Business

Financial Inclusion: Number of Access Bank agents hits 100,000 across Nigeria

One of the foremost banks in Nigeria, Access Bank in its effort to boost financial inclusion has announced intentions to significantly increase its customer base and deepen wallet share of the banking population riding on its agency banking platform. Access Bank agency banking ‘Access Closa’ recently hit a milestone of having 100,000 agents currently spread across Nigeria as the bank ...

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Rise in US dollars making cost of cooking gas fluctuate- NLPGA

The Nigeria Liquified Petroleum Gas Association (NLPGA) has explained reason why the cost of cooking gas is not steady. The President, Nuhu Yakubu spoke during a visit to former President Olusegun Obasanjo in Abeokuta, the Ogun State capital. Yakubu said the fluctuations in the LPG price were caused by the local rate of the American currency. “Once the United States ...

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MPC: CBN jarks up interest rate to 13%

Taking decision after its meeting, Monetary Policy Committee of the Central Bank of Nigeria (CBN) has jacked up benchmark interest to 13 percent. The Governor of the Central Bank, Godwin Emefiele, while reading the communique said the action was to tame the raising inflation rate in the country. Nigeria’s inflation rate jumped to 16.82 per cent in April from 15.92 ...

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Nigerian economy grew by 3.11% in first quarter of 2022- NBS

The National Bureau of Statistics (NBS, has disclosed that Nigeria’s economy has experienced growth of 3.11%, year on year, YoY, in the first quarter of the year (Q1’22) from 0.51% as recorded in the corresponding period in 2021 (Q1’21). The Nigerian Gross Domestic Product Report (Q1 2022) released this morning (Monday) by the National Bureau of Statistics, said, “Gross Domestic ...

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Buhari appoints Anamekwe Chukwunyere as new Accountant-General

The Presidency has approved the appointment of Anamekwe Chukwunyere Nwabuoku as the new Accountant-General of the Federation. The new development follows the recent suspension of Ahmed Idris over allegation of corrupt practices. Nwabuoku’s appointment by President Mohammadu Buhari was confirmed in a letter signed by the Permanent Secretary of Finance, Federal Ministry of Finance, Budget and National Planning, Aliyu Ahmed, ...

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Refinery: Report says Dangote currently broke

A new report claims that Africa’s richest man, Aliko Dangote, does not have the kind of money needed to complete his refinery by 2023. The report published by Fitch, the world’s biggest global rating agency, alleges that the Nigerian billionaire requires an additional $1.1 billion (900 billion) to complete the refinery but has invested all his cash and even borrowed ...

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Access Holdings Plc sets to acquire First Guarantee Pension Limited

Following its divestment from its own pension business, Access Holdings Plc, the parent company of Access Bank Plc has announced plans to acquire a majority equity stake in FBN Holding’s pension subsidiary, First Guarantee Pension Limited. The Group, according to a disclosure filed with the exchange (NGX), has entered into an agreement with the company regarding the potential acquisition of ...

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UBA sets to expand its Artificial Intelligence chatbot

In a bid to give facelift to its operational activities, United Bank for Africa (UBA) Plc has announced the expansion of the services of Leo, its Artificial Intelligence chatbot to Google Business Chat and Instagram. Leo – UBA’s AI-powered chatbot, which enables customers to make use of their social media accounts to carry out key banking transactions – was first ...

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Nigeria needs DFIs to solve economic challenges- BoI MD

The Bank of Industry has called for the increased collaboration of Development Finance Institutions (DFIs) to end some of the nation’s economic challenges. This was made known by the Managing Director, Bank of Industry (BoI), Olukayode Pitan at the Nigerian Development Finance Institution’s annual general meeting. According to the Chairman of the group, it is compelling for DFIs to increase ...

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