The Central Bank of Nigeria has imposed a fine of N47.708m on Stanbic IBTC Bank Plc for contravening the Commercial Agriculture Credit Scheme for the month of March. The CBN in a report on Friday said, “In the period under review, the sum of N470m was withdrawn from Stanbic IBTC […]

The Nigerian Deposit Insurance Corporation has said it has disbursed N2bn to 71,000 depositors of 103 closed microfinance banks in the country. The Managing Director of the corporation, Alhaji Umaru Ibrahim, announced this on Saturday at the NDIC Special Day at the ongoing 23rd Enugu International Trade Fair. Ibrahim, who […]

The International Monetary Fund (IMF) said on Saturday that Malawi, which has seen donor aid dry up and revenue shrink, should cut spending and reiterated its call for the devaluation of the kwacha currency. A mission from the fund has been taking stock of the southern African country’s public finances, […]