▪︎CBN Governor, Olayemi Cardoso The Central Bank of Nigeria, CBN, on Monday, banned the use of foreign denominated collaterals for naira loans. This was contained in a circular dated April 8, 2024 and directed to all banks by the CBN’s Acting Director of Banking Supervision Department. In the circular titled, “The Use of Foreign-Currency Denominated…
▪︎Assures Amicable Resolution ▪︎A photo collage of the CEO of Erisco Foods Limited, Mr Eric Umeofia, and Chioma Okoli. The Manufacturers Association of Nigeria (MAN) says that the actions taken by Erisco Foods Limited – the manufacturers of Nagiko tomato paste, on Chioma Okoli, were justified. The Association assures the public that it will resolve…
▪︎Image: $75m loan agreement signing ceremony between AfDB and Indorama Eleme Fertiliser The African Development Bank has signed a $75 million loan agreement with Nigeria’s Indorama Eleme Fertilizer and Chemicals Limited to increase its fertilizer production and develop a port terminal for exports. Ousmane Fall, the African Development Bank’s acting director for Industrial and Trade…
