The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has increased the benchmark lending rate to 26.75 per cent. The hike in the Monetary Policy Rate was disclosed by the CBN Governor, Dr. Olayemi Cardoso, at the end of the 296th MPC meeting in Abuja on Tuesday. The MPC had maintained a hawkish stance to tame inflation …

The Naira yesterday depreciated to N1,585 per dollar in the parallel market from N1,575 last week Friday. Similarly, the Naira appreciated to N1,500.32 per dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM). Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,500.32 per dollar from N1,596.92 per dollar last weekend, indicating N96.6 appreciation for the …

Fidelity Bank Plc has recorded an average annual profit growth of 64 per cent over the past three years, underlining its resilience as one of Nigeria’s fastest-growing companies. The bank has also seen rapid expansion in customer base and assets as its total balance sheet size leapt from N2.1 trillion to N6.2 trillion, the sixth largest in the Nigerian banking …

The Governor of Central Bank of Nigeria (CBN) Olayemi Cardoso has assured Nigerians of better days ahead, just as he declared that the planned stability will make Nigeria hit $1trillion economy latest by 2030. Cardoso outlined the CBN’s mandate and provided an in-depth analysis of Nigeria’s economic performance, recent policy measures, and the outlook for the remainder of the year …

THE Governor of Central Bank of Nigeria, CBN, Olayemi Cardoso has assured Nigerians of better days ahead. The apex bank on Friday rolled out indices that it said would signal improved growth and stability of the Nation’s economy. Speaking yesterday on Abuja during a statutory engagement with the Senator Adetokunbo Abiru, APC, Lagos East led Senate Committee on Banking , …

The Naira on Wednesday depreciated to N1,570 per United States dollar in the parallel market. from N1,550 per dollar on Tuesday. Similarly, the Nigerian currency depreciated to N1,581.65 per dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM). Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,581.65 per dollar from N1,576.66 per dollar on Tuesday, …

Against the background of groundswell of support and enthusiasm for the bank’s ongoing offers, Fidelity Bank Plc has started preparations to allow the bank to absorb oversubscriptions. With investors rallying behind the bank’s N127.1 billion combined rights and public offer, market pundits had indicated that the bank would raise more than the initial size of the combined offer. Reports have …

The Naira yesterday depreciated to N1,555 per dollar in the parallel market from N1,545 per dollar last week Friday. Similarly, the Naira depreciated to N1,577.29 per dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM). Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,577.29 per dollar from N1,563.8 per dollar last week Friday, indicating N13.49 …

Nigerians are underserved and being punished by the inadequacies, inefficiencies and lack of governance in the banking industry, most of which can be blamed on the Central Bank of Nigeria (CBN), which is failing in its statutory responsibility to regulate and supervise the banks, according to panelists and contributors at the online citizen-organised People’s Parliament. Attendees at the event, titled, …

The Naira yesterday appreciated to N1,550 per dollar in the parallel market from N1,560 per dollar on Wednesday. Similarly, the Naira appreciated N1,554.55 per dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM). Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,554.55 per dollar from N1,561.98 per dollar on Wednesday, indicating N7.43 appreciation for the …