Category: Money Market

Afreximbank’s FEDA to lift FDI

The Fund for Export Development in Africa (FEDA), the equity investment fund created recently by the African Export-Import Bank (Afreximbank), will catalyse foreign direct investment (FDI) flows into Africa’s trade and export sectors, President of the bank, Benedict Oramah has said. Speaking in Tunis during the opening of the Financing Investment and Trade in Africa…

CBN injects $210m into forex market

The Central Bank of Nigeria has injected $210m into the various segments of the market to sustain its intervention in the Inter-Bank Foreign Exchange Market. CBN Director, Corporate Communications, Mr Isaac Okorafor, made this known in a statement on Tuesday in Abuja. Okorafor said that the apex bank offered $100m as wholesale interventions and allocated…

Zenith Bank grow Nets profit by N19.68bn to close at N193bn from N173bn in 2017

Zenith Bank is a Nigerian multinational financial services provider. It is licensed as a commercial bank, by the Central Bank of Nigeria, the central bank and national banking regulator. The Bank is a large financial service provider in Nigeria and Anglophone West Africa on Tuesday presented its audited financials for the year ended December 31,…

‘World Bank’s funded project on course’

The Project Implementation Unit, World Bank Growth and Employment Project (GEM) has assured stakeholders its funded project is on course in the country. The Unit, in a statment yesterday, said contrary to insinuations to the contrary, GEM, a $160million World Bank-funded project, being implemented by the Ministry of Industry, Trade and Investment (FMITI), is a…