Money
4 days ago
Paystack, the Nigerian fintech company owned by Stripe, has launched Zap, a consumer app designed to facilitate fast and secure bank transfers within 30 seconds. The launch marks Paystack’s first major move into consumer payments after nearly a decade of focusing on merchant-based solutions. Speaking at the launch event held both in-person and virtually, Paystack…
11 Mar
The House of Representatives has directed the Central Bank of Nigeria (CBN) to suspend the implementation of an increase in ATM transaction charges. According to a new CBN policy, customers withdrawing from their banks' ATMs will continue to enjoy free withdrawals. However, a fee of N100 per N20,000 withdrawal will be applied to customers from…
8 Mar
LAPO Microfinance Bank (LAPO MfB) has reaffirmed its commitment to financial inclusion and small and medium-sized enterprise (SME) empowerment through a high-level engagement with the Premia Business Network (PBN) delegation in Lagos. The meeting, held at LAPO Place, brought together over 30 startup founders, senior executives, and key decision-makers from the financial services and fintech…
6 Mar
The central parity rate of the Chinese currency Renminbi, or the Yuan, strengthened 22 pips to 7.1692 against the dollar on Thursday. This is according to the China Foreign Exchange Trade System. The central parity rate of the Yuan against the dollar is based on a weighted average of prices offered by market makers before…
4 Mar
There are indications that the Central Bank of Nigeria (CBN) may appoint 16 new directors soon. It was gathered that the appointments may have received the go-ahead from the board of the apex bank. Those on the list include Abdullahi Hamisu, who is designated to man the Banking Services Department, while Ojomu Adenike Olubunmi is…
4 Mar
The International School of Deposit Insurance Studies (ISDIS), in collaboration with the University of Nigeria Business School (UNNBS), has unveiled a suite of specialized certification courses to address operational risks and skill gaps in the financial services industry. It also explained that the programs would provide a structured learning pathway for professionals seeking to enhance…
2 Mar
A new report by the Nigeria Inter-Bank Settlement System (NIBSS) has revealed that fraudsters exploited weaknesses in the banking system to steal over N1 billion using Bank Verification Numbers (BVNs) illegally registered for minors. The report revealed a growing trend of financial fraud, with compromised bank officials and agents facilitating the illegal registration of BVNs…
1 Mar
Prior to Nigeria’s independence in 1960, agriculture was the mainstay of its economy, even as reflected in the economic activities of the regions there were in the country at that time.
27 Feb
The Chairman of Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), Dr Mohammed Shehu, has called for urgent need to address dwindling allocations for sustainable revenue generation. Shehu also called for effective collaboration among relevant stakeholders for innovative revenue strategies to meet public service demands at all levels of government. He made the call on Wednesday…
20 Feb
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) on Thursday voted unanimously to retain the Monetary Policy Rate
17 Feb
The central parity rate of the Chinese currency renminbi, or the Yuan, strengthened four pips to 7.1702 against the dollar on Monday. This is according to the China Foreign Exchange Trade System. In China’s spot foreign exchange market, the Yuan is allowed to rise or fall by two per cent from the central parity rate…
30 Jan
The naira further appreciated at the official market on Wednesday, trading at N1,510.72 to a dollar. Data from the FMDQ Security Exchange official forex trading platform revealed that the local currency gained N11.96. This represented a 0.78 per cent gain, compared to the trading figure on Tuesday, when the naira closed trading at N1,522.68 to…
22 Jan
Nigeria's total public debt rose by 5.97 per cent, or N8.02 trillion, to N142.3 trillion as of September 30, 2024, the Debt Management Office (DMO) has said. Nigeria has been battling a rising debt profile, for which experts have expressed concern that the debt may not be sustainable. The DMO said the rise was driven…
14 hours ago
Chairperson, the Advisory Board of Women in Maritime and Energy, Dr Chizoba Anyika, says the 4th Women in Maritime and Energy Awards
14 hours ago
Two months to President Bola Ahmed Tinubu’s second anniversary in office, the economic indices of the country points to growth, thus validating Mr. President’s decision to remove petrol subsidy and also float the nation’s currency – the Naira.
14 hours ago
Scarcity of quality textbooks has been a long-standing challenge in Nigeria’s education sector. Many students and educators have had to rely on imported textbooks, which often fail to address local contexts and perspectives.
14 hours ago
The International Monetary Fund (IMF) has appointed Heirs Holdings Founder and Group Chair, Tony O. Elumelu, to its Advisory Council on Entrepreneurship and Growth, convened by IMF Managing Director, Kristalina Georgieva.
15 hours ago
Nigeria has been described as the largest market in Africa for United States of America wines, with estimated $7.8 million import into Nigeria from the US in 2024.
15 hours ago
The Federal Government has commended the African Development Bank (AfDB) for its pivotal role in driving Nigeria’s economic revitalisation.
15 hours ago
Ogun State government has signed a Memorandum of Understanding (MoU) with the Confederation of General Employers of Morocco (CGEM) on power generation and distribution, education, housing, infrastructure and port development.
15 hours ago
Sage Grey Finance Limited, a leading financial institution committed to creating impact through lending, investments, fund management and strategic advisory services, and its sister company, Sage Grey Technologies
16 hours ago
The Mastercard Foundation is proud to announce the launch of a new podcast that seeks to challenge, motivate, and inspire the next generation to lead with purpose and to act with courage.
1 day ago
Experts have stressed the need for a multimodal approach to logistics sector development, particularly the integration of inland waterways, as container port traffic is projected to reach 1.67 million twenty-foot equivalent units (TEUs) by 2025.