News of the finance

The financial services industry is constantly evolving and transforming, embracing new technology that helps achieve higher levels of customer service. The traditions of the past are making way for new networked applications, Internet-based services, customer relationship management (CRM), consolidated voice/data networks, smart cards, video banking centers, and new delivery channels. "Technology is an ...

SAN JOSE, Calif., October 30, 2006 - Highlighting its commitment to help transform the way business is done, Cisco® today announced it is experiencing strong momentum in the financial services market with its Smart Business Communications platform. The Smart Business Communications platform streamlines the customer's business process, improving productivity, reducing total cost of ownership, and enhancing the customer experience with innovative voice, video, data and mobility solutions ...

The Governor of the Central Bank of Nigeria, Prof Chukwuma C. Soludo, CFR, on the 10th of May 2007 spoke on the Obasanjo Legacy and the Challenge ahead at the Nigeria Development Forum. His paper titled "From a Pariah, Failed State to an Emerging Market Economy: The Obasanjo Legacy and the Challenge Ahead"

The Governor of the Central Bank of Nigeria, Professor Charles Soludo, will, beginning from 9th November 2006, continue his campaign across the world on Nigeria's economic reform as he addresses conferences in Nairobi, Kenya, and the University of Pennsylvania, Philadelphia, United States, where he will be the keynote speaker at the 2006 Wharton African Business Forum of the University. Click here for more.

The Governor, Central Bank of Nigeria, Professor Charles C. Soludo said that given the recent banking sector consolidation and the attendant size of the new banks, corporate governance has become a big issue among operators in the Nigerian financial system. The Governor who was represented by the Deputy Governor (Operations), Dr. Shamsuddeen Usman stated this while declaring open the 3rd Conference of Regulators and External Auditors of Financial Institutions in Nigeria.

The Governor, Central Bank of Nigeria (CBN), Prof. Charles C. Soludo has once more reiterated the need to refocus on price stability as the pre-eminent function of the CBN, more so given the recent massive consolidation of the
banking sector. The Governor made this known at the 11th Monetary Policy Forum, which took place at the Corporate Headquarters, Abuja. According to him, the era when the CBN was overwhelmed by regulatory and supervisory functions
was over, noting that such roles are only tangential. Prof. Soludo explained that low and stable inflation, in addition to a robust financial system are essential ingredients for the conduct effective monetary policy. He noted that in an economy where more that 70% of the loan able funds with deposit money banks are made up of short term fund ranging
tenor from 30 to 90 days tenure; banks will be unwilling to fund long term investment. For more on the Forum, see past event

Some top management staff of Reserve Bank of Zimbabwe(RBZ) led by its Deputy Governor, Licencing, Supervision and Surveillance Division, Dr. Charity L. Dhilwayo are on a study visit to the CBN between 9-30/10/2006 to learn from our experience in the areas of banking consolidation, Supervision and failed banks management. The picture (inset) shows Mr. Tunde Lemo, the CBN DG (FSS), Mr. O. I. Imala, the DBS and other staff of the Banking Supervision Dept, and the visiting DG and her Management team from the RBZ.

The President, Chief Olusegun Obasanjo has commended the Governor, Board and Management of the Central Bank of Nigeria (CBN), for taking the services of Central Banking closer to economic agents in all parts of the Federation. President Obasanjo stated this over the weekend while performing the foundation laying ceremony of the CBN branch building at Awka, Anambra State. He further expressed joy that with the establishment of Awka Branch of CBN, services such as Agricultural Credit Guarantee Scheme (ACGS) and Microfinance services will be of immense benefits to a mercantile State like Anambra with high concentration of small and medium enterprises. This development, according to President Obasanjo would go along way to provide employment and promote economic growth, thereby reducing poverty among the citizens.

SAN JOSE, Calif., October 16, 2006 - As part of its ongoing efforts to help drive channel partner revenue growth through differentiation, Cisco Systems® today introduced the Cisco Vertical Select Program. The program is designed to help accelerate the growth of a channel partner's vertical business while providing mutual customers with access to channel partners that understand specific vertical market needs. Eligible channel partners will be provided with sales, training and marketing ...

The Investment Committee of the Central Bank of Nigeria (CBN) at its meeting of 3rd October, 2006 appointed external fund managers for our foreign reserves in order to allow for professional management, diversification of investment and to leverage on the expertise of the foreign banks to transform Nigerian banks into global financial institutions. See Details