What Is Annual Percentage Rate (APR)?Annual Percentage Rate (APR) is the yearly interest charged to borrowers or paid to investors. It represents the actual yearly cost of funds over the term of a loan or income earned on an investment. APR includes fees and additional costs associated with the tran
Introduction:The COVID-19 pandemic has had a profound impact on the global economy, leaving traders and investors grappling with uncertainty. In this article, we delve into the economic ramifications of the crisis and explore market strategies to help traders make informed decisions. By
TranscriptUdom Emmanuel took governorship of the Nigerian state Akwa Ibom in 2015. Since then he has transformed the southern coastal region from a civil service state into an attractive destination f...
Lagos, NigeriaBanking|Commercial bankingAuthor:Urum Kalu Eke, Group Managing Director, FBN HoldingsTop 5Top 5 forces that will shape international finance in 2023Top 5 female-fronted fintech firmsTop ...
Brunei’s central business districtBankingAuthor:Pierre Imhof, CEO of Baiduri BankTop 5Top 5 forces that will shape international finance in 2023Top 5 female-fronted fintech firmsTop 5 Latin American t...
The Bank of Industry (BOI) has emerged as a key player in the transformation and diversification of Nigeria’s economy. Through a variety of initiatives and programs, the BOI is helping to reshape the economic landscape of Nigeria.One of the primary ways the BOI is effecting change is through its pr
As a professional in the financial industry, I often encounter clients who are unfamiliar with standby letters of credit and their purpose. In this article, I will explain what a standby letter of credit is, its characteristics, and how to obtain one.What is a Standby Letter of Credit?A standb
A time deposit, commonly known as a certificate of deposit (CD), is a type of savings account offered by banks and financial institutions. It operates as a fixed-term deposit where you agree to keep a specific amount of money deposited for a predetermined period, known as the term or maturity period
Money and credit are two essential concepts in banking, as they determine how banks operate and how they affect the economy. Money is any item that is generally accepted as a medium of exchange, a unit of account, and a store of value. Credit is the ability to obtain goods or services before payment
