Banking and Finance

SMEs: First Bank Offers Single Digit Lending Rate

The Small and Medium Enterprises (SMEs) are believed to be the engine room for the development of any economy because they form the bulk of business activities in a growing economy. However, lack of adequate credit for SMEs, traceable to high lending rate or the reluctance of banks to extend credit to them, has been identified as the major challenge hindering growth in the sector.

Why The Rising Business Failure In Nigeria?

There are many causalities of increasing failures of going concern in Nigeria.  The factors mostly canvassed are infrastructural shortcoming, institutional and structural challenges. The recent survey we conducted revealed that while the harsh operating conditions in the country may be a factor to untimely death of many businesses, one major bane of indigenous businesses and indeed some foreign ones is the absence of “Best Practice Corporate Governance.”

Corporate governance Lapses

Doing Business In Lagos: The Burden And The Reward

Eighty percent of registered businesses in Lagos, Nigeria, as at 2011, were not in existence 20years ago, this is according to officials of the Corporate Affairs Commissions (CAC). It therefore implies that in spite of the harsh operating environment, more people are still seeking investment opportunities in the country, especially in Lagos, the nation’s commercial capital and home to over 20million inhabitants.

Mergers and acquisitions: Bad for customers’ morale?

When a bank changes its name, it takes a while for the customers to get used to it. Those banking with Intercontinental Bank got the information about the change of status on the banks’ Automated Teller Machines (ATMs) that ‘their’ bank, Intercontinental Bank, is glad to be a subsidiary of Access Bank plc.

They have absolutely no say in the matter, regardless of how much was in their account or how long they have been customers of the bank.