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Foreign capital inflows still driving reserves accretion

The increases in the foreign reserves continued last week based on sustained foreign capital inflows into the fixed income market. Available records show that these inflows are on the back of the attractive yields in the fixed income market which have become more attractive as political risks have abated following the conclusion of the 2019 […]
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CBN applauds Ecobank’s sustainability efforts

The Central Bank of Nigeria (CBN) has recognised Ecobank Nigeria’s laudable sustainability and Corporate Social Responsibility (CSR) initiatives. The CBN at its 2018 annual awards for sustainability in Lagos, recognised Ecobank’s activities in four categories which include Sustainability Bank of the Year; Sustainability Bank of the Year -oil and gas; Sustainability Bank of the Year […]
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First Bank embarks on 125km walk to greatness

Nigeria’s premier financial institution,  First Bank of Nigeria Limited and other corporate entities in the FBNHoldings group on Saturday, 16 March 2019 collectively held a 125km Relay Walk to celebrate the Bank’s 125 years of unbroken business operations in commemoration of its 125 years anniversary. Following the flag hoisting ceremony, the anniversary activities curtain raiser […]
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Rates to moderate on expected N169.4bn liquidity boost

Money market rates are expected to trade slightly lower following system liquidity boost.Dealers said this will be as a result of the impact of maturities worth N169.4billion expected on the 21st of March. Consequently, some dealers said they expect the Central Bank of Nigeria (CBN) to hold Open Market Operation (OMO) auction, in line with […]
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CBN’s unconventional monetary easing approach to continue —Analysts

Ahead of the second meeting of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN), a herd of finance and economic analysts have concluded that the slight lowering in February inflation numbers will make the apex banking sector regulator to continue with monetary policies that are different from what is usual or […]
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Interbank rates to trade low N215.86 maturing T-Bills, FAAC inflows

Interbank rates are expected to be dragged Sought following the Federation Account Allocation Committees (FAAC) inflows being anticipated, coupled with maturing bills worth N215.86 billion. According to dealers from Cowry Assets Management Limited,in the new week, the Central Bank of Nigeria (CBN) will auction T-bills worth N89.50 billion, viz: 91-day bills worth N5 billion, 182-day […]
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Weaken Nigeria’s currency to reduce importation —Chike-Obi

Nigeria’s industrial base is low and the only option open to the country is not protectionism but to have a weak currency. The Executive Vice Chairman, Alpha African Advisory, Mr Mustafa Chike-Obi. In this interview with CHIMA NWOKOJI, he looks at import substitution, currency management and leadership issues taxing the Nigerian economy.    There has […]
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Sterling Bank partners Leah Foundation on cancer awareness

Sterling Bank Plc, has partnered the Leah Foundation to create awareness on breast and cervical cancers through a movie titled ‘Diamonds in the Sky.’ Commending Sterling Bank for sponsoring Diamonds in the Sky, Mrs Omolewa Ahmed, First Lady of Kwara State and Founder, Leah Foundation said, “We appreciate Sterling Bank for investing in continued breast […]
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KPMG welcomes directive to unfreeze tax defaulters’ accounts for 30 days

Tax advisory services company KPMG Nigeria has commended the Federal Inland Revenue Service (FIRS) for directing banks to suspend its lien on bank accounts of alleged tax defaulters for a period of 30 days with immediate effect. The directive  through its letter dated February 15, 2019 became necessary to allow the affected large number of […]
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Automation: BDCs rebrand for efficiency, regulatory compliance

The digitisation of Bureaux de Change (BDC) operations teed off last week with the official launching of the Association of Bureaux De Change Operators of Nigeria (ABCON) Live Run Automation Portal in Lagos. The project, which has the backing of the Central Bank of Nigeria (CBN), ended years of the manual filing of regulatory reports by BDCs, enhances the global competitiveness of operators and raises hope of higher transaction margin. SULAIMON OLANREWAJU reports.
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