Statistics by the Nigeria Inter-Bank Settlement have shown that 20 million NIBSS instant payment (electronic fund transfer) worth N9.9tn were transacted between January and September this year. The data presented at the monthly meeting of the Nigerian Electronic Fraud Forum in Lagos on Thursday stated that transactions executed on NIBSS-registered […]
World News
Nigeria Cbank issues FirstRand with merchant bank licence
Nigeria’s central bank has issued the country’s first merchant banking licences in more than a decade to South Africa’s FirstRand and local firm FSDH, it said on Friday. They are the first since the regulatory distinction between merchant and commercial banking was axed twelve years ago. Following many Western countries, […]
Nigeria’s GDP grew by 6.48% in Q3 2012-Report
On an aggregate basis, the economy when measured by the Real Gross Domestic Prod-uct (GDP), grew by 6.48 percent in the third quarter of 2012 as against 7.37 percent in the corresponding quarter of 2011. The nominal GDP for the third quarter of 2012 was estimated at 10,967,272.89 million naira […]
