The Manufacturers Association of Nigeria (MAN) has enjoined the Central Bank of Nigeria to focus on promoting domestic production and economic recovery by allowing time for previous rate increases to take effect before implementing further hikes. MAN made the call in reaction to the September increase in the Monetary Policy Rate (MPR) by 50 basis…
▪︎UGC image of Rotimi Akinde, and Ifeoma Uz’Okpala President Bola Tinubu has appointed Rotimi Akinde and Ifeoma Uz’Okpala as executive directors of the Bank of Industry (BOI). In a statement on Wednesday by Theodora Amechi, head of public relations division at BOI, the appointment took effect on August 26. BOI said Akinde will serve as…
(Industrial Times, Nigeria) Today, the Manufacturers Association of Nigeria (MAN) says that banks lending rates to the manufacturing industry are too high to promote productivity in the sector. Data obtained from the Association, shows that the maximum lending rates by the commercial banks range from 30 – 35 percent. Top Five Banks Lending RatesAccess Bank…
▪︎Mr. Haytham ElMaayergi, Afreximbank’s Executive Vice President, Global Trade Bank African Export-Import Bank (Afreximbank) plans to double its financing of intra-African trade from US$20 billion in 2021 to US$40 billion by 2026.Mr. Haytham ElMaayergi, Afreximbank’s Executive Vice President, Global Trade Bank, disclosed this in Abuja at the African Caucus Meeting of the World Bank Group…
Adetunji Ogunyemi, is a Professor of Economic History at the Obafemi Awolowo University, Ile Ife. He is also a lawyer and public finance expert. In this interview, Prof Ogunyemi speaks on the amendment of the Finance Act 2020 by the National Assembly to accommodate windfall levy on banks’ profits on foreign exchange transactions. He submits…
The management of Metal Manufacturing Nigeria Limited (MMNL) says that a credit facility it secured from the Nigerian Export-Import Bank (NEXIM) has increased the company’s production capacity to 25,000 batteries monthly. The Managing Director of the company, Mr Kumar Saraf, and the Chief Finance Officer, Mr Bikash Kumar, disclosed this on Wednesday when they paid…
British Deputy High Commissioner, Jonny Baxter, said, “When smaller businesses and women entrepreneurs are economically empowered, their whole community benefits.
We are thrilled to welcome RMB Nigeria Stockbrokers Limited into the Zedcrest family,” said Adedayo Amzat, CEO, Zedcrest Group.
The Federal Government has commended the Bank of Industry (BOI) and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) for partnering with the Katsina State in its MSME development drive. Vice President Kashim Shettima, gave the commendation when has commissioned the remodeled Katsina Industrial Development Centre (IDC), Common Facility Centre, and the flag-off…
The green lending programme will increase financing to small-scale green projects across Africa, South and South-East Asia through MSME lenders,
