A lender, First City Monument Bank (FCMB), has expanded its energy finance loan to N30 million to support households and small businesses in the acquisition of solar panels, batteries, inverters, and other clean energy equipment. The bank explained that with a maximum three-year repayment schedule, this initiative, the bank said, aims to promote sustainable energy…
Chairman, Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has said the proposed amendment to value-added tax (VAT) distribution will create a fair system. In response to the recent rejection of the proposed tax amendment bill by the Northern States Governors Forum (NSGF), Oyedele said the current model for distributing VAT affects many…
The Bank of Industry (BoI) has opened its application portal for would be beneficiaries of the Federal Government’s N75billion Micro, Small, and Medium Enterprises (MSMEs) Intervention Fund. This is even as the Nigerian Association of Small Scale Industrialists (NASSI) lauded the FG for the intervention programme, describing it as lifeline for Nigerian MSMEs. A representative…
Nigeria’s apex bank has advised Nigerians in diaspora to channel their remittances home towards investment rather than consumption. Deputy Governor (Financial System Stability) at the Central Bank of Nigeria (CBN), Mr. Philip Ikeazor, gave the advice during a forum that focused on: “Optimizing Remittances to Nigeria: A Vision for the Future,” held with the Nigerian…
THE Central Bank of Nigeria (CBN) has dismissed as baseless, reports that the old N200, N500, and N1,000 banknotes will cease to be legal tender on December 31, 2024. The apex bank, in a statement endorsed by the Acting Director of Corporate Communications, Mrs. Sidi Ali, dismissed the suggestion, describing it as false and intended…
Chairman, Nigerian Insurance Association (NIA), Mr Kunle Ahmed, ha said the recent rise in Foreign Direct Investment (FDI) in Nigeria indicates renewed interest in the nation’s insurance sector. Ahmed, who emerged as the 26th Chairman of the NIA, said this at his re-investiture media parley in Lagos. The News Agency of Nigeria (NAN) reports that…
A day after Guaranty Trust Bank (GTBank) transitioned to a new banking application system, customers have expressed concerns over ongoing service disruptions. Speaking with the News Agency of Nigeria (NAN) on Tuesday, customers at various GTBank branches in Lagos, expressed frustration over difficulties in accessing their accounts and completing transactions. NAN correspondent who visited several…
Nigeria lender, Access Holdings Plc, said its subsidiary, Access Bank Plc, has secured a provisional licence from the Bank of Namibia to establish a commercial bank in the country. In a statement to the Nigerian Exchange and the general public, Managing Director/Chief Executive Officer of Access Bank PLC, Roosevelt Ogbonna, explained why the Tier-1 lender…
Stanbic IBTC Bank has restated its commitment to grow the gas sector by increasing its funding requirements. The bank said from storage, production, delivery and even down to the renewable energy side of the divide there were a whole lot of products in place to support the gas value chain. Describing renewable energy as key…
