By Ginika Okoye The Nigeria Deposit Insurance Corporation (NDIC), says it will begin payment of insured sum to 2.3 million depositors of Heritage Bank in-liquidation within the week. The Managing Director of NDIC, Mr Bello Hassan, said this while briefing newsmen in Abuja on Wednesday. The managing director said theContinue Reading
By Lucy Ogalue The University of Abuja and the Gemological Institute of Nigeria (GIN) have signed a Memorandum of Understanding (MoU) to strengthen the mining sector. The GIN President, and 1st Deputy President, Abuja Chamber of Commerce and Industry (ACCI), Prof. Adesoji Adesugba, during the signing, said the MoU wouldContinue Reading
By Gregory O. Mmaduakolam An Economist, Mr Abba Adaudu, has decried the revocation of the licence of Heritage Bank by the Central of Nigeria (CBN) due to a breach of banking regulations. Adaudu, who is also a financial consultant, spoke with the News Agency of Nigeria (NAN) on Tuesday inContinue Reading
By Kadiri Abdulrahman The Central Bank of Nigeria (CBN), has announced revocation of the licence of Heritage Bank Plc with immediate effect. This is according to a statement issued by Hakama Sidi-Ali, the Acting Director, Corporate Communications Department of CBN on Monday in Abuja. Sidi-Ali said that the action wasContinue Reading
By Lucy Ogalue The African Development Bank (AfDB) Group President, Dr Akinwumi Adesina, has reaffirmed the bank’s commitment to continue to deliver at scale to countries in the continent. Adesina said this at the sideline of an event to celebrate the bank’s 60th anniversary. The event was held on theContinue Reading
By Lucy Ogalue Africa needs to close a financing gap of about 402.2 billion dollars annually by 2030 to fast-track its structural transformation. Dr Akinwumi Adesina, President, African Development Bank (AfDB), said this during the presentation of the African Economic Outlook (AEO) 2024 at the ongoing AfDB Annual Meetings inContinue Reading
By Rukayat Moisemhe The Interior Designers Association of Nigeria (IDAN) has urged stakeholders across the interior design ecosystem to embrace a blend of multi-generational and futuristic aesthetics and designs to drive inclusion. The President of the association, Dr Jennifer Chukwujekwe, said that this would also help to safeguard the futureContinue Reading
By Lucy Ogalue Growth rate of Nigeria and other West African countries is projected to rise from an estimated 3.6 per cent in 2023 to 4.2 and 4.4 per cent in 2024/2025. The African Development Bank (AfDB) Vice-President and Chief Economist, Kevin Urama, said this at Thursday’s highlight of theContinue Reading
By Lucy Ogalue Some African leaders say the continent will benefit from increasing its alliance with Brazil, Russia, India, China, and South Africa (BRICS) group because of the many investment opportunities. They spoke during a BRICS Business Breakfast in Nairobi, Kenya, on the sidelines of the ongoing African Development BankContinue Reading
By Lucy Ogalue African Leaders have advocated for a reform of the financial architecture that integrates climate change and public finance to liberate Africa. They spoke on Wednesday at the official opening of the ongoing 2024 African Development Bank (AfDB) Group meetings in Nairobi, Kenya. The News Agency of NigeriaContinue Reading
