Nasarawa, Edo and Ogun states received the highest amount of loans for agriculture among the 36 states in the country and the Federal Capital Territory under the Agricultural Credit Guarantee Scheme of the Federal Government. Latest figures from the Central Bank of Nigeria also showed that the three states made the highest amount of loan […]

The depreciation of the naira between 2004 when the last banking sector recapitalisation took place and now has cut the value of the capital of each Deposit Money Bank by about $175m. The recapitalisation of the banking sector, which was done in 2005, required the banks to raise their capital base from N2bn to N25bn. […]

The nation’s power generation dropped to 3,390.7 megawatts on Monday as seven plants, including three built under the National Integrated Power Project, sat idle. Electricity generation has been hovering around 2,600MW and 3,800MW as of 6.00 am every day since the start of this month, according to data obtained by our correspondent. It plunged to […]

The Director General of the Debt Management Office, Mrs Patience Oniha has given what may better be described as a word of commendation to non interest banking, saying its benefits are wide and varied. Oniha spoke on the sidelines of the Islamic Finance News (IFN) Forum in Lagos on Tuesday. Fielding questions from journalists, on […]

Nigeria’s business mogul and richest man in Africa, Alhaji Aliko Dangote has expressed outrage over the loss of over N36billion revenue annually due to the activities of sugar smugglers. The President of Dangote Group, who disclosed this during Dangote Sugar Refining Plc, Annual General Meeting (AGM) held in Lagos, noted that over 300,000 metric tons […]

A group of stakeholders in the capital market, Consolidated Capital Market Stakeholders Forum (CCMSF), has stated that the Securities and Exchange Commission, SEC, followed due process in the suspension of the Directors of Oando Plc. The Group in a statement signed by Umar Usman, urged the Oando directors to provide credible evidence refuting the findings […]

The Nigeria Incentive-Based Risk-Sharing System for Agricultural Lending (NIRSAL) has initiated actions to raise over N140 billion to finance agriculture over the next three years. US$200 million (N75 billion) will be raised by NIRSAL in partnership with the World Bank’s Agro-Processing, Productivity Enhancement and Livelihood Improvement Support (APPEALS) project for the development, financing, and support […]

The African Oil and Energy Pool has an underwriting capacity of $90 million as at December 31, 2017, African Insurance Organisation Secretary-General, Ms. Prisca Soares, has said. She made this known during the organisation’s conference in South Africa. She called for patronage of the pool’s business, noting that this is required from across the continent. […]

The Board of Directors of Cadbury Nigeria Plc at the weekendassured shareholders that it would continue to work to create more value for investors. At the Annual General Meeting (AGM) in Lagos, the board reiterated its commitment to sustaining the company’s dividend policy as shareholders approved the distribution of N471 million as cash dividend for […]

Italian prosecutors have complained to Switzerland about lengthy delays in obtaining evidence they have requested in an international corruption case involving oil firms Shell and Eni, a source familiar with the matter said. Milan prosecutors wrote in April to the Geneva prosecutors’ office in a previously undisclosed letter, describing their three-year wait for documents to […]