20

May

The World Bank Plans To Spend $150 Billion In Africa

David Malpass, the President of the World Bank Group, has stated that the bank intends to spend $150 billion in Africa over the next five years in order to promote growth on the continent. Malpass made the announcement on Tuesday in Paris, France, at the Summit on Financing African Economies. Malpass reaffirmed the World Bank’s commitment to funding growth in Africa, noting that an additional $150 billion will be spent in Africa over the next five years, with the bank having invested around $200 billion in Africa over the last decade. “The World Bank Group has invested $200 billion in […]

19

May

BUA, PORTLAND LEAD MARKET LOSSERS’

Yesterday, the Nigerian Exchange Limited (NGX) extended its losing streak to two sessions as more blue-chip stocks, such as Portland Paints and Products and BUA Cement, declined, resulting in a 0.72 percent drop in the All-Share Index (ASI). The all-share index (ASI) fell by 283.95 points, or 0.72 percent, to close at 39,022.52, while the total market capitalization fell by N148 billion to N20.339 trillion. Price depreciation in large and medium capitalised stocks, such as BUA Cement, Portland Paints & Products Nigeria, SCOA Nigeria, FBN Holdings, and Zenith Bank, drove the market down. “We expect the performance at the local[…]

18

May

Six Lecture Halls Have Been Donated By CIBN To The Banking And Finance Faculties

The Chartered Institute of Bankers of Nigeria (CIBN) has given its approval to the construction of mini lecture halls in six Nigerian tertiary institutions’ banking and finance departments. This was revealed at the company’s 2021 annual general meeting, which took place over the weekend in Lagos. Dr. Bayo Olugbemi, President/Chairman of the Council of the CIBN, stated at the hybrid meeting that the planned 200-seat halls would be completely furnished with air conditioners and modern multi-media connectivity gadgets and donated as legacy projects of the institute. He said the Council had also approved the implementation of an internship scheme to[…]