Nigeria’s Banks Lending Rate To Customers Hits 29.13% 

Nigeria’s Banks Lending Rate To Customers Hits 29.13% 

The maximum lending rate in the banking sector hit 29.13 percent while savings deposit rates were 4.13 percent as of the end of December 2022.
The report from the Central Bank shows that the prime lending rate was 13.85 percent, while the interbank call rate was 12 percent.
The Treasury bill rate was 4.35 percent, the one-month deposit rate was 8.15 percent, three months deposit rate was 3.79 percent, six months deposit rate was 8.68 percent, while 12 months deposit rate was 8.22 percent.
The National Institute of Credit Administration stated in its report blueprint report for the growth, development, and sustainability of micro, small, and medium-size enterprise sector in Nigeria that there was a need to support businesses with single-digit loans as high-interest rates was affecting economic growth.

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Elon Musk Calls for Pause in AI Development 

Elon Musk Calls for Pause in AI Development 

Tesla CEO, Elon Musk, has joined several others in calling for the temporary halt of Artificial Intelligence experimentation. An Open Letter,” 1,332 signatories, including Musk, and Apple’s co-founder...

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Charles III To Address German Parliament in State Visit 

Charles III To Address German Parliament in State Visit 

Britain’s Charles III will address the German parliament on Thursday, becoming the first monarch to do so, on the occasion of his inaugural state visit as king. Germany marks the first trip abroad for...

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US Raises Visa Fees For Students, Visitors 

US Raises Visa Fees For Students, Visitors 

The United States has announced hikes in fees for certain Non-Immigrant Visa application processing fees. The increment, published in the Federal Register on March 28, 2023, will be effective from May...

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South Sudan Leader Appoints New Defence Minister 

South Sudan Leader Appoints New Defence Minister 

South Sudan’s President Salva Kiir has appointed a new defence minister replacing Angelina Teny, who he sacked earlier this month. The appointment of Gen Chol Thon Balok has announced in a presidentia...

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Nigeria's Institute of Credit Administration inaugurates Governance Committees 

Nigeria's Institute of Credit Administration inaugurates Governance Committees 

The President of the National Institute of Credit Administration, Mr Andy Ojei, has announced the inauguration of committees set up by the governing council of the institute. A statement said that dur...

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Nigeria Government Begins Registration of Medical Laboratories 

Nigeria Government Begins Registration of Medical Laboratories 

The Federal Government began an online registration of medical laboratories in Nigeria to enhance service delivery. Dr Tosan Erhabor, the Registrar of the Medical Laboratory Science Council of Nigeria...

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Dangote Industries Completes N200bn Bond Listing 

Dangote Industries Completes N200bn Bond Listing 

Dangote Industries has completed its listing of the firm’s N200bn series 1 and 2 Bonds on Nigerian Exchange Limited. The Chief Executive Officer, Dangote Industries Limited, Mr Olakunle Alake, speakin...

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Utah To Limit Teen social media Access 

Utah To Limit Teen social media Access 

Utah has become the first US state to require social media firms get parental consent for children to use their apps and verify users are at least 18. The governor says he signed the two sweeping meas...

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