Business

31% SMEs access loans in 2018

Only 31percent of micro, small and medium enterprises in Nigeria obtained loans from financial institution in 2018.

The Development Bank of Nigeria, DBN, identified the lack of collateral as majorly responsible for the poor access to credit facilities from financial institutions including comme [...]

Sun, 16 June 2019


Afrieximbank supports Africa’s free trade deal

Africa’s Export and Import Bank, Afrieximbank, has thrown its weight behind the free trade agreement entered by some member countries, noting that the arrangement will help address the infrastructure issues on the continent.

The Chairman and President of Afrieximbank, Benedict Oramah, who [...]

Sat, 08 June 2019


Elections drops electronic transactions in Q1

The value of electronic payment transactions fell by 13 percent, in the first quarter of 2019 to hit N34trillion by the end of March.

National Bureau of Statistics, in its Selected Banking Sector Data report for Q1’19, said the 2019 general elections impacted on economic activities during [...]

Sat, 08 June 2019


No verification for former PHCN staff - BPE

The Bureau of Public Enterprises, BPE, has distanced itself from a purported verification exercise being conducted for staff of the defunct Power Holding Company of Nigeria, PHCN.

The bureau said it is not in any way connected with the ongoing verification by a group or with the communication p [...]

Sat, 08 June 2019


Maize, cheese push up world food prices

The increase recorded in the prices of maize and cheese was said to have been responsible for the rise in global food prices experienced in May 2019.

Food and Agriculture Organisation, FAO, reports a 2.1points increase in world food prices making it the fifth consecutive increase this year, aft [...]

Sat, 08 June 2019


Banks’ credit hits N20.93tn in February

Total banks’ credit to the Nigerian economy increased by 1.3percent in three months, to hit N20.93trillion at the end of February 2019 compared with its level at the end of December 2018.

The banks’ total assets and liabilities however increased by 3.2percent during the period, to h [...]

Sat, 08 June 2019


AfDB impacts 181m lives through electricity, water projects

 

 

Over 181million people across Africa have benefited from investment in electricity, agriculture and access to water projects made by the African Development Bank, AfDB,  in the past three and half years.

AfDB’s Director of Communication, Dr. Victor Ol [...]

Sat, 01 June 2019


FG creates 2.5m jobs through anchor borrowers’ scheme

The Anchor Borrowers Programme has supported the creation of over 2.5 million jobs across the agricultural value chain since the scheme was introduced in 2015.

The Central Bank of Nigeria said the programme also supported 1,059,604 smallholder farmers in cultivating 16 different commodities ove [...]

Sat, 01 June 2019


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