CBN Orders Banks To Increase Transaction Charges,Tuesday, May 7, 2024
The Central Bank of Nigeria (CBN) has directed all banks in Nigeria to begin charging a cybersecurity levy on transactions. This was made known via a circular from the apex bank on Monday which stated that the levy should be charged two weeks from May 6th, 2024. The circular includes all comme ...
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SMEDAN Set To Empower Women Entrepreneurs With GrantsMonday, May 6, 2024
The Small and Medium Enterprises Development Agency of Nigeria has disbursed a grant of over N2.05m to five outstanding women entrepreneurs. This was made at the first edition of its Speed Pitch Competition at the Eko Convention Center in Lagos. According to a statement by the media aide to th ... |
Afrinvest Urges FG To Prepare Real Sector For Fresh Bank FundsMonday, May 6, 2024
The Managing Director of Afrinvest West Africa, Chioke Ike, has urged the Federal Government and subnationals to provide real sector projects that could be financed by the fresh funds being raised by banks in the country. The Central Bank of Nigeria in March directed banks to increase their capit ... |
AMCON Serves No Purpose Anymore, Says Pioneer MDMonday, May 6, 2024
The pioneer Managing Director of Assets Management Corporation of Nigeria, Mustapha Chike-Obi, has disclosed that the corporation was no longer useful in the banking industry. AMCON, established in July 2010 by an act of parliament, was meant to provide stability for the financial system by effic ... |
FAAN, NSA In Collaboration To Cut Physical Security Checks At AirportsMonday, May 6, 2024
The Federal Airports Authority of Nigeria in partnership with the Office of the National Security Adviser to reduce the number of security checkpoints at the country rsquo;s airports. This follows after travellers made complaint over the delays caused by multiple physical security checks. Whil ... |
Lafarge Shareholders Approve N30.6 Billion DividendMonday, May 6, 2024
Lafarge Africa Plc has expressed the firm commitment to continue to invest in research and development as well as explore opportunities for operational optimisation, even as shareholders endorsed the company rsquo;s total dividend of N30.6 billion, culminating in N190 kobo per 50 kobo ordinary share ... |
Wema Bank Seeks Approval For Merger, Acquisition, Takeover To Meet CBN RecapitalSunday, May 5, 2024
Indications have emerged that Wema Bank Plc is seeking its shareholders rsquo; approval for measures like merger and acquisition, takeover, or business combination to meet the Central Bank of Nigeria recapitalization directives for a National Licenced Bank. It is understood that the bank will onl ... |
Dangote Plans To Produce 700,000mt Of Refined Sugar In Four YearsSunday, May 5, 2024
Dangote Sugar Refinery Plc (DSR) has disclosed its plans to produce 700,000 metric tonnes of refined sugar from locally grown sugarcane in the next four years, through its Backward Integration Programme (BIP). This was disclosed by the Chairman of Dangote Sugar Refinery Plc, Aliko Dangote at the ... |
Nigeria Partners With India On Local Currency Trade Settlement SystemSunday, May 5, 2024
Nigeria and India will soon unveiled a system of settling international trade payments between both countries in local currencies. This was made after the second annual Joint Trade Committee (JTI) meeting between the Permanent Secretary of Nigeria rsquo;s Ministry of Industry, Trade and Investmen ... |
APM Terminals Set To Invest $500m In NigeriaSunday, May 5, 2024
The Chief Executive Officer of APM Terminals, Keith Svendsen has disclosed plans to invest more than $500m in Nigerian ports by his company. Svendsen, who reiterated the company future investment in Nigeria, in a statement, noted that APM Terminals has intensified talks with the administration of Pr ... |
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