Business
CBN Reduces Banks’ Loan-to-Deposit Ratio to 50%
The Central Bank of Nigeria (CBN) has slashed banks’ Loan-to-Deposit Ratio (LDR) from 65% to 50% to enhance lending to the real sector...
Soldiers in Custody Over Alleged Theft of 897 Armoured Cables at Dangote Refinery
The Nigerian Army has detained two soldiers accused of stealing armoured cables at the Dangote refinery, according to a statement released on Wednesday...
CBN reduces commercial banks access to loans by 50%
The Central Bank of Nigeria (CBN) has reduced the loan-to-deposit ratio (LDR) for commercial banks from 65% to 50% as a means to...
CBN is Largely Depleting Nigeria’s Dollar Reserves to Improve Naira – Bloomberg
Nigeria’s foreign exchange reserves are dwindling at an alarming rate as reported by Bloomberg. Since March 18, the country’s liquid reserves have reportedly...
Wema Bank Reports Fraud Losses Amid Impressive Growth for 2023
Wema Bank, a Nigerian tier-2 financial institution holding ₦1.8 trillion ($1.6 billion) in consumer deposits, reported ₦685 million ($594,943) in fraud and forgery...
US raises concern over increasing number of oil-rich countries joining BRICS
The United States National Security Advisor, Jake Sullivan, has reacted to the increasing number of oil-rich countries, including Middle Eastern countries, positioning to...
Vietnamese Real Estate Tycoon Sentenced to Death for $27 Billion Bank Fraud
Vietnamese real estate mogul Truong My Lan was sentenced to death by a court in Ho Chi Minh City, Vietnam, for her role...
‘We’re being deliberately frustrated’ – Air Peace Chairman raises alarm over price slash
The Chairman of Nigerian Air Peace, Allen Onyema, has raised the alarm over an alleged conspiracy among foreign carriers operating the Nigeria-UK route...
Lagos Govt. Shuts Down Several Markets After Fire in Dosumu Affect 14 Buildings
The Lagos State Government has decided to close several markets in response to recent fire outbreaks in the state’s central area. Following a...
Fire Reduces Over 200 Shops to Ashes in Cross River Market
A devastating fire outbreak on Monday night reduced over 200 shops to ashes at Ikom main market in the Ikom Local Government Area...
MTN, Airtel Lead Nigeria’s Mobile Subscription Rebound To N219 Million In February
According to the latest data from the Nigerian Communications Commission (NCC), mobile subscriptions in Nigeria surged to 219.7 million in February 2024, driven...