Money
29 Aug
On Thursday, African-founded cryptocurrency exchange, Quidax announced that it has become the first crypto exchange to receive a provisional operating license by Nigeria’s Securities and Exchange Commission (SEC) as a Digital Assets Exchange. The license which was presented by the Securities and Exchange Commission grants Quidax the permission to operate as a registered crypto exchange…
27 Aug
LAPO Microfinance Bank Limited has announced the appointment of Angela Eneze Omeiza as an Independent Non-Executive Director, effective July 17, 2024. LAPO, in a statement on Tuesday, August 27, 2024, said Omeiza brings a wealth of experience and expertise to the Board, further strengthening the bank's commitment to excellence in Governance and Social Responsibility. Ms…
21 Aug
Fidelity Bank PHOTO: Google Earth/Streetview The National Data Protection Commission (NDPC) has fined Fidelity Bank Plc a total of N555.8m for breaching its customers’ data. The commission’s National Commissioner, Vincent Olatunji, said this at the Validation Workshop on the Nigeria Data Protection Act General Application and Implementation Directive on Wednesday in Abuja. Olatunji said the…
20 Aug
A policy analyst, Arabinrin Aderonke, has offered insight into how the Chairman of the Federal Inland Revenue Service (FIRS), Dr. Zacch Adedeji, is boosting confidence in the cryptocurrency market in the country. In a piece titled "Zacch Adedeji: Bringing Sanity Through Regulation to Crypto World," Aderonke remarked that cryptocurrency has become a major financial phenomenon…
20 Aug
Payments giant Flutterwave has announced it will allow Nigerian merchants to receive payments from American Express card customers as the credit card provider continues its push into Africa. In 2023, American Express cards were launched in Nigeria through a partnership with Access Bank, and by May 2024, AMEX had launched four new credit cards in…
20 Aug
The Central Bank of Nigeria (CBN) has reported a significant increase in remittance inflows, reaching $553 million in July 2024., a figure which indicates a 130 percent rise compared to the previous year, 2023. The figure represents the highest monthly total inflows on record, demonstrating the ongoing efforts by the CBN to enhance liquidity in…
19 Aug
Renowned cleric and founder of Kingsway International Christian Centre, Pastor Matthew Ashimolowo, has disclosed a significant financial los
18 Aug
Vice Chancellor of Igbinedion University Okada (IUO), Prof. Lawrence Ezemonye, on Sunday, assured that the upgraded Okada Microfinance Bank, situated in Okada, Ovia North East Local Government Council of Edo State, will commence operations tomorrow, Monday. The Vice-Chancellor also noted that the reopening of the bank will boost small businesses in the university community and…
15 Aug
Deposit Money Bank, Guaranty Trust Bank (GTB) has provided clarity as regards alleged breach of its domain. Recall that since yesterday, customers of the bank have had difficulties in carrying out financial transactions via the bank channels. Report has it that hackers hacked into the domain of the bank and that has caused serious breach,…
7 Aug
Veritas Kapital Assurance Plc has recorded a profit after tax of N4.91 billion for the half year ended June 30, 2024. This represents an increase of 630 per cent compared to the N672.4 million recorded in the corresponding period of 2023. Dr Adaobi Nwakuche, Managing the Director of Veritas Kapital, revealed this in the half-year…
6 Aug
The Central Bank of Nigeria (CBN) has granted approval for the proposed merger between Unity Bank Plc and Providus Bank Limited. CBN’s spokesperson, Sidi Ali Hakama, disclosed this in a statement on Tuesday evening. READ ALSO:EXPLAINER! Fitch Ratings: Is Dangote Industries going bankrupt? Hakama said this strategic move is designed to bolster the stability of…
6 Aug
The Nigerian Exchange Limited (NGX) is experiencing more pressure, as investors continue to face uncertainty about investing and trading in the country. This is a result of the global market decline. This crisis has led to a N93bn loss in market capitalization which now stands at N55.40tn. The All-Share Index fell to 97,582.41 points, down…
1 day ago
Some commercial banks inefficient operations of late have been identified as a major setback to cargo clearance at the seaports, especially on the platform of B’Odugwu digital system recently introduced by the Nigeria Customs Service (NCS).
1 day ago
FG flags off Abia Airport construction on Tuesday, says Kalu From Adamu Abuh, Abuja The flag-off of the construction of the Abia Airport would be held on Tuesday, according to the Deputy Speaker of the House of Representatives, Rt Hon. Benjamin Kalu. Kalu said that the Abia Airport project is a testament to the Federal…
1 day ago
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has renewed its commitment to tackling corruption in the upstream petroleum sector. The Chief Executive, NUPRC, Gbenga Komolafe, who disclosed this at the celebration of International Anti-Corruption Day
1 day ago
Schneider Electric has been awarded Employer of the Year in the Energy and Utilities Sector by the Nigeria Employers’ Consultative Association (NECA). The company was recognized at the 4th edition of the Annual Employers Excellence Award ceremony in Lagos.
1 day ago
Access Bank Plc has entered into a binding agreement with South Africa-based Bidvest Group Limited for the acquisition of a 100 per cent equity stake in Bidvest Bank Limited.
1 day ago
Project Management Institute (PMI) has celebrated 50 exceptional rising leaders transforming the world by leveraging their project management skills to tackle today's most pressing challenges. As shown on the 2024 Future 50 list
1 day ago
Recognizing the glaring gap in global conversations, where African brands are often sidelined and undervalued, two visionary brothers based in Nigeria and the United States respectively, have taken the initiative of bridging that gap with the launch of Reuben&Samuel
1 day ago
The Nigeria Customs Service (NCS) Oil and Gas Free Trade Zone Command has reiterated its commitment to facilitating trade and ensuring regulatory compliance in Nigeria’s oil and gas sector.
2 days ago
The country’s economy as well as its ability to attract and retain foreign direct investments (FDIs) in the coming year will depend on the sustainability of the current reforms, analysts at Cordros Securities Limited have said.
2 days ago
Inflation and fundraising challenges have been listed as major challenges stressing startups in Nigeria and Egypt.