THE Central Bank of Nigeria (CBN) has dismissed as baseless, reports that the old N200, N500, and N1,000 banknotes will cease to be legal tender on December 31, 2024. The apex bank, in a statement endorsed by the Acting Director of Corporate Communications, Mrs. Sidi Ali, dismissed the suggestion, describing it as false and intended…
Nigeria’s Minister of Communications, Innovation, and Digital Economy, Bosun Tijani, said the World Bank has provided a significant boost to Nigeria’s efforts to deploy 90,000 km of fibre across the country. The minister confirmed this in a post to his X account. While the specifics of the support—whether financial or otherwise—were not released, Tijani previously…
After eight grueling months’ detention in Nigeria and court delays, Binance’s head of financial crime compliance, Tigran Gambaryan, has been let go and is heading home for medical treatment. Gambaryan, a Binance executive initially charged with tax and money laundering charges in Nigeria, has left the country after eight months in detention. In a statement,…
No fewer than three corpses have been recovered in a helicopter crash engaged by Nigeria’s state-run oil company, Nigerian National Petroleum Corporation Limited (NNPCL) while efforts are in top gears to recover rescue five others involved in the mishap. A statement endorsed by Chief Corporate Communications Officer at NNPC Ltd, the Olufemi Soneye, explained that…
Traction Apps, a fintech startup, will lay off some employees following its recent acquisition by OmniRetail, the startup confirmed in a statement, noting that the decision was partially motivated by the acquisition. “Following the acquisition of Traction Apps, as with all mergers and integrations, we are optimising certain departments to align with our broader vision….
The recent increase in the price of fuel has led to a rise in the cost of food items, causing hardship for Nigerians. This was the response of some sellers and consumers of food items in the Federal Capital Territory (FCT) who spoke to the News Agency of Nigeria on Wednesday in Abuja. NAN reports…
Chairman, Nigerian Insurance Association (NIA), Mr Kunle Ahmed, ha said the recent rise in Foreign Direct Investment (FDI) in Nigeria indicates renewed interest in the nation’s insurance sector. Ahmed, who emerged as the 26th Chairman of the NIA, said this at his re-investiture media parley in Lagos. The News Agency of Nigeria (NAN) reports that…
The National Bureau of Statistics (NBS) said Nigerians spend an average N10,239.7 monthly on buying home cooking fuel, liquefied petroleum gas (LPG). Its report entitled: “Nigeria Residential Energy Demand-Side Survey (NREDSS), 2024, launched in Abuja by the Statistician-General of the Federation Adeyemi Adeniran, also said 19.4 per cent of households reported using LPG during the…
Chairman of Heirs Holdings Group, Tony Elumelu, has identified finance and energy pillars that are crucial to Nigeria’s lasting prosperity. Speaking during the third Anniversary of Nigerian Upstream Petroleum Regulatory Commission (NUPRC) in Abuja, he lauded the transformative and bold initiative of NPRC’s Project 1 million barrel of oil (mbopd) initiative, and its impact on…
