Why Polaris Bank was set up to take over Skye Bank—NDIC

NDIC Managing Director/CEE, Alhaji Umaru Ibrahim FELIX OLOYEDE The need to ensure the safety of depositors’ funds propelled the Central Bank of Nigeria (CBN) and Nigeria Deposit Insurance Corporation (NDIC) to establish Polaris Bank to succeed just defunct Skye Bank. NDIC disclosed said this today in a released signed by its Mohammed Ibrahim Head, More...

by Felix OLOYEDE | Published 15 hours ago
By Felix OLOYEDE On Friday, September 21st, 2018
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Experts blame shareholders as CBN revokes Skye Bank’s license

Godwin Emefiele, CBN Governor FELIX OLOYEDE The failure of Skye Bank shareholders to recapitalize the bank, which has been battling with acute liquidity challenges is responsible for the revocation of its operating More...

By Felix OLOYEDE On Thursday, September 20th, 2018
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Bulls return to stock market, appreciates 0.33%

L–R: Mrs. Yimika Phillips, Non-Executive Director, ETransact International Plc; Ms. Tinuade Awe, Executive Director, Regulation, The Nigerian Stock Exchange (NSE); Mr. Niyi Toluwalope, Managing Director/CEO, ETransact More...

By Felix OLOYEDE On Thursday, September 20th, 2018
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Ambode 2019: The godfather’s revolt

Governor Lagos State, Akinwunmi Ambode By OBINNA EZUGWU As uncertainty continues to hover around the second term bid of Lagos State governor, Akinwunmi Ambode, following an alleged plot by the state’s political More...

By Felix OLOYEDE On Thursday, September 20th, 2018
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FG to generate N6bn from concession of 20 Silos

Audu Ogbeh, Minister for Agric and Rural Development The Federal Executive Council (FEC) on Wednesday approved the Concessioning of 20 out of its 33 Silos to private sector operators at the cost of N6 billion. The More...

By Felix OLOYEDE On Wednesday, September 19th, 2018
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Number of extremely poor continues to soar in Sub-Sahara Africa

Although globally, extreme poverty has rapidly declined, the number of people living in extreme poverty is, however, on the rise in Sub-Saharan Africa, comprising more than half of the extreme poor in 2015, a new More...

By Felix OLOYEDE On Wednesday, September 19th, 2018
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MAN sets for 46th AGM as Jacobs bows out 

Dr Frank Jacobs, President Manufacturers Association of Nigeria (MAN) The Manufacturer Association of Nigeria (MAN) has unveiled plans for its 46th Annual General Meeting and Manufacturers Annual lecture/Presidential More...

By Felix OLOYEDE On Wednesday, September 19th, 2018
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Naira firms up marginally at I&E forex market

The Naira appreciated slightly against the dollar at the Investors and Exporters (I&E) Foreign Exchange window on Wednesday, assisted by new interventions by the Central Bank.  The local currency More...

By Felix OLOYEDE On Wednesday, September 19th, 2018
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Rivers, Delta, Bayelsa lead BudgIT’s 2018 fiscal sustainability index

State Governors at a public function Credit: Thecable.ng BudgIT, recently analysed the fiscal condition of states and noticed that states fiscal account generally improved on the back of increasing oil revenue. It More...