Human rights lawyer Femi Falana has faulted the Central Bank of Nigeria’s (CBN) new cash withdrawal limit, describing it as “illegal, null and void”. The CBN had ordered Deposit Money Banks (DMOs) and other financial institutions to ensure that weekly over-the-counter (OTC) cash withdrawals by individuals and corporate entities...
BUSINESS
The Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, says the apex bank is committed to ensuring financial system stability and improving access to credit. Emefiele spoke in a recorded address to the 2022 edition of the apex bank’s Development Finance Department (DFD) Retreat in Abuja...
The Nigerian Communications Commission (NCC) says that no fewer than 210 million Nigerians had been active mobile subscribers in Nigeria as at August with a teledensity of 109.99 per cent. The Executive Chairman of NCC, Prof. Umar Dambatta, stated this on Monday at the NCC Day at the 43rd...
The Nigerian Communications Commission (NCC) has urged network subscribers to leverage on its short code 2442 to end unsolicited messages by the Value Added Services (VAS) providers and network providers. The Zonal Controller, NCC, Enugu, Ogbonnaya Ugama, made the call while speaking with the News Agency of Nigeria (NAN)...
Nigeria has ranked sixth in the Africa Visa Openness Report released by the African Union (AU) and the African Development Bank (AfDB). The report, which is the seventh edition, was released at the 2022 African Economic Conference (AEC) being held in Balaclava, Mauritius on Sunday. The report noted that...
The Governor, Central Bank of Nigeria (CBN), Mr Godwin Emefiele, on Saturday expressed optimism that export proceeds repatriation for rebate would hit one billion dollars by fourth quarter of 2022. Emefiele said this at a press conference on the outcome of the 13th annual Bankers’ Committee Retreat, held in...
The Declaration of Cooperation (DoC) between Organisation of Petroleum Exporting Countries (OPEC) Member Countries and 10 non-OPEC oil-producing countries turned six on Saturday Dec. 10, 2022. On this date in 2016, OPEC Member Countries and Azerbaijan; the Kingdom of Bahrain; Brunei Darussalam; Equatorial Guin; Kazakhstan; Malaysia; Mexico; Sultanate of...
Ally Microfinance Bank, says it is targeting not less than 20,000 families for its 2023 December Jollification Savings Plan, where customers will be rewarded with food items worth twice their actual savings. Mr Bayonle Omoyele, the Chief Executive Officer (CEO) of the bank, said this on Saturday in Abuja...
Standard Chartered Bank, Nigerian Investment Promotion Council (NIPC) and the Bristish Deputy High Commission have bagged the Nigerian-British Chamber of Commerce (NBCC) most supportive organisation award. Ms Bisi Adeyemi, president, NBCC, in a report on Saturday in Lagos, said Standard Chartered Bank’s award was for the most supportive organisation...
The Minister of Aviation, Sen. Hadi Sirika, has said the Africa has resolved to implement a Single Air Transport Market in Africa (SAATM) to advance liberalization. Sirika made this known during his closing remarks at a five-day International Civil Aviation Organization (ICAO) Air Services Negotiation Event (ICAN2022) in Abuja...
The Governor, Central Bank of Nigeria (CBN) and Chairman, Bankers Committee, Mr Godwin Emefiele, has said that the committee could no longer delay in resolving the structural issues inhibiting non-oil export receipts. Emefiele said this at the opening of the 13th Annual Bankers’ Committee retreat, on Friday in Lagos,...
The Federal Inland Revenue Service (FIRS) has urged all tiers of government to spend public funds judiciously to build trust and encourage citizens to pay taxes. Its Director, Emerging and Special Taxes, Mrs Amina Ado, gave the advice in Abuja at a “Government-to-Citizens/FIRS interface forum with stakeholders. Ado noted...
The Governor of Central Bank of Nigeria (CBN), Godwin Emefiele has disclosed that the new naira notes have already been disbursed to the various commercial banks and expect that banks would begin distribution to the public. Emefiele made the declaration on Thursday after a visit to President Muhammadu Buhari...
By JOY ADARA, Abuja – The Abuja Chamber of Commerce and Industry (ACCI) has reacted to the new policy on cash withdrawal limits announced by the CBN, particularly on the ease and cost of doing business. The President of ACCI, Dr Al-Mutjaba Abubakar, said in a statement on Thursday...
The Federal Capital Territory Administration (FCTA), Department of Outdoor Advertisement and Signage (DOAS) says it has lost about N500 million revenue to masts erected without approval in the territory. The Director, Dr Babagana Adam, stated this during an interactive session with newsmen on Thursday in Abuja. He said available...
The Minister of Mines and Steel Development, Mr Olamilekan Adegbite, says 11 companies are presently involved in the concession bid for Ajaokuta Steel Company. Adegbite made this known on Thursday in Abuja at the presentation of the achievement of his ministry during the 9th edition of PMB Scorecard series,...
A news analysis by CECILIA OLOGUNAGBA, News Agency of Nigeria (NAN) On Nov. 23, 2022, the UN General Assembly adopted a resolution on the “Promotion of Inclusive and Effective International Tax Cooperation at the United Nations.” The resolution is expected to lay the foundation for the creation of a...
By CALLISTUS OFFOR, Abuja – The Nigerian Communications Commission (NCC) has said only two companies expressed interest in the auction of the 3.5GHz spectrum. The NCC’s Director, Public Affairs, Dr Reuben Mouka, said in a statement on Wednesday in Abuja that the companies were: Airtel Networks Ltd and Standard...
Twitter owner and Tesla CEO, Elon Musk briefly lost his title as the world’s richest person on Wednesday, to Bernard Arnault, the chief executive of luxury brand Louis Vuitton’s parent company LVMH, according to Forbes. Bernard Arnault, CEO of the French luxury goods firm LVMH, temporarily topped Musk on...
By OLA MUDOPE, Lagos – MTN Nigeria Communications Plc has been named the Most Compliant Listed Company at the Nigerian Exchange Limited (NGX) Made of Africa Awards held at the Civic Centre, Victoria Island, Lagos on 6 December 2022 . The award recognises the listed company with the highest...