Nigeria’s apex bank has advised Nigerians in diaspora to channel their remittances home towards investment rather than consumption. Deputy Governor (Financial System Stability) at the Central Bank of Nigeria (CBN), Mr. Philip Ikeazor, gave the advice during a forum that focused on: “Optimizing Remittances to Nigeria: A Vision for the Future,” held with the Nigerian…
Internet service provider, Starlink has announced the reversal of its recent service fee increase in Nigeria. This decision comes as a welcome relief to Nigerians who have been eagerly awaiting affordable internet solutions. The world’s leading provider of satellite launch services, in a statement said: “Last month, we increased the monthly service price for Starlink…
Nigeria’s House of Representatives is set to probe the abandonment of construction work at the Baro port in Niger State. It also urged the government to deploy technology-driven surveillance systems, such as drones and CCTV cameras, to monitor electricity transmission lines. This followed adoption of two separate motions sponsored by Kayode Ismail and Sani Umar…
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…
