There are speculations that the Central Bank of Nigeria (CBN) might pounce on foreign currencies in domiciliary accounts and convert such to naira in order to stabilise the foreign market. The rumour first surfaced on social media that the apex would be converting to naira domiciliary account holdings How True Is This Report? The same … Read more
The Central Bank of Nigeria (CBN) has vowed to revoke for a year the foreign exchange operating licence of any bank that engage FX malpractices The apex stated this in a circular entitled, “Observance of due diligence in the processing of foreign exchange transactions” which was signed by its Director of Trade and Exchanges Dr. … Read more
An export certificate is a licence that is issued by the government which gives an individual or a company the permission and authority to partake in the export of raw or finished products from a country to another. In Nigeria, for instance, non-oil product licences are issued by Nigerian Export Promotion Council (NEPC) after an … Read more
Nirsal Micro Finance Bank has launched a non-interest banking window for Targeted Credit Facility and the Agric Small Medium Enterprise Scheme (AGSMEIS). With the latest announcement, NMFB joins the list of four other banks in Nigeria that offers non-interest banking products, Jaiz bank is the first financial institution in Nigeria to start the Islamic principle … Read more
One of the cabinet members of President Muhammadu Buhari with an intimidating profile is the Minister of the Federal Capital Territory, Alhaji Muhammed Musa Bello, a cool-header Yola-man, yet a result-driven The former banker who underwent banking training at one of the most reputable financial institutions in the world could simply be described as the … Read more
The Rivers state government is on the path of setting a precedence in the collection of Value Added Tax (VAT) law in Nigeria that could trigger a domino effect in the current demented federalism if the ruling of a High Court in the oil-rich state is upheld by an Appeal Court. Timeline: On August 10, … Read more
The term startup refers to a business in its early stage of operation which is usually owned and managed by one man or partners Because they start with limited resources, the early-stage decision and management can make or mar the success of the business In today’s digital age, where businesses are basically done online, entrepreneurs … Read more
The poultry farming business is one of the capital-intensive businesses. It requires proper planning and management Poor management could lead to a loss running into millions or billions of naira. No wonder, a new poultry farming entrant learns from existing farmers for avoidable mistakes. Poultry farming includes the rearing of domesticated birds like ducks, chickens, … Read more
With $20 million in financing from the Islamic Corporation for the Development of the Private Sector (ICD) in 2018 and another $25million to support SMEs in September 2021, Jaiz Bank’s interest-free business loan products might be the choice of startups irrespective of religious sentiments in a few years. Founded by Alhaji Umar Mutallab in 2003, Jaiz … Read more
The pioneer of non-interest credit facility in Nigeria Jaiz Bank says it has got $25million from Islamic Corporation for the Development of the Private Sector (ICD). ICD is the private sector arm of the Islamic Development Bank (IsDB), a Saudi Arabia-based multilateral development finance institution that is focused on Islamic finance. If converted to naira using the CBN … Read more
Lotus Bank is a Non-Interest or Islamic bank in Nigeria, joining the likes of Jaiz Bank, Sterling Alternative Finance, and Taj Bank. Today, Lotus Bank has 36 branches spread across Lagos, Abuja, Kwara, Oyo, Nasarawa, Ogun, Kano, Ondo, Osun and Niger States. Non-interest banks make it easy for small businesses and entrepreneurs to tap into the … Read more
The coup de tat in Guinea isn’t the first one where an employee would kick out their appointor. We saw it happen in Egypt, Chad, DRC, and on Sunday, September 5, 2021, a French-trained soldier Col Mamady Doumbouya kicked out his boss President Alpha Conde from Presidential Palace. Disclaimer: InfomediaNG Team is still monitoring the … Read more
One of the ways for a business owner to quickly achieve their entrepreneurial goals is to get access to a soft or an interest-free loan, but most of the financial institutions around the world make a profit from interest on a credit facility. However, some financial institutions in Nigeria are gradually embracing Islamic tenets of … Read more
On Wednesday, May 10, 2023, the former minister of power Sale Mamman was arrested and detained by the Economic and Financial Crimes Commission (EFCC) for allegedly embezzling NGN22 billion. The ex-minister is surrounded by many controversies even when he was in office between 2019 to 2021. Intro: The privileges that come with political posts in … Read more
Dynamic, proactive, and result-oriented are some of the few adjectives to describe Mohammad Abubakar, a holder of Ph.D. in Watersheds Management at the University of Arizona, Tucson in the United States of America. No one knew what the former chairman of the Universal Basic Education Commission had in his bag in terms of innovations until … Read more