Page 19 - நைஜீரியா வைப்பு காப்பீடு நிறுவனம் News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Breaking News | Investors, depositors battle inflation with high yield assets

Views: Visits 10 The Central Bank of Nigeria (CBN) has for six years missed its six to nine per cent single digit inflation rate target. At 14.89 per cent in November, which is 32-month high, inflation upswing has not only eroded savings account depositors’ interest income but triggered new wave of investments in alternative assets. Mutual Funds, Eurobonds and commodities markets are new choices for investors and savings account depositors seeking higher yields to protect their funds from inflation-induced capital erosion. Foreign investors are also buoyed by higher returns in Nigeria which remains an incentive for sustained capital inflows. With Nigerian Treasury Bills (T-bills) yield now below one per cent per annum, savvy fund managers, savers and investors need to work smarter to beat rising inflation with higher good returns on investments, writes

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Breaking News | Operatives urge regulatory measures to stimulate mortgage sub-sector

Views: Visits 15 Mortgage operators have appealed for regulatory-induced fiscal and monetary measures that would stimulate the sub-sector towards sustainable development. They also implored the Central Bank of Nigeria (CBN) to fast-track implementation of the Mortgage Interest Draw-Back Programme (MIDP), together with other policy measures that would moderate the cost of funds to single digit, on a consistent and sustainable basis. The operators, under the aegis of the Mortgage Banking Association of Nigeria (MBAN), made the call in a seven-page communiqué after its Chief Executive Officers (CEOs) retreat in Lagos. The association plans to engage the CBN on specific modalities required to facilitate policy implementation, monitoring and impact assessment.

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Daily Trust - NDIC verifies depositors of 42 failed MFBs

According to the NDIC, the CBN had revoked the operating licences of the failed MFBs since November 12, 2020. It said the corporation as the official liquidator of the banks commenced the process of closure and payment of insured sums to verified depositors of the banks. Thus, the corporation has requested all depositors of the closed banks to visit the respective banks’ addresses from Monday to Thursday where NDIC officials would be on ground to verify their claims. The corporation requested eligible depositors to visit the banks’ locations with proof of account ownership such as passbook and cheque book as well as valid means of identification to enhance their verification.

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NDIC begins verification of depositors in failed Microfinance Banks -

MONEY MARKET The Nigeria Deposit Insurance Corporation (NDIC) has commenced the closure of 42 Microfinance Banks (MFBs) whose operating licences were recently revoked by the Central Bank of Nigeria (CBN) with verification of their respective depositors. This was disclosed in a statement signed by the Director, Claims Resolution Department of the Corporation, Mrs. Nurat Ajigbewu. According to the NDIC, the CBN revoked the operating licences of the failed MFBs with effect from Thursday 12th November, 2020. Consequently, the Corporation as the official liquidator of the banks commenced the process of closure and payment of insured sums to verified depositors of the banks.

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NDIC begins verification of 42 failed MfBs depositors - Latest Nigeria News, Nigerian Newspapers, Politics

NDIC begins verification of 42 failed MfBs depositors - Latest Nigeria News, Nigerian Newspapers, Politics
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