The Islamic Development Bank (IsDB) Institute has slated the 18th edition of its Global Forum on Islamic Finance to hold in Riyadh, Saudi Arabia, on April 28. The forum will be hold alongside the IsDB Group’s Annual Meetings and Golden Jubilee Celebration. It is organised annually as a flagship side event of the Group’s Annual […]
From Jafar Omoniyi, Abuja Vice President Kashim Shettima has assured Nigerians that the nation’s currency, Naira would continue to gain value against the American dollar at the forex market, the office of VP said in a statement. TheNewsZenith reports that the spokesperson of the Vice-President, Mr Stanley Nkwocha, in the statement quoted Shettima as […]
From Opeyemi Muhammed President Bola Tinubu, on Tuesday in Abuja, inaugurated the National Steering Committee of the National Single Window (NSW) project. Inaugurating the committee in Abuja, Tinubu said the introduction of the NSW project would facilitate national and regional integration. TheNewsZenith gathered that the NSW is a trade facilitation concept. It allows an international […]
By Abdulfatah Babatunde Wema Bank PLC has announced its full Year 2023 Audited financial statement, recording a profit before tax growth of 196 per cent from ₦14.75 billion to N43.59 billion. The bank also proposed a dividend of 50 kobo per share; up from 30 kobo in 2022. It recorded deposit growth of 60 per […]
Egyptian inflation is forecast to have ticked up in March as prices adjust to a currency devaluation and an interest rate hike early in the month. This is followed by an increase in fuel prices two weeks later, a Reuters poll showed on Saturday. The austerity measures are linked to a $8 billion financial support […]
By Our Correspondent A microfinance bank (MFB), Moniepoint, says it has developed a new Unstructured Supplementary Service Data (USSD) service to enhance financial inclusion and prevent fraud. The Managing Director of the MFB, Mr Babatunde Olofin, announced the development in a statement on Tuesday in Lagos. According to Olofin, the USSD service would be accessible […]
Cote d’Ivoire’s President Alassane Ouattara will increase the official cocoa farmgate price to 1,500 CFA francs ($2.47) per kilogramme from next Tuesday from the current 1,000 CFA, sources at five different export companies said. The sources, who requested anonymity, said they were citing a decision at a government meeting on Saturday. Earlier, Ouattara had validated […]
By Our Correspondent Lagos Island residents, on Sunday, trooped out en mass to buy food items at the Food Market Hub facilitated by Mrs Omolara Oyekan-Olumegbon, a lawmaker representing Lagos Island Constituency I in the State House of Assembly. TheNewsZenith reports that Oyekan-Olumegbon organised the market hub, tagged “Senator Oluremi Tinubu Food Bank” at the […]
From Our Correspondent The Central Bank of Nigeria (CBN), on Thursday, announced new minimum capital requirements for banks to enhance banks’ resilience and strengthen the country’s financial system. The Apex bank said it is pegging the minimum capital base for commercial banks with international authorisation at N500 billion ($353.32 million). It also said it will […]
Global oil prices edged up on Thursday, recovering from two consecutive sessions of decline, as investors reassessed the latest U.S. crude oil and gasoline inventories data and returned to buying mode. Brent crude futures for May were up 29 cents, or 0.34 per cent, at $86.38 a barrel while the more actively traded June contract […]