Central Bank of Nigeria (CBN) has set the minimum capital requirement of N6 billion for the operation of Mortgage Guarantee Companies (MGC) in the country. In an exposure draft posted on its website, it pointed out that the licensing of MGC would deepen the mortgage banking sub-sector, through increased market access to mortgage finance and…
United States Africa Development Foundation has invested over N8.64 billion ($24 million) to boost capacity of farmers across the country. Speaking at an Agriculture mini-fair, organised by the foundation in collaboration with Diamond Development Initiative, stakeholders in the sector, including the U.S. Ambassador to Nigeria, Stuart Syminton, Executive Director, Diamond Development Initiative, Adamu Garba, President,…
The Development Bank of Nigeria says it has become a member of the SME Finance Forum, a global membership network that brings together financial institutions, technology companies, and development finance institutions to share knowledge, spur innovation, and promote the growth of the Small and Medium Enterprises. Established by the G20 Global Partnership for Financial Inclusion…
The Central Bank of Nigeria has increased the capital requirements for microfinance banks in the country in a bid to tackle the challenge of inadequate capital base in the sub-sector. The CBN announced the upward review of the minimum capital requirement in a circular dated October 22, 2018 to all microfinance banks in the country.…
Equities Market The Nigerian equities Bourse close the day on a high as both NSE ASI and market capitalization increased by 0.69% respectively, as they both closed at 33,191.45points and N12, 117.44tr respectively. Year-to-Date ASI is at a negative of 13.26%. Volume and Value of trades both decreased by 28.20% and 52.52% to N185.193M and…
Equities Market The Nigerian equities market recovered from its previous day lost position as both NSE ASI and market capitalization increased by 0.70% respectively, as they both closed at 32,664.63points and N11,925.11tr respectively. Year-to-Date ASI is at a negative of 14.64%. Volume of trades and No of trades both decreased by 22.89% and 13.75% to…
The Organisation of Petroleum Exporting Countries has urged its member nations, not to mention oil prices when discussing policy in a break from the past, as the oil-producing group seeks to avoid the risk of US legal action for manipulating the market, sources close to OPEC said. Proposed US legislation, known as “NOPEC” which could…
The National Bureau of Statistics on Tuesday released the Consumer Price Index, which measures inflation, with the rate rising from 11.23 per cent in August to 11.28 per cent in September 2018. This is the second consecutive rise in headline inflation after 18 consecutive months of decline in the rate. “The Consumer Price Index, which…
Equities Market The Nigerian equities market recorded an increase on all its indicator as both NSE ASI and market capitalization increased by 0.95% respectively, as they both closed at 32,722.18points and N11,946.21tr respectively. Year-to-Date ASI is at a negative of 14.28%. Volume, Value of trades and No of trades all increased by 624.26%, 452.77% and…
Equities Market The Nigerian equities market closed in the Green at the end of the day’s trading activity, as both NSE ASI and market capitalization decreased by 0.11% respectively, as they both closed at 32,417.82points and N11,835.01tr respectively. Year-to-Date ASI is at a negative of 15.28%. Volume, Value of trades and No of trades all…
