Browsing Category
Business
External reserves fell by $3.43bn in 2022 – Report
Nigeria’s external reserves fell by $3.43bn in 2022, according to figures obtained from the Central Bank of Nigeria. The CBN disclosed in its movement on external reserves figures that the reserves…
Motorists reject new vehicle insurance fees, accuse NAICOM of ‘legalised robbery’
The Insurance Consumers Association of Nigeria (INSCAN) has called on the National Insurance Commission (NAICOM) to reverse its directive on increasing third-party motor insurance premiums in Nigeria.…
‘17.877m barrels of crude oil exported without records’ – Auditor-General
Fresh details of the monumental sleaze in the oil sector show that over 17.877 million barrels of crude were exported between 2016 and 2020 without proper documentation. The quantity which is…
Senate urges CBN to forfeit N180 billion loans disbursed via NIRSAL MFB
The Senate ad hoc committee investigating…
WEMA Bank Plc Announces CEO Retirement and Appointment of new MD/CEO
Managing Director/CEO Ademola Adebise to retire from Wema Bank…
Godwin Emefiele to seek asylum in UK as SSS intensifies threats ahead of January 9 vacation deadline
Governor Godwin Emefiele of the Central Bank of Nigeria has concluded plans to seek refugee status in the United Kingdom over developing threats to his position and personal safety from the…
PoS transactions hit N759b in November as agents decry cash rationing by banks
Financial transactions…
Banks stop naira cards for online, PoS transactions abroad
Banks have announced stoppage of use of naira…
Geregu Power Suffers 61% Revenue Loss In Q3 On Gas Supply Constraints
Geregu Power Plc, the newcomer on the Nigerian Exchange Group’s listing, lost N8.2 billion or 61 percent of revenue in its third quarter operations that ended September 2022.…
Cashless Policy: CBN lists next moves
…as new policy begins to count gains Amidst early gains from the recently launched twin policy on cashless economy, the Central Bank of Nigeria, CBN, has kick-started some key steps towards…
Afenifere Faults 200% Hike in Insurance Fee
The pan-Yoruba socio-political organization, Afenifere, has called on the National Insurance Commission (NAICOM) to rethink its proposed plan to increase the minimum insurance cover from N5,000 to…
Naira appreciates to N740/$ at parallel market as FX demand slows
The naira, on Wednesday morning, appreciated…
Customers lament poor circulation of new banknotes
Bank customers have lamented continued lack of the redesigned…
Bernard Arnault becomes world’s richest man, topples Elon Musk
Bernard Arnault, the CEO and chair of LVMH (Moët Hennessy Louis Vuitton) is now the world’s richest man after toppling Tesla’s founder, Elon Musk. According to Forbes Real Time ranking of the…
USSD: Telcos Threaten to Disconnect Banks’ Subscribers as Debts Rise to N80bn
The accumulated debt from the Unstructured Supplementary Service Data (USSD) banks are owing the telecommunication companies (telcos) has risen to N80 billion as at November this year.…
Terrorism financing: Emefiele should defend himself – Group insists
The South South Reawakening Group (SSRG) on Tuesday insisted that the Governor of Central Bank of Nigeria (CBN), Mr Godwin Emefiele should defend himself against terrorism financing allegations made…
Banks’ Assets Total Up 21.58% to N69.67trn in Q3 2022
The Central Bank of Nigeria (CBN) has revealed that banks’ total assets in…