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Finance
Afreximbank, UBA Sign $150m Trade Facility Agreement
Afreximbank has signed a $150 million trade finance facility agreement with United Bank for Africa (UBA) PLC, under the Ukraine Crisis Adjustment Trade Financing Programme for Africa.
The agreement was signed on the sidelines of the…
DMBs Borrowing From CBN Drops By 98.4% On Increased FAAC Injection
Borrowings by the Deposit Money Banks (DMBs) from the Central Bank of Nigeria (CBN), known as the Standing Lending Facility (SLF) have declined by 98.4 percent to N57.14 billion in October 2023. It was N3.56 trillion in the preceding month.…
Nigeria Raises Bond Yields In Drive To Halt Naira Rout
Nigeria’s government raised the interest rate on local currency securities in a bid to attract investors to the assets as part of efforts to mop up excess liquidity, contain inflation, and curb a slump in the naira.
The debt management…
Credit Card Debt Hits A New Record While Delinquencies Also Rise
Americans are increasingly turning to their credit cards to cover everyday expenses, with debt hitting a new record high at the end of September, according to a New York Federal Reserve report published Tuesday.
In the three-month period…
Q3 2023: Zenith Bank Leads UBA, GTCO, Two Others In N2.01trn PBT
The banking industry is reaping from the unification of foreign exchange as Zenith Bank Plc, together with four others have generated N2.01 trillion profit before tax in the third quarter (Q3) ended September 30, 2023, an increase of 163…
Why Naira Is Regaining Strength In FX Market – Gwadabe
The President of the Association of Bureau De Change Operators of Nigeria (ABCON), Alhaji Aminu Gwadabe has said that the Naira is regaining strength against the dollar in the forex Market owing to the dollar injection and the mop-up of the…
Banks To Discontinue Old Cheque Use December 31
In a bid to meet digital advancement and in compliance with the Central Bank of Nigeria (CBN) directive, Nigerian banks have begun to notify the general public of the discontinuation of the use of its old standard cheque on December 31,…
CBN Refutes Cash Scarcity Reports, Assures Currency Sufficiency
The Central Bank of Nigeria has refuted claims of cash scarcity at banks, automated teller machines, Points of Sale, and Bureaux de Change in various major cities nationwide.
In an official statement signed by its Director of Corporate…
ZENITH Bank Ends Q3 With N1.33trn EarningsÂ
Zenith Bank Plc has ended the third quarter of 2023 with N1.33 trillion earnings, a remarkable triple-digit growth of 114 percent from N620.6 billion reported in Q3 2022.
This performance demonstrates the Group’s resilience and strong…
Access Holdings Declares N294.42bn PBT In Nine-Months
Access Holdings Plc on Wednesday reported N294.42 billion profit before tax in the nine months ended September 30, 2023, unaudited results and accounts, an increase of 100.21 percent from N147.06 billion reported in the nine months of 2022.…