Posts tagged as: Nigeria

Jaiz Bank grows capital by 100% in a year, eyes national banking licence

Jaiz Bank grows capital by 100% in a year, eyes national banking licence

Jaiz Bank is now targeting a national license from the Central Bank of Nigeria (CBN) after having grown its capital base from N5 billion when it started operations last year to about N10 billion. The capital increase will enable the bank to apply for N…

Jaiz Bank Commences Forex Transactions

Jaiz Bank Commences Forex Transactions

Jaiz Bank Plc has joined other commercial banks in processing of foreign exchange transactions. This allows the bank to process forex transactions for eligible bureau de change (BDC) operators at the Central Bank of Nigeria (CBN). The bank will reporte…

Islamic Development Bank Group prepares an investment conference for Nigeria

Islamic Development Bank Group prepares an investment conference for Nigeria

<p>Dr. Mohammed Namadi Sambo, Vice President of the Federal Republic of Nigeria has received Dr. Ahmed Mohamed Ali, President of the IDB Group in Makkah Guest Palace. The discussion covered arrangements made for the implementation of number of projects approved by the Bank for Nigeria and the on-going efforts that aim at establishing a representation office in Nigeria. Discussion also touched on issues related to the IDB&rsquo;s role in supporting the Transformation Agenda Progamme in Nigeria. The Programme pursues growth in a number of sectors that include projects such as electricity transmission lines, regional and national road network, partnership between private and public sector in energy and supporting exports. The IDB President has offered to organize an investment conference in Nigeria early in 2014 similar to a conference organized by the IDB last year in Abuja. The Vice president of Nigeria welcomed this initiative.</p>
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<p><a href="http://abc.az/eng/news/main/75355.html" title="http://abc.az/eng/news/main/75355.html">http://abc.az/eng/news/main/75355.html</a></p>
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Jaiz Bank reiterates commitment to Ethical Banking Services

Jaiz Bank reiterates commitment to Ethical Banking Services

Nigerian Jaiz Bank PLC has reiterated a firm commitment to the provision of ethical banking services to its customers. The bank has unveiled its array of value adding products and services which it said are available to all irrespective of race or reli…

Groundwork laid for Nigeria's Islamic finance sector

Groundwork laid for Nigeria's Islamic finance sector

Nigeria is gradually opening up to Islamic finance, a move that could develop one of Africa's fastest-growing consumer and corporate banking sectors and establish the country as the African hub for Islamic finance. In recent months, a string of regulat…

Power: FG seeks $450m from Islamic Development Bank

Power: FG seeks $450m from Islamic Development Bank

<p>The Federal Government of Nigeria has sought the support of the Islamic Development Bank for the provision of about $450m to expand the power transmission system to wheel up to 20,000 megawatts of electricity. According to Vice-President Namadi Sambo, more funds need to be injected in the transmission component. Sambo also called on the bank to consider the construction of a road linking Lagos to Abidjan, the capital of C&ocirc;te d&rsquo;Ivoire. Moreover, he requested the IDB to extend its support to the Nigerian private sector in the areas of education, aviation and agriculture. IDB has already approved the construction of four new science secondary schools in Kaduna State worth $17,9m; construction of a 300-bed specialist hospital in Kaduna State at $43.15m; and the Zaria water supply project worth $81.0m. Furthermore, the$32.40m Jigawa State rural development project and the bilingual education programme for Borno, Gombe and Niger states worth $30.53m are under consideration.</p>
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<p><a href="http://www.punchng.com/business/business-economy/power-fg-seeks-450m-from-islamic-development-bank/" title="http://www.punchng.com/business/business-economy/power-fg-seeks-450m-from-islamic-development-bank/">http://www.punchng.com/business/business-economy/power-fg-seeks-450m-fro…</a></p>
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MICROCAPITAL BRIEF: Central Bank of Nigeria (CBN), Bill and Melinda Gates Foundation Create “Geospatial Mapping of Financial Institutions” Program to Reach Unbanked Nigerians

MICROCAPITAL BRIEF: Central Bank of Nigeria (CBN), Bill and Melinda Gates Foundation Create “Geospatial Mapping of Financial Institutions” Program to Reach Unbanked Nigerians

<p>The Central Bank of Nigeria (CBN) reportedly has partnered with the Bill and Melinda Gates Foundation (BMGF) to form a new initiative called &ldquo;Geospatial Mapping of Financial Institutions&rdquo; that aims to increase the financial inclusion of low-income Nigerians. The new service will map all financial access points in Nigeria, including every microfinance institution and off-site ATMs, that Nigerians will be able to see online or on their mobile phones. The program reportedly will also enable the government and banks to determine whether certain regions of the country lack access to an appropriate number of financial services. BMGF will provide a monetary grant of an unspecified amount in order to pursue this goal. This new project is part of CBN&rsquo;s initiative, the Nigeria Financial Inclusion Strategy (NFIS). The amount of monetary support that CBN has contributed to NFIS is unavailable.</p>
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<p><a href="http://www.microcapital.org/microcapital-brief-central-bank-of-nigeria-cbn-bill-and-melinda-gates-foundation-create-geospatial-mapping-of-financial-institutions-program-to-reach-unbanked-nigerians/" title="http://www.microcapital.org/microcapital-brief-central-bank-of-nigeria-cbn-bill-and-melinda-gates-foundation-create-geospatial-mapping-of-financial-institutions-program-to-reach-unbanked-nigerians/">http://www.microcapital.org/microcapital-brief-central-bank-of-nigeria-c…</a></p>
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Jaiz Bank Donates Relief Materials To Boko Haram Victims

Jaiz Bank Donates Relief Materials To Boko Haram Victims

Jaiz Bank yesterday donated relief materials to the Governor of Borno State for onward distribution to victims of the Boko Haram insurgency. While presenting the items, Dr. Abdulmutallab expressed his sympathy with the people of the state over their tr…

Nigeria planning to raise a sukuk bond worth $62 million

Nigeria planning to raise a sukuk bond worth $62 million

<p>The Osun State government in southwestern Nigeria is planning to raise a sukuk bond worth 10 billion Nigerian nairas (some $62 million) from the capital market to fund infrastructural development. The state is awaiting final approval from the Security and Exchange Commission (SEC). The seven-year bond would be issued through a book-building process, which would earn returns for sukuk holders through a semi-annually paid rent structure called the Ijara. A local credit ratings agency, Agusto and Co, has given the note &ndash; to be listed on the Nigerian Stock Exchange &ndash; an A rating. The move as part of a 60 billion naira debt-raising program by Osun State, which started last year. The funds will be used to finance construction of education projects, among other development initiatives.</p>
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<p><a href="http://www.worldbulletin.net/?aType=haber&amp;ArticleID=113558" title="http://www.worldbulletin.net/?aType=haber&amp;ArticleID=113558">http://www.worldbulletin.net/?aType=haber&amp;ArticleID=113558</a></p>
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Jaiz Bank Increases Branches To 10

Jaiz Bank Increases Branches To 10

Nigerian Jaiz Bank has increased its branch network to ten, with the commissioning of its Katsina branch. The bank commenced operations with three branches in Abuja, Kaduna and Kano states on January 6, 2012, after it received licence from the Central …

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