The World Bank’s private sector arm said it would assist Africa to expand financial inclusion through leveraging on technology. Lesley Denyes, the Programme Manager of the Financial Institutions Group Africa at the International Finance Corporation (IFC), said during the Second Annual Learning Event for the AgriFin Accelerate Program (AFA). The event was hosted by Mercy Corps, in partnership with the Mastercard Foundation.
The Administrative panel of Inquiry constituted in November to investigate the corruption allegations against Mr. Mounir Gwarzo, the suspended Director-General of Security and Exchange Commission (SEC) has recommended his dismissal. The panel which was set up by the Minister of Finance, Mrs. Kemi Adeosun is headed by the Permanent Secretary of the Ministry, Mahmoud Isa-Dutse.
The Federal Government has approved the construction of an irrigation dam at Ijegwu community in Yala Local Government Area of Cross Rivers State to facilitate dry season farming in the area. The Managing Director of Cross River Development Authority, Mr. Bassey Mkposong who stated this on Sunday in Calabar
The Senate on Tuesday urged Central Bank of Nigeria (CBN) and other stakeholders to make proper investigations into bitcoin trading. They also asked for deliberate efforts to educate the public on the dangers of Bit-coin as a store of value in Nigeria. It said that all news platforms and in various languages should be deployed in the dissemination.
The Central Bank of Nigeria (CBN) says it will offer about N252 billion in treasury bills next week. The offer comprises of N6.10 billion, N69.57 billion, and N177.22 billion of the 91-day, 182-day, and 364-day bills respectively. Meanwhile, proceedings were broadly bearish in the treasury bills market this week, as average yield rose by 11 bps to 14.16%, amidst relatively tight liquidity earlier in the week. Yields expanded across all ends of the curve – short, mid, and long.
United States has reaffirmed its commitment to support Nigeria to ensure avenues are open to economic growth and development for stronger business networks. Mr John Bray, U.S. Consul-General said this when he visited the Nigerian Stock Exchange (NSE) in Lagos. Bray said that the U.S. government and private sector would support Nigeria’s growth and development as it continues to discover new investment avenues.
The Economic and Financial Crime Commission (EFCC) says contrary to widespread reports, the arrest of the former Secretary to the Government of Federation (SGF), Babbachir Lawal has nothing to with the recent statement issued by former President Olusegun Obasanjo. The Acting Spokesman of the Commission, Samin Amaddin stated this on Friday in a statement released to newsmen in Abuja. He explained that contrary to insinuations, his arrest was coincidental.
Nigeria’s stocks have been rated among the world’s best-performers in the past four months. Bloomberg reported on Monday that the good performance was as a result of foreign investors. The New York-based financial software, data, and media company, said net foreign inflows to Nigerian equities totalled 337 billion naira ($940 million) last year, the first time flows have been positive since at least 2013.
Members of Miyetti Allah Cattle Breeders Association of Nigeria (MACBAN) have said there is no need for the Federal Government to set up cattle colonies in the South-East geopolitical zone. The Anambra State Chairman of the group, Alhaji Sadiq Gidado stated this on Friday at a news conference in Awka, the state capital. He maintained that the planned establishment of cattle colonies was unnecessary in the region because of the cordial relationship that exit between herdsmen and locals.
Nigerian equities reopened yesterday on a bullish note as investors responded positively to impending release of corporate earnings and dividend recommendations by major quoted companies. The board of directors of United Bank for Africa (UBA) Plc met yesterday and approved the audited reports and dividend payment for the year ended December 31, 2017.
The Nigeria Labour Congress (NLC) on Thursday called on the Tripartite Committee on the National Minimum Wage to fast-track the process in good time. The President of the NLC Ayuba Wabba, made the call at the 11 Quadrennial National Delegate Conference of the Nigeria Civil Service Union (NCSU) in Abuja. He said Nigerian workers must be made to have minimum wage commensurate to their counterparts in other countries.