Finance
CBN Reduces Banks’ Loan-to-Deposit Ratio to 50%
The Central Bank of Nigeria (CBN) has slashed banks’ Loan-to-Deposit Ratio (LDR) from 65% to 50% to enhance lending to the real sector...
CBN reduces commercial banks access to loans by 50%
The Central Bank of Nigeria (CBN) has reduced the loan-to-deposit ratio (LDR) for commercial banks from 65% to 50% as a means to...
Wema Bank Reports Fraud Losses Amid Impressive Growth for 2023
Wema Bank, a Nigerian tier-2 financial institution holding ₦1.8 trillion ($1.6 billion) in consumer deposits, reported ₦685 million ($594,943) in fraud and forgery...
Vietnamese Real Estate Tycoon Sentenced to Death for $27 Billion Bank Fraud
Vietnamese real estate mogul Truong My Lan was sentenced to death by a court in Ho Chi Minh City, Vietnam, for her role...
BRICS: China, Russia Announce New Partnership Deal to foster de-dollarisation plan
Following the US sanctions on Russia and China, the BRICS members have announced a new partnership deal aimed at fostering a multipolar world....
US Prosecutors Target Luxury Apartment Owned to Congolese Ex-President’s Daughter
The US authorities are looking to forfeit a $7.1 million luxurious apartment bought with embezzled public funds by the Family of Congo’s Ex-President,...
EFCC Warns Local Businesses Against Dollar Transactions, Threatens Arrest
The Economic and Financial Crimes Commission (EFCC) has warned establishments across Nigeria against accepting payments in dollars from local customers. The Chairman of...
El Salvador President, Bukele Launches Offer for External Debt Repurchase
El Salvador’s President Nayib Bukele announced on X (formerly Twitter) on Monday evening that the country has officially launched the purchase offer for...
EFCC sets to arraign Emefiele alongside co-defendant Omole on a fresh 26-count charge
The Economic and Financial Crimes Commission (EFCC) will on Monday 8th of April, 2024 arraign the embattled ex-CBN governor, Godwin Emefiele alongside his...
PiggyVest CEO Hints at Potential IPO in Coming Years
PiggyVest, a leading Nigerian fintech firm, may be gearing up for a public offering in the near future, according to CEO Somtochukwu Ifueze....
Lagos State Releases Policy Statement on 2024 Appropriation Bill
The Lagos State government has released the state’s policy statement on the 2024 appropriation bill. Released on Friday, March 29, 2024, the appropriation...