The Monetary Policy Committee of the Central Bank of Nigeria, on Wednesday, unanimously voted to increase its monetary policy interest rates to 18.5 per cent. The PUNCH reports in March that the MPC of the bank voted to increase the benchmark interest rate by 50 basis points to 18 per[Read More…]
The National Bureau of Statistics (NBS) disclosed on Wednesday that Nigeria’s Gross Domestic Product (GDP) growth declined to 2.31 per cent in the first quarter (Q1) of 2023. Ripples Nigeria learnt that the 2.31 per cent GDP growth fell below the 3.52 per cent reported in the fourth quarter (Q4)[Read More…]
Shareholders of leading financial institution, Fidelity Bank Plc, have commended the board and management of the bank for delivering an exceptional performance in FY 2022. This was made known at the bank’s 35th Annual General Meeting (AGM) held virtually on Tuesday, May 23, 2023. Speaking at the AGM, the Chairman[Read More…]
Former Group Chief Executive Officer (GCEO), Ecobank Transnational Incorporated (ETI), Mr. Ade Ayeyemi has been scheduled as Guest Speaker at the 6th edition of CFA Society of Nigeria Quarterly Leadership Series. The virtual event is scheduled for Thursday, May 25 between 11am and 12:30pm. The CFA Society Nigeria Quarterly Leadership[Read More…]
…effect by 2024 The United Kingdom has put in place a law that will see Nigerian students, and others studying in the UK from bringing family as dependents except under specific circumstances. This is as the UK government aims to bring immigration into the country which stands at about 1[Read More…]
The Central Bank of Nigeria (CBN) has revoked the operating licenses of 132 microfinance banks in the country, alongside those of four primary mortgage banks and three finance companies. This was disclosed in the official gazette of the Federal Government, which was published on the website of the CBN on[Read More…]
Google on Monday, May 22, announced the expansion of its Flood Hub platform to cover 80 countries worldwide, including the addition of 8 new countries in Africa. To date, 23 African countries are on the Flood Hub. This expansion comes as part of AI-enabled efforts to address the devastating impacts[Read More…]
The National Insurance Commission (NAICOM) has released the insurance regulatory’s sandbox operational guidelines, to take effect from May 1, this year. The guideline is to encourage innovation that would drive financial inclusion and positive competition. This is expected to be used to test insurance solicitation or distribution; insurance products, underwriting,[Read More…]
The International Monetary Fund (IMF) has expressed disappointment over the rather slow adoption of Nigeria’s digital currency, eNaira, stressing that it leaves nothing to cheer about. According to The Nation, IMF disclosed in a report titled, “Nigeria’s eNaira, One Year After,” dated May 2023 and obtained at the weekend,[Read More…]
The financial services industry dominated in volume terms at the end of last week’s transactions on the equities sector of Nigeria’s capital market. It led the activity chart with 2.1 billion shares valued at N21.8 billion traded in 14,008 deals, thus contributing 69.2 per cent to the total equity turnover.[Read More…]
