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Business

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Niteon Unveils First African Manufacturers Bank to Unlock $200bn Digital Export Market

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ICT

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Governors, NCC Set for Broadband Awareness Forum Oct 20

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VerveLife 5.0 Gears Up for Nairobi, Lagos Events

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Telecom Infrastructure Critical to Successful 2023 Elections – Danbatta

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Capital Market

SEC DG: Commission Considering Gradual Implementation of ISSB Standards

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ISSB-Aligned Disclosures Will Lower Capital Costs, Attract Global Investors — SEC

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SEC DG to Cadets:  Invest Early, Long Term to Create Wealth

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SEC DG: Accountability, Transparency will Boost Investor Confidence in Capital Market

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Insurance

13-year-old Rhema-Love Abraham Emerges Winner of 2025 Heirs Insurance Essay Championship

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Leadway Assurance: Insurance Company of the Year at 2025 BAFI Awards

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Heirs Insurance Group Announces Inaugural Travel Festival: A Call for Inclusive Travel Ecosystem for Africans

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Sovereign Trust Insurance Celebrates 2025 Customer Service Week

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Leadway: 55 Years of Innovation, Expanding Financial Access, Inclusion Across West Africa

Leadway, one of Nigeria’s foremost non-banking financial services and...

Business

Troyka Holdings Chair, Biodun Shobanjo, Inducted into Loeries Hall of Fame

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Zenith Bank, NEM, Seplat, AIICO, Dangote Cement, First HoldCo Recognised as Nigeria’s High-Performing Companies

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Finance Min, Wale Edun, to Keynote FiBOP Annual Confab Oct 18

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Niteon Unveils First African Manufacturers Bank to Unlock $200bn Digital Export Market

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FG Boosts MSME Financing with NCGC Initiative

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ICT

Konga Partners Verve to Delight Customers with Free Shopping Vouchers

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NCC Spotlights Renewable Energy on World Consumer Rights Day

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Governors, NCC Set for Broadband Awareness Forum Oct 20

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Capital Market

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Insurance

13-year-old Rhema-Love Abraham Emerges Winner of 2025 Heirs Insurance Essay Championship

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Leadway Assurance: Insurance Company of the Year at 2025 BAFI Awards

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Heirs Insurance Group Announces Inaugural Travel Festival: A Call for Inclusive Travel Ecosystem for Africans

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Adeosun: DBN Will Catalyse Growth of SMEs in Nigeria

The Minister of Finance, Mrs. Kemi Adeosun has stated that the Development Bank of Nigeria (DBN) is being positioned to galvanise the Small and Medium Scale Enterprises sector for the overall development of the nation’s economy.

According to her, the present administration is aware of the role of SMEs in national economy, hence the resolve to position the DBN as a catalyst for the development of the SMEs. The wide range of SMEs is a reflection of our economic diversity.

The Minister, who spoke during a Board/Management/Development partners’ retreat of the DBN in Abuja, also assured the Board that the Federal Government is ready to provide support for the new development financial institution.

The DBN had convened its Development Partners and incoming management team and Board of Directors for an inaugural strategy retreat, in order to ready itself for immediate operation upon the issuance of its licence by the Central Bank of Nigeria (CBN).

She decried the present situation where SMEs account for 45 per cent of the Nigeria’s Gross Domestic Product (GDP) but just 10 per cent of bank credit.

She pointed out that currently, Nigeria’s financing of MSMEs lagged significantly behind other countries, including Brazil (63 per cent), Ghana (36 per cent), China (30 per cent), Kenya (24 per cent), and South Africa (21 per cent).

However, the Minister who disclosed that the operating licence for DBN is expected imminently also believed that through the activities of the DBN, some of the problems currently discouraging the growth of the SMEs sector would be effectively tackled.

She stated that DBN would lend to microfinance banks, which will in turn develop specific products for specific markets at a lower interest rate than currently available to SMEs.

She stated that the Finance Ministry is in discussion with the Central Bank of Nigeria on the need to use the Development Bank as a vehicle for any of its subsequent SMEs intervention.

The Development Bank of Nigeria (DBN) is a wholesale financial institution, which aims to increase access to finance for Micro, Small and Medium Enterprises (MSMEs) through eligible financial intermediaries (“participating financial institutions”).

The DBN will have access to US$1.3bn (N396.5 billion), which will be provided by the World Bank (WB), KfW (German Development Bank), the African Development Bank (AfDB) and the Agence Française de Development (French Development Agency).

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U.S. Banks Plan $16.6bn Digital Transformation in 2015

Retail banks (including thrifts and credit unions) in the U.S. will spend nearly $16.6 billion on hardware, software, services, and internal IT staff in order to develop and implement digital transformation initiatives in 2015. And this spending on digital transformation will grow at an average CAGR of 10.4% into 2019, according to recent IDC Financial Insights spending models. This compares to an overall IT spend growth of 3.9% for U.S. banks. A new report from IDC Financial Insights, “The Cost of Digital Transformation in US Banking: The Critical Technology Investments in 2015 and Beyond,” outlines how much money is being invested by U.S. banks in digital transformation, where those investments are going, and where IDC Financial Insights believes the growth will be the strongest in digital transformation investment.

What Does A Blogger Want From A Bank? The PR Perspective

Modern society has been hugely impacted by the advent of the internet. The internet has truly become an essential component of varied socio-economic activities. The use of internet has brought fundamental change to the way businesses are coordinated and managed. Public Relation as a professional discipline is one major field that has been revolutionalised by the internet.

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Global Airlines Financial Monitor: July 2017

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