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Bureaux De Change Join CBN’s Battle Against Illegal FOREX Dealers
Amid desperate moves by the Central Bank of Nigeria to sanitise the forex market and halt the naira’s free fall, the Association of Bureaux De Change Operators of Nigeria says it has…
MTN Nigeria set to issue N89.99bn bond
MTN Nigeria Communications Plc is set to launch a Series 2 Bond of about N89.99bn. A mail sent from Chapel Hill Denham Advisory Limited to MTN investors and reported by…
BREAKING: CBN confirms investigation of Oniwinde Adedotun, abokiFX founder
Godwin Emefiele, governor of the Central Bank of Nigeria (CBN) has confirmed the investigation of Oniwinde Adedotun, the founder of abokiFX. On Thursday, TheCable reported that …
CBN maintains benchmark interest rate at 11.5%
The monetary policy committee of the Central Bank of Nigeria (CBN) has announced its decision to maintain the monetary policy rate (MPR), which measures interest rate, at 11.5…
CBN investigating Oniwinde Adedotun, abokiFX founder, for ‘illegal’ forex trading – Sources
The Central Bank of Nigeria (CBN) is investigating Oniwinde Adedotun, the founder of abokiFX, TheCable has learnt. Sources within the apex bank told TheCable on Thursday night that…
Tax Credit Scheme: Globalcom To Reconstruct 64 Km Ota-Idiroko Road
Nigeria largest indigenously-founded telecoms company, Globalcom will reconstruct 64 km Ota-Idiroko road in 2022, under Federal Government’s Tax Credit Scheme. This was…
Nigeria to join New York, Singapore, London as international financial hub
Nigeria is set to join a very small elite group of countries operating an international financial hub. The international financial centre will take in September 2022 when the Central…
South Korea Fines Google $177m For Abusing Smartphone Dominance
South Korea fined Alphabet Inc.’s Google $177 million (270billion won) for hampering the development of rivals to its Android operating system, sustaining a campaign targeting the U.S.…
VAT WAR: Anxiety Grips Business Owners As Date To File VAT Claims Inches Closer
There is palpable apprehension among corporate organisations in the manufacturing sector with less than 10 days to September 20, 2021 when companies are expected to commence…
‘Money transfer providers may lose $400m to bitcoin wallet’
El Salvador’s latest Bitcoin app, the Chivo Wallet, could ensure that money service providers such as Western Union and MoneyGram lose around $400m in remittance commission.…
Dangote Refinery partners Content Board on Oil Sector Research, Devt
Dangote Oil Refinery has thrown its weight behind the Nigerian Content Development and Monitoring Board (NCDMB) to promote the critical issue of Research and Development…
Sanction for forex defaulters takes off
The stage may be set for banks begin the ‘naming and shaming’ of customers who engage in foreign exchange (forex) malpractices. This is in line with the directive of the…
10,000 smallholder farmers in Nigeria to be empowered through the Value Seeds and Mastercard…
Value Seeds Limited, an indigenous crop seed production, solution, and development company, in collaboration with the Mastercard Foundation will empower 10,000 smallholder…
CBN denies planning to convert forex in dom accounts to naira — second time in two months
The Central Bank of Nigeria (CBN) says it is not planning to convert foreign exchange (FX) in the domiciliary accounts of customers into naira. Osita Nwanisobi, CBN…
NNPC Forecasts Over N300bn Profit in 2021
Few days after declaring a Profit After Tax (PAT) of N287 billion in its Audited Financial Statement (AFS) for 2020, the Nigerian National Petroleum Corporation (NNPC)…
Nigeria spends N601.51 billion on importation of vehicles in H1 2021
Nigeria spent a total of N601.51 billion on the importation of motor vehicles in the first half of the year. This is contained in the recently released foreign trade report…
Possibility Specialists Boss, Abraham Arrested Over ₦39 Million Alleged Fraud
The fears expressed by some investors that any ponzi scheme like company may be another scam waiting to happen, may have been confirmed following the arrest of the Chief…
Naira goes into the weekend bruised and battered by U.S. Dollar
The Naira went into the weekend bruised and battered by the U.S. Dollar and other major foreign currencies. Though its value remains unchanged at the CBN window, the Naira slumped further in…
Inside N15 billion turnover of Bamboo, Rise Vest, other fintech firms facing CBN probe
A court recently placed restrictions on the bank accounts of six online investment companies. Four of these companies recorded about N15 billion turnover in two and a half…
Don’t sell FX to customers not travelling abroad – EFCC warns banks
The Economic and Financial Crimes Commission (EFCC) has warned banks against selling foreign exchange (FX) to customers with no intention of travelling outside the country.…
FX market faces fresh test as naira hits all-time high at N543/$
• Hoarding intensifies while BDC operators run out of supply • Banks may resort to rent-seeking • No customer with genuine need has been turned back, CBN insists • ‘Proposed e-naira…
We Spend N100m Daily To Return Empty Containers — Importers
Members of the Association of Maritime Truck Owners (AMATO) have accused hooligans of fleecing importers of at least N100 million daily as they return empty containers to…
Reducing Customs Procedures Can Lift Nigeria, Others By $250 Billion – Osinbajo
Vice President Yemi Osinbajo has said that despite the monumental challenges posed by climate change, especially energy transition and related issues, the coming…
NCC has approved renewal of our operating licences for another 10 years, MTN
MTN Nigeria says the Nigerian Communications Commission (NCC) has approved its operating spectrum and licence for another ten years. The renewal would run from September 2021 to…