Central Bank of Nigeria (CBN) has set the minimum capital requirement of N6 billion for the operation of Mortgage Guarantee Companies (MGC) in the country. In an exposure draft posted on its website, it pointed out that the licensing of MGC would deepen the mortgage banking sub-sector, through increased market access to mortgage finance and…
United States Africa Development Foundation has invested over N8.64 billion ($24 million) to boost capacity of farmers across the country. Speaking at an Agriculture mini-fair, organised by the foundation in collaboration with Diamond Development Initiative, stakeholders in the sector, including the U.S. Ambassador to Nigeria, Stuart Syminton, Executive Director, Diamond Development Initiative, Adamu Garba, President,…
The Development Bank of Nigeria says it has become a member of the SME Finance Forum, a global membership network that brings together financial institutions, technology companies, and development finance institutions to share knowledge, spur innovation, and promote the growth of the Small and Medium Enterprises. Established by the G20 Global Partnership for Financial Inclusion…
The Central Bank of Nigeria has increased the capital requirements for microfinance banks in the country in a bid to tackle the challenge of inadequate capital base in the sub-sector. The CBN announced the upward review of the minimum capital requirement in a circular dated October 22, 2018 to all microfinance banks in the country.…
Equities Market The Nigerian equities Bourse close the day on a high as both NSE ASI and market capitalization increased by 0.69% respectively, as they both closed at 33,191.45points and N12, 117.44tr respectively. Year-to-Date ASI is at a negative of 13.26%. Volume and Value of trades both decreased by 28.20% and 52.52% to N185.193M and…
