CBN’s minimum capital for MFBs: Impact on Nigeria’s financial inclusion drive

Here is why you should pick up a copy of The Guardian on Monday. Find these stories and much more when you grab a copy of The Guardian on the newsstands on Monday.

Prior to the Covid-19 pandemic the Central Bank of Nigeria planned to achieve 80 per cent financial inclusion across its formal and informal sectors by 2020. Managing Director and CEO, VFD Microfinance Bank, Zuby Emodi, joins CNBC Africa to discuss innovative banking and how Nigeria can achieve its set financial inclusion goals.

This month marks a year since the Central Bank of Nigeria introduced the Loan-To-Deposit-Ratio policy. Nigeria's apex bank says banks total credit rose to 3.1 trillion naira on the performance of the LDR policy. Muyiwa Oni, Regional Head, Equity Research at Standard Bank Group joins CNBC Africa for more.

This month marks a year since the Central Bank of Nigeria introduced the Loan-To-Deposit-Ratio policy. Nigeria's apex bank says banks total credit rose to 3.1 trillion naira on the performance of the LDR policy. Muyiwa Oni, Regional Head, Equity Research at Standard Bank Group joins CNBC Africa for more.

Damage from wide-spread flooding in China may have cost hundreds of millions of dollars. Hubei province, which was badly affected by the coronavirus outbreak, has seen some of the worst flooding around the Yangtze.

Three of the largest banks in the United States have dramatically increased their reserves to cover losses from unpaid loans. JP Morgan, Wells Fargo and Citigroup have together set aside $28 billion to cover bad debts in the three months from April to June. The lenders are expecting the damage from this crisis to be protracted, and unemployment in the US to remain over 10 percent until the end of the year, with knock-on effects on the repayment of loans from households and businesses.

The swearing-in ceremony for the newly re-elected President of the African Development Bank, Akinwumi Adesina has been concluded in Abidjan Cote div’oire. Chamberlain Peterside, CEO of Xcellon Capital Advisors joins CNBC Africa to examine Nigeria’s economic prospects and the role of development banks in building resilient economies on the continent.

Here is why you should pick up a copy of The Guardian on Thursday. Find these stories and much more when you grab a copy of The Guardian on the newsstands on Thursday.⁣⁣

The US has blacklisted key Iranian banks in a sweeping clampdown on country's financial sector. Iran's top diplomat Javad Zarif accused Washington of trying to "blow up our remaining channels to pay for food & medicine."

Hundreds of people pick up holiday meals at food banks in New York City days before Thanksgiving, as the US continues to battle high unemployment from the coronavirus-induced recession. US authorities have urged Americans not to travel for the holiday, with virus cases soaring soaring past 12 million confirmed cases in the world's worst-hit country.

Here are a few reasons to pick up a copy of The Guardian on Saturday. Find these stories and much more when you grab a copy of The Guardian on Saturday. ⁣

London-based artist Sean Rodrigo builds boxes shaped like miniature shops, aimed to be used as a relay for food banks. Placed in different areas of his borough, the boxes will allow people to donate cans of non perishable food that will then be collected by a charity.