The currency of any independent country which is the legal tender symbolizes its nationhood. That is what the Naira and Kobo mean to Nigeria. But over the years, they have been subjected to different forms of abuses including mutilations, defacing and even outright sale in open markets. Often times, the currencies-Naira notes and coins-are conspicuously displayed for sale in such unholy places as motor parks, party venues, event centres etc.

There are strong indications that two banks, who are creditors to Vono Nigeria Plc,  have  forced the furniture and foam giant into accessing funds from the nation’s capital market to avoid the wrath of the banks that are eager to have money back.

Mr. Philips Oduoza, group-managing director, United Bank for Africa (UBA), has said that it is impossible for banks to lend at single digit interest rates considering the enormous challenges facing them, especially as regards provision of infrastructure. Oduoza said inadequate power supply has "turned UBA into a mini power plant" in the light of financial resources and equipment deployed by the bank to have regular power supply.

As much as N30 billion may have been paid by banks through their Automated Teller Machines (ATMs) within the first four days of the protests over the removal of fuel subsidy by the federal government, BusinessWorld Intelligence can now reveal.

The Central Bank of Nigeria (CBN) in its effort to include all strata of the population in the financial sector has said that promotion of Microfinance is a vital strategy. This strategy of financial inclusion or inclusive financing according to Wikipedia, 2011 is the delivery of financial services at affordable costs to sections of disadvantaged and segments of low income of the society.

The Central Bank of Nigeria (CBN) has concluded the initiative to implement the electronic payment of government suppliers, all forms of taxes, salaries and pension in Nigeria.

There are strong indications that the number of banks operating in the country may be reduced to one digit in the next few years as a new wave of mergers and acquisitions have been envisaged by experts as necessary response to the imminent glut in deposit and unexpected distress.

The Nigeria Deposit Insurance Corporation (NDIC) is proposing to include the stock market in its coverage as a way of restoring confidence in the capital market and to protect small investors.