Bank lending should rise significantly in the second quarter of the financial year once the April 2011 elections, which have prompted a slowdown, are over, according to Bisi Onasanya, group managing director and chief executive officer of First Bank Nigeria. Mr Onasanya told Oxford Business Group (OBG), a consultancy firm, that financial risk exercises undertaken last year by the Central…
Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin-top:0in; mso-para-margin-right:0in; mso-para-margin-bottom:10.0pt; mso-para-margin-left:0in; line-height:115%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-fareast-font-family:"Times New Roman"; mso-fareast-theme-font:minor-fareast; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin;} You've probably heard of the world's most popular classified site, Craigslist and UK's Gumtree. Both sites offer buyers…
Operators at the Nigerian Stock Exchange (NSE) are optimistic that some of the successes recorded at the just concluded elections in the country should restore investors’ confidence and further boost market performance. Finance analysts at Vetiva Capital Management Limited, a financial service company, said the market is expected to perform better in the coming months, barring any negative surprises on…
Michael Itegboje, the president of the Chartered Institute of Stockbrokers (CIS), says stockbrokers should not be singled out for the stock market crisis that was also due largely to regulatory lapses. How would you assess the capital market in the first quarter of the year? Nothing much has changed except that the market is a bit more stable now, unlike…
Food price hikes are hitting Africa’s urban populations harder now than in 2008 and pose a serious challenge to some of the continent’s leaders, who face elections this year, a World Bank official said. Policy makers across the globe are fighting rising food prices, currently 36 per cent higher than levels this time last year and near peaks from 2008,…
Are you on the other side of 45 and have little or no retirement savings? Have you ignored this most important stage of your life and suddenly find that retirement is looming? Very few of us save enough for retirement and most people will fall short. Research has suggested that retirees will require about 60 to 70 per cent of…
Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin-top:0in; mso-para-margin-right:0in; mso-para-margin-bottom:10.0pt; mso-para-margin-left:0in; line-height:115%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-fareast-font-family:"Times New Roman"; mso-fareast-theme-font:minor-fareast; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin;} One of the several strategies adopted by companies to entrench their brands in the minds of consumers is…
Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin-top:0in; mso-para-margin-right:0in; mso-para-margin-bottom:10.0pt; mso-para-margin-left:0in; line-height:115%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-fareast-font-family:"Times New Roman"; mso-fareast-theme-font:minor-fareast; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin;} Customers of First Bank and GTB yesterday had hard times transacting business at the banks as their networks…
Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin-top:0in; mso-para-margin-right:0in; mso-para-margin-bottom:10.0pt; mso-para-margin-left:0in; line-height:115%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-fareast-font-family:"Times New Roman"; mso-fareast-theme-font:minor-fareast; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin;} To discourage the use of raw cash in economic transactions in the country, the Central Bank of Nigeria…
While much is yet to be heard of the proposed minimum capital base of N1 billion for stockbroking firms, some market operators said they believe that the Securities and Exchange Commission (SEC) has ‘soft pedalled' on the issue. The Nigerian Stock Exchange had earlier this year said that all stockbroking firms must meet the initial minimum capital base of N70…
The most haunting words I have read on Facebook are the words penned by one of the martyred youth corps members, Ukeoma Aikfavour, who had served in the restive north of Nigeria. Thinking that the worst was over and perhaps a few hours to the mindless termination of his life, he had written these words: "Na wao! This CPC supporters…
The feud between the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) over the two factions of the Association of Senior Staff of Banks, Insurance and other Financial Institutions (ASSBIFI) is still pending at the National Industrial Court. The two unions are embroiled in a battle of wits over where the union belongs. A faction claims it belongs…
A total of N5.85 billion was repaid as loans by Nigerian farmers under the Agricultural Credit Guarantee Scheme Fund (ACGSF) last year. The highest repaid amount of N769.15 million, representing 13.15 percent of the total, was made by Delta State, followed by Katsina and Adamawa states with N667.21 million and N532.64 million, respectively. Ekiti had the lowest repayment figure of…
The Central Bank of Nigeria (CBN) yesterday set end of June as deadline for full compliance to the proposal for the implementation of uniform customer bank account numbering system in the country. By that date, only banks with the Nigeria Uniform Bank Account Number (NUBAN) codes and validation test pass would be allowed access into the automated clearing system by…
The Nigerian Stock Exchange recorded a total loss of N449 billion on equities at the close of trading activities in March, after recording significant losses of N260 billion in the preceding month. The market value of the 217 listed equities, which opened the month at N8.315 trillion, closed on the last trading day in March at N7.866 trillion, reflecting a…