Over 70 million bank customers are at risk of losing access to their accounts when the Central Bank of Nigeria’s directive on restricting accounts without Bank Verification Numbers and National Identification Numbers goes into effect. The CBN had on December 1, 2023, in a circular directed that a ‘Post no Debit’ restriction be placed on…
The Board of Directors of Lafarge Africa has proposed a dividend of N1.90 per unit of its shares for the year ended December 2023 amounting to N30.60bn. This was lower than the N32.22bn dividend it paid in the previous year. In a corporate notice filed with the Nigerian Exchange Limited on Thursday, the proposed dividend…
The naira appreciated marginally against the United States dollar to N1,609 on Wednesday at the official market from N1,615.94 recorded the previous day. This indicates an increase of N6 or 0.37 per cent. The slight improvement came on the heels of series of foreign exchange guidelines issued by the Central Bank of Nigeria in recent…
On Wednesday, the Financial Times reported that two senior executives of Binance had been detained in Nigeria.Sources with knowledge of the matter have confirmed that more cryptocurrency operators will be invited to expand their operations in Nigeria. The crackdown follows an earlier report by the Nigerian Financial Intelligence Unit (NFIU). According to the source, the…
“If we don’t clamp down on Binance, Binance will destroy the economy of this country. They just fix the rate,” a displeased Onanuga said on Channels Television’s Politics Today program on Wednesday. “We have saboteurs. Look at what Binance is doing to our economy. That is why the government moved against Binance. Some people sit…
Wema Bank has held its first physical Importer-Exporter Forum in Lagos to address issues impeding international trade in the country and proffer solutions tailored to facilitate seamless international trade operations. The forum themed ‘Building a Symbiotic Trade Ecosystem for Effective Trade Decisions’, was a gathering of importers, exporters, aspiring international traders and relevant regulatory bodies….
United Bank for Africa Plc has pledged to work with the Economic Community of West African States on implementing initiatives that will attract investment and sustainable development into the sub-region’s mining and oil sectors. According to a statement from the bank on Monday, the pledge was made at the just concluded fourth ECOWAS Mining and…
… Nigerian Affiliate wins Best FX Bank in the country Ecobank, the leading pan-African Banking Group, proudly announces that it has won the esteemed Best Bank for SMEs in Africa 2024 award in Global Finance’s annual SME Bank Awards. The win reflects Ecobank’s unwavering commitment to meeting the specialised needs of SMEs across its diverse…
In furtherance of its commitment to collect and recycle a bottle or can for each one introduced into the market for recycling or reuse by 2030, Nigerian Bottling Company Ltd recently inaugurated recycling banks in Lagos and Abuja. In a statement, the company noted that the neighbourhood-based recycling bank in Ifako-Ijaiye housing estate, Agege, was…
