Monrovia — The Liberia Bank for Development and Investment (LBDI) has distanced itself from publications claiming that the bank has disclosed a list of borrowers, some of whom are high-profile individuals in the county. The bank in a release signed by its President noted that the list is purported and does not represent the view […]
Tag: Banking and Insurance
Players in the insurance sector last week gathered at the 2022 Chartered Insurance Institute of Ghana (CIIG)’s Educational Conference to deliberate on the impact of the country’s rising inflation on insurance premiums and how the industry can sustain the value of their clients in the face of it. The annual conference among other things sought […]
Kuala Lumpur, Malaysia — Calls for more government regulation and intervention are common during crises. But once the crises subside, pressures to reform quickly evaporate and the government is told to withdraw. New financial fads and opportunities are then touted, instead of long needed reforms. Global financial crisis The 2007-2009 global financial crisis (GFC) began […]
The CBN has decided, you can’t take more than N20,000 out of your own money from your own bank account in one day. In a country in which the majority of Nigerians have no bank accounts or smart phones, they want us all to engage in cashless transactions using bank cards and apps. They want […]
Nairobi — 500 professionals from leading African and international banks, financial institutions and banking associations yesterday converged in Nairobi, to enhance investments across the region.The 5th East African Banking and Microfinance Forum was organized by the Trade and Development Bank Group (TDB Group) and the European Investment Bank (EIB). The annual event brought together experts […]
The Member of Parliament (MP) for Bolgatanga Central Constituency in the Upper East Region, Isaac Adongo, has pleaded with the public not to put undue pressure on the financial sector by rushing to withdraw their funds. He also encouraged financial institutions and pension funds to reject the government’s terms under the Domestic Debt Restructuring Programme […]
Abuja, Nigeria — Nigeria’s Central Bank this week announced a new policy that restricts large amounts of cash from being withdrawn from bank accounts. The announcement comes two weeks after authorities unveiled redesigned currency in an attempt to curb cash hoarding and check corruption and crimes. But some critics say the decision will have a […]
Former national publicity secretary of Peoples Democratic Party (PDP) Chief Olisa Metuh has said the new cashless policy by the Central Bank of Nigeria (CBN) is counter productive and an inconvenience to poor Nigerians. Metuh in a statement said it is inconceivable that in an economy bedeviled with random and multiple bank charges, the Nation’s […]
IN SHORT: Is Kenya’s “hustler fund” meant to provide cheap loans only for supporters of newly elected president William Ruto? No, the claims on social media are false. A Facebook post published on 30 November 2022 claims that Kenyans who voted for the opposition in August’s general elections can’t borrow from a new small loans […]
After a year of intense negotiations and a difficult global economic outlook, development partners of the African Development Fund (ADF) have agreed to commit a total package of $8.9 billion to its 2023 to 2025 financing cycle. This, according to a statement yesterday, was the largest replenishment in the history of the Fund. The ADF […]
The World Bank, yesterday, said that Nigeria spent $9.6 billion to service foreign debts in 12 years, from 2010 to 2021, adding that the nation’s debt stock is not reflected in the economy. The World Bank disclosed this in its International Debt Report, IDR, which showed that Nigeria’s foreign debts rose astronomically by 305 per […]
There is damning evidence against 10 of the 19 people accused in the $2 bn secret debt trial, but no evidence against 9 lesser figures who had handled money but had no reason to know it was stolen, said Judge Efigenio Baptista in the first four days of delivering his verdict. Total bribes paid by […]
The Central Bank of Nigeria (CBN) yesterday said it offered treasury bills amounting to N7.33 trillion in the first half of the year (H1 2022) while total public subscriptions amounted to N10.94 trillion. The bank also stated that the total outstanding FGN domestic debt stock amounted to N20.91 trillion, representing an increase of N3.28 trillion […]
Zenith Bank Plc has emerged as ‘Bank of the Year in Nigeria’ in The Banker’s Bank of the year awards 2022. The award, which was announced by The Banker Magazine, Financial Times Group, United Kingdom, during an awards ceremony held in London, on December 1, 2022, was in recognition of Zenith Bank’s strong management, sound […]
Nume Ekeghe A survey carried out by Agusto&Co has revealed that 59 per cent of bank customers sampled indicated that they have fallen victim to fraud. According to the survey, 41 per cent said their accounts hadn’t been compromised, “however, the remaining had been victims through phishing emails, data breaches, unauthorised access to accounts through […]
The banking industry remains strong and profitable in spite of the difficult macroeconomic environment, the Governor of the Bank of Ghana (BoG), Dr Ernest Addison, has said. He said the total assets of the industry as of October 2022, grew to GH¢249.9 billion, representing an annual growth of 43.7 percent as of October 2022. “Underpinning […]
Nairobi — omalia’s economy rebounded with GDP growth of 2.9 percent in 2021, up from a contraction of 0.3 percent in 2020 and 0.5 percent higher than last year’s forecast of 2.4 percent. This, despite significant shocks and factors that muted economic recovery, including delayed elections, drought, supply chain bottlenecks from COVID-19 closures, and increased […]
Over 140 delegates from five anglophone countries in West Africa are expected to attend this year’s Annual Educational Conference of the West African Insurance Companies Association (WAICA) in Monrovia. The Annual Educational Conference, the second of two WAICA Annual events, will be held from November 27-29 at the EJS Ministerial Complex in Congo Town, according […]