NDIC Seeks Exemption from 50% Cost-to-Income Policy
By Oluwakemi Kindness The Nigeria Deposit Insurance Corporation (NDIC) says it is seeking an exemption from the Federal Government’s 50 per cent cost-to-income ratio policy. The NDIC cited its impact on the Corporation’s ability to build a strong Deposit Insurance Fund and respond effectively to bank failures. The Managing Director and Chief Executive of NDIC, […]
NEXIM Bank Secures BBB+ Rating, Doubles Profit to ₦30.47bn
By Oluwkemi Kindness The Nigerian Export-Import Bank (NEXIM) has earned a “BBB+” credit rating from Agusto & Co., confirming its strong financial position and ability to meet obligations among Nigeria’s development finance institutions. According to reports, in 2024, NEXIM posted an operating profit of ₦30.47 billion, more than double the ₦13.75 billion recorded in 2023. […]
NSIA Hands Over 90 Revitalised Fertiliser Blending Plants to MOFI
By Oluwakemi Kindness The Nigeria Sovereign Investment Authority (NSIA) has formally handed over 90 fully operational fertiliser blending plants to the Ministry of Finance Incorporated (MOFI) This marks the successful transition of the Presidential Fertiliser Initiative (PFI) after nearly a decade of unprecedented growth in Nigeria’s agricultural input sector. When the Federal Government launched the […]
FG Launches ₦250bn MOFI Real Estate Fund
By Oluwakemi Kindness The Federal Government has taken a significant step towards addressing Nigeria’s Housing Finance Gap with the launch of the Ministry of Finance Incorporated (MOFI) Real Estate Investment Fund (MREIF). The fund, a two hundred and fifty billion naira initiative is designed to provide low-cost, long-term mortgage financing and stimulate economic growth through […]