conference on…
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Nigeria-China currency swap, CBN’s last ditch effort to salvage naira

Although Nigeria has committed to the execution of the naira-yuan swap deal to salvage the naira, that has not foreclosed other alternatives from being dangled before it, even from no less a personality than the French President, Emmanuel Macron. During his last week working visit to…
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NEPC targets $30bn forex with zero-oil scheme

The Nigerian Export Promotion Council has said that Nigeria is targeting $30bn in foreign exchange earnings with the zero-oil scheme. The Chief Executive Officer, NEPC, Mr. Olusegun Awolowo, stated this in Lagos during the second National Committee on Export Promotion meeting. Awolowo noted that the…
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