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The Federal Government has appealed to the Islamic Development Bank (IsDB) to help fund the current administration’s Economic Recovery and Growth Plan (ERGP). Of particular interest in this regard, is the financing of infrastructure projects for which a wide gap exists, across the country.
The appeal was made by t Dr. Mahmoud Isa-Dutse, Permanent Secretary, Federal Ministry of Finance, who led the Nigerian delegation to the on-going 42nd Annual Meeting of the bank in Jedda, Saudi Arabia.
FXTM Research Analyst Lukman Otunuga comments on Gold amidst Trump uncertainty.
Gold swiftly regained its safe haven lustre on Wednesday after wave upon wave of uncertainty swirling around Donald Trump weathered risk sentiment.
Concerns have skyrocketed over the current political turmoil in the United States obstructing Trump’s efforts to implement his pro-growth policies, which simply punished the US Dollar.
Central Bank of Nigeria (CBN) has capped the fees charged by the banks on transaction alerts to N4 per SMS. The apex bank also restricted alerts to customer-induced transactions only.
The CBN directed the banks to consolidate into one single SMS alert all associated notifications relating to a particular transaction. However, SMS alert are mandatory.
“However, where a customer opts not to receive SMS alert, the customer should issue an indemnity for losses that may arise as a result to the bank,” the apex bank ruled.
Changing lifestyles and rising consumer standards of are major factors boosting the growth of the global ATM market, according to a new report by Zion Market Research, "ATM Market: Industry Perspective, Comprehensive Analysis and Forecast, 2015-2021."
The report also said that the introduction of niche types of ATMs —such as solar ATMs and smart ATMs — developed for emerging markets is another factor for the global ATM growth market.
In addition, new innovations in ATM technology are influencing the growth of the market, Zion said.
Annual inflation in Nigeria eased for the third straight month in April, inching down to 17.24 percent from 17.26 percent in March, the National Bureau of Statistics (NBS) said in a report.
A separate food price index, however, showed inflation there rose to 19.30 percent from 18.44 percent in March.
"This is the third consecutive month of a decline in the headline CPI rate, exhibiting effects of some easing in already high food and non-food prices, as well as favourable base effects over 2016 prices," the report stated.
FXTM Research Analyst Lukman Otunuga comments on UK inflation and the current moods of Sterling, Euro and Dollar.
Sterling tumbled lower on Tuesday following reports of UK consumer prices jumping to 2.7% in April, the highest level since September 2013. It is becoming quite clear that the Brexit-fuelled currency weakness has elevated inflation to uneasy levels with consumers likely to feel the pinch if wage growth fails to keep up.
The Western Union Company, a leader in global payments, has announced that it has further strengthened its global digital money transfer footprint, with the activation of its 40th wu.com transactional website, now providing full digital access for cross-border person-to-person (P2P) money transfer services across major developed nations including the US, Canada and major parts of Europe.
Okechukwu Enelamah, minister of industry, trade and investment during a discussing with Oxford Business Group (OBG), highlighted government’s plan to boost economy.
A key trade facilitation agreement (TFA) signed by Nigeria and more than 100 other nations with the World Trade Organisation is expected to provide the country’s manufacturing industry with a major boost, Okechukwu E Enelamah, the minister of industry, trade and investment, told Oxford Business Group (OBG).