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FG begins audit of banks’ remittances to CBN

The Federal Government has commenced audit of remittances of its funds into the Treasury Single Account (TSA) by Deposit Money Banks. Speaking in Abuja at a two-day workshop for finance journalists on the TSA and other public financial management reforms, the Director, Funds, Office of the Accountant General of the ...

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Access Bank Encourages Savings through Family For

  Foremost Nigerian financial institution, Access Bank Plc has rewarded 120 of its loyal customers whilst promoting financial inclusion and encouraging a savings culture in Nigeria. This is in line with the Federal Government’s quest to boost economic growth in the country. The Bank recently introduced the family fortune promo ...

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Wema Bank opens new branch in Maraba

Wema Bank, the pioneer of Nigeria’s first fully digital bank ALAT, is reinforcing its presence in northern Nigeria as it opened a new branch in Maraba, Nasarawa State. Maraba is growing rapidly as an economic hub, feeding off the Federal Capital Territory (FCT) as a result of the continuous growth ...

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CBN Injects $364m into Inter-Bank Forex Mark

The Central Bank of Nigeria (CBN) on Tuesday, August 15, 2017, intervened in the Inter-Bank Foreign Exchange Market to the tune of $364million in a bid to sustain liquidity in the market. A breakdown of Tuesday’s forex intervention indicates that the Retail Secondary Market Intervention Sales (SMIS) received the largest ...

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Access Bank adjudged ‘Best Sustainable Bank’

Herbert Wigwe [3rd from Left ], Group MD of Access Bank with officials of the Bank, award organisers       Access Bank has for the second time emerged winner of the ‘Outstanding Business Sustainability Achievement’ Award at the 2017 edition held in Germany. This comes a year after the ...

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Headline Inflation in July to Marginally Increase to 16.26

Year-on-Year headline inflation is expected to increase by 0.16% to 16.26% in July, leading to a reversal of a positive trend of the last 5 months. The influence of base year effects on headline inflation has weakened immensely. In our estimates, month-on-month inflation is expected to taper significantly to 1.37% ...

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Fitch affirms African Development Bank at ‘AAA’; Outlook Stable

Fitch Ratings has affirmed the African Development Bank’s (AfDB) Long-Term Issuer Default Rating (IDR) at ‘AAA’ with a Stable Outlook and Short- Term IDR at ‘F1+’. A full list of rating actions is at the end of this rating action commentary. Key Rating Drivers The ‘AAA’ rating primarily reflects extraordinary ...

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