Report: Urgent Call for Federal Mortgage Bank of Nigeria Recapitalization Operators within the construction sector have emphasized the critical need for the recapitalization of the Federal Mortgage Bank of Nigeria (FMBN). Toye Eniola, the Executive Secretary of the Association of Housing Corporations of Nigeria, highlighted in an exclusive interview with The Entrepreneur TV, the inevitability…
The electronic banking revenue of ten listed banks experienced a significant upswing of 38.9 percent last year, largely attributed to the Central Bank of Nigeria (CBN)’s cashless initiative. An analysis conducted by BusinessDay based on the latest financial statements of these banks revealed a total revenue surge from N309 billion in 2022 to N427 billion…
In this interview, Segun Ajayi-Kadir, the Director-General of the Manufacturers Association of Nigeria (MAN), discusses the repercussions of unresolved dollar debts on manufacturing firms with Edidiong Ikpoto. Contrary to the Central Bank of Nigeria’s (CBN) assertion of clearing all valid outstanding forex backlog, MAN reported that many of its members still await unsettled dollar requests….
Tinubu’s Economic Optimism Masks CBN’s Tough Tactics Nigeria’s President, Bola Tinubu, exudes confidence in the nation’s economic trajectory, urging citizens to anticipate better days ahead. However, behind this optimism lies a complex interplay between fiscal decisions and the Central Bank of Nigeria’s (CBN) stringent monetary policies. Tinubu’s assertions of economic improvement during his Easter message…
Petroleum Minister Attributes Q1’s Low Crude Oil Production to Trans-Niger Pipeline Issues The Minister of State for Petroleum Resources, Sen. Heineken Lokpobiri, has identified problems with the Trans-Niger pipeline and maintenance activities by certain oil companies as the primary reasons for the low crude oil production in the first quarter of the year. Assuring that…
Nigeria Secures Remaining $1.05 Billion from Afrexim Bank’s Oil-Backed Loan Nigeria is set to receive the remaining $1.05 billion from a $3.3 billion loan facility provided by the African Export-Import Bank (Afrexim Bank), backed by oil revenues. The disbursement of the balance is expected by the end of May, aimed at revitalizing the economy and…
