Nigeria loses $9bn annually on poor agric investment – Minister

[FILE PHOTO] Heineken Lokpobiri

The Federal Government on Sunday said it was losing 9 billion dollars (N3.2 trillion) annually due to poor investment in

NIA to eliminate fake insurance certificates with USSD code

THE Nigerian Insurers Association, NIA, has launched an Unstructured Supplementary Service Data, USSD, code to check proliferation of fake insurance certificates in the country. The USSD code, *565*11#, according to the NIA will assist to eliminate fake insurance certificates in the market.

2019 agric outlook as Federal Government prepares for cattle ranching

Head of Agro-Economy Desk, FEMI IBIROGBA, reviews the past agricultural policies, actions and inaction, while aggregating the forecasts in the sector for 2019.

Inlaks’ new ATM models to redefine payment systems

African financial technology start-up, Inlaks,  in conjunction with its partner, Hyosung TNS of South Korea, has introduced two new innovative ATM models – MX 5600ST, MX 8600T and MS500 at the Committee of e-Business Industry Heads, CeBIH, annual retreat, recently held in Ogun State.

Nigeria accounts for 40% of our businesses in Africa – CEO, Continental Re

Femi Oyetunji

THE insurance companies in Nigeria and Africa have not been performing well enough when compared to their counterparts in the global space, what is the reason?

Curse of oil: Time to return to agriculture

THE good old days are certainly gone when groundnut grown in Northern Nigeria was a major contributor to the national economy. The famous groundnut pyramids were the admiration of everyone from far and near; a pride of the nation. Indeed within the West African sub-region, Nigeria dominated in groundnut production, with 41% of the produce coming from the Northern part of the country.

MTN to apply for mobile money licence in Nigeria

… Resolving issues around $10b fine

Rob Shuter

The Chief Executive Officer of MTN, Rob Shuter, has said that despite the challenges the telecommunications firm is facing in Nigeria, it will, next month, apply for a mobile-money licence.

CBN, institute move to ascertain remittances from Nigerians abroad

Central Bank of Nigeria’s (CBN) governor Godwin Emefiele

Owing to discrepancies in official figures, the Central Bank of Nigeria (CBN) and the African Institute for Remittances (AIR) have kicked off a training leading to a household survey for ascertainment of remittances from Nigerians abroad. The study holds in the first quarter of next year.

Nigeria To Begin Exports Of Zobo Leaves To Mexico

 

File Photo

The Coordinating Director of the Nigeria Agricultural Quarantine Service (NAQS), Dr Vincent Isegbe, has disclosed plans by the Federal Government to resume the export of hibiscus (zobo leaves) to Mexico.

Dangote sinotruk automobile expands to enhance local content, provides more jobs

Group General Manager, Dangote Sinotruk West Africa Limited, Hikmat Thappa (left); Lagos State Director of Commerce, Akeem Adeniji; Lagos State Commissioner for Commerce, Industry and Cooperatives, Olayinka Oladunjoye; Dangote Sinotruk General Manager, Prakash Kharat, during a facility tour of Dangote Sinotruk Assembly plant by Lagos State Commissioner for Commerce in Ikeja, Lagos.

H1’18: Banks’ losses to fraudsters rise by 1,446% to N12bn

CENTRAL Bank of Nigeria (CBN) has reported a staggering 1,446 percent rise in banks’ losses to fraudsters amounting to N12 billion within the first six months of 2018.

CBN uses N848bn to mop up excess cash in banks

The Central Bank of Nigeria head office in Abuja.

THE moderation in cost of funds in the interbank money market is expected to persist this week in response to N376 billion inflow from maturing treasury bills (TBs).  Last week, the Central Bank of Nigeria (CBN) mopped up N517.61 billion via secondary market (Open Market Operations, OMO) TBs auction.

Access Bank Partners Transfast for instant money transfer to Nigeria

TRANSFAST, a leading provider of cross-border payments and remittance solutions, has partnered with Access Bank to facilitate inflow of remittance to bank accounts & delivery in the form of cash pay-outs from any of Access Bank’s outlets in Nigeria.

Firm targets improved competitiveness, capacity with CSR initiative

Skoolmedia Limited has donated laptops and security gadgets to the Federal Science and Technology School (FSTC), Yaba

PZ Cussons reaffirms commitment to value addition

                                                           PZ Cussons

PZ Cussons has reiterated its commitment to the creation of added value even as it re-launched one of its brands, ‘Morning Fresh’, with new transparent bottle.

Ukraine issues 3,670 visas to Nigerian travellers in two years

The Ukraine ambassador to Nigeria, Valerii Alesandruk, says the Embassy has issued 3,670 visas to Nigerian travelers in the last two years.

PoS transactions rise by 57% to N1.6tr in Q3’18

Nigerians open 4.4m bank accounts
Inactive bank accounts rise by 1.7m

VALUE of Point of Sale (PoS) transactions grew by 57 percent  quarter-on-quarter, QoQ, to N1.6 trillion in the third quarter of 2018, Q3’18, from N1.02 trillion in Q2’18, while    Nigerians opened 4.4 million bank accounts during same period. The new bank accounts opened during the quarter comprise 3.4 million savings accounts and 800,000 current accounts.

However, the number of inactive bank accounts rose by 1.7 million during the period.

ABCON seeks CBN collaboration to enhance transparency in forex market

By Babajide Komolafe

ASSOCIATION of Bureaux De Change Operators of Nigeria (ABCON) has called for the support of the Central Bank of Nigeria (CBN) to enhance the operations of its live exchange rate website in order to improve transparency and stability in the nation’s foreign exchange market.

‘Our mission is to inspire, empower women to attain leadership positions in business, management and public service’

OLUBUNMI ABODERIN-TALABI (PUBLISHER, CLEVER CLOGS BOOKS and CHAIRPERSON, EXECUTIVE COUNCIL, WIMBIZ)

Punish Those Who Ruined Skye Bank

 

Minister of Finance, Zainab Ahmed, was on target recently when she ordered regulators to identify and sanction individuals that ran Skye Bank Plc aground.