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CBN warns against card discrimination
The Central Bank of Nigeria has warned banks, switching companies, and other relevant parties in the Nigerian payment system against discrimination between payment cards issued by…
Elon Musk Briefly Loses Top Spot On Forbes Billionaire List
Tesla owner Elon Musk briefly lost the top spot on Forbes’ billionaire list Wednesday to Bernard Arnault, whose family owns the world’s leading luxury group, LVMH. With US tech stocks sliding as…
Senate moves to reduce FG’s power to waive taxes
“Such requests and applications for parliamentary approval shall stipulate clear conditions and justification for granting tax waivers and investment incentives,” it said. Senator Abdullahi,…
CBN’s Cash Withdrawal Restriction Will Have Unintended Consequences, Analysts Say
Analysts have said that the newly revised…
Foreign Airlines’ Blocked Fund In Nigeria Hits $550m, $1.1bn In Africa
The Vice-President, International Air Transport Association (IATA), Mr Kamil Ala Wadhi, has disclosed that international airlines’ funds in Nigeria have risen to $550 million while the total…
Med-View Kicks As Bank Seals Property In Lagos
Policemen yesterday sealed the headquarters of Med-View Airline PLC in Lagos and took over the premises. The team went to enforce an order secured by one of the airline’s bankers, First Bank…
Buhari Re-Appoints Ahmad, Adamu As CBN Deputy Governors
President Muhammadu Buhari has re-appointed Mrs Aishah Ahmad and Mr Edward Lametek Adamu as deputy governors of the Central Bank of Nigeria (CBN). Ahmad and Adamu were first appointed as CBN…
Nigeria’s foreign trade declines by N1.24tn
Nigeria’s total merchandise trade fell by N1.24tn, from N12.84tn in the second quarter…
The Eleven Banks That Made N714.61B From Transaction Charges In The First Nine Months of 2022
1. UBA: N138.08B2. Access bank: N133.49B3. Zenith Bank: N117.90B4. First Bank: N110.84B.5. Stanbic IBTC: N72.47B6. GTCO: N66.94B7. Fidelity: N25.04B8. Sterling: N19.84B9. Union: N12.65B10. Wema Bank:…
DMO raises N130bn from Sukuk for roads
The Debt Management Office has said it raised N130bn from its N100bn Ijarah Sukuk bonds, which were issued on November 21, 2022. In a statement on its website on Monday, the DMO said that it recorded…
Nigeria’s telecoms subscribers hit 214 million
The number of active telecommunication subscribers hit 214.35 million in October, according to new industry statistics from the Nigerian Communications Commission. This is the highest number of…
Bauchi, Gombe fight over new oil wells
•Four oil wells are in Gombe, boundary commission hypocritical, says gov’s special adviser •Kolmani is in Gombe, late NNPC GMD misled Buhari, N’Delta scenario looms – Residents •Matter taking…
FG earned $500 million from 5G spectrum auction – Pantami
Minister of Communications and Digital Economy, Ali Pantami, said the federal government has generated over $500 million from the 5G spectrum licence auction. Mr Pantami stated this at a news…
World Bank estimates $20.9 billion in remittance inflow for Nigeria in 2022
Foreign remittance into Nigeria is estimated to hit $20.9 billion by the end of 2022, compared to $19.5 billion in remittances inflow recorded in 2021. This represents a 7.5% rise from the prior…
Geregu Power in discussion with FEDA for share acquisition
Geregu Power Plc said the Fund for Export Development in Africa (FEDA) has expressed interest in acquiring a portion of its shares and that discussions are ongoing. This was…
Pension assets hit N14.6trn as 84,000 micro-pensioners enrolled
Nigeria’s pension assets under management by Pension Fund…
Billionaire Aliko Dangote became $1.5 billion richer in November
Africa’s richest man saw an increase of $1.5 billion in his net worth last month, after a whopping $200 million in October. His net worth is currently $19.1 billion, which makes him the…