Online News Magazine
Online News Magazine
By Olalekan Fakoyejo The World Bank has recommended a single foreign exchange (Forex) market, urging Nigeria to do away with its multiple forex markets. In its latest ‘Macro Poverty Outlook for Nigeria: April 2023’, the World Bank said unification of the forex markets should be one of the reforms to strengthen the recovery of the […]
The Central Bank of Nigeria (CBN) has disassociated itself from the activities of a fake website that is currently inviting members of the public to submit applications for anticipated recruitment . In a statement signed by the Acting Director, Corporate Communications, Dr. Isa AbdulMumin, the apex bank said it is currently not conducting any recruitment […]
A French national, Bernard Arnault, 74 years, has emerged as the new richest person in the world having surpassed South African-born Elon Musk. He is worth US$208.1 billion. Musk is now the second richest. United States’ Jeff Bezos trails behind as number three. Bill Gates comes fourth while Warren Buffett is number five. Larry Ellison […]
The Industrial Training Fund (ITF) has conferred the award of “Best Contributing Employer in Human Resources Development” for the 2022 Service Year on the Nigeria Deposit Insurance Corporation (NDIC). The award was presented to the Corporation by the Director General, ITF, Sir Joseph N. Ari, who was represented by the Abuja Area Manager and Deputy […]
… Orders commercial banks to work on Saturdays, Sundays The Central Bank of Nigeria (CBN) has been forced to yield to the cry of Nigerians that enough banknotes should be made available at commercial banks across the country. Following the planned nationwide industrial action and picketing of CBN offices across the country by the Nigerian […]
Leading US banks have joined forces to deposit US$30bn into First Republic Bank in an attempt to bolster its finances and contain the fallout from the collapse of two big lenders, Silicon Vallye Bank and Signature Bank, in the past week. JPMorgan Chase, Bank of America, Citigroup and Wells Fargo will each deposit US$5bn into […]
The Governor of Central Bank of Nigeria (CBN), Mr. Godwin Emefiele has capitulated to the ruling of the Supreme Court that old N200, N500 and N1000 notes remain legal tender till 31 December, 2023. Emefiele did not yield to the apex court’s order given on March 3rd until he and the Attorney General of the […]
The Nigeria Deposit Insurance Corporation (NDIC) has warned bank customers and the public against displaying their bank details saying fraudsters were becoming more creative. The NDIC on its official website on Friday gave out four tips for bank customers to safeguard their accounts. The Corporation said that customers should ensure that their phones had a […]
The Acting Director, Corporate Communications Department, Central Bank of Nigeria (CBN), Alhaji Isa Abdulmumin, has declared that old N500 and N1000 notes are now legal tender. Speaking on Tuesday, Abdulmumin was quoted as saying that though the CBN has not made an official statement, the old naira notes remain legal tender with the Supreme Court […]
Four days after the celebrated judgement ordering that old N200, N500, and N1,000 notes remain in circulation till December 31, 2023, the Federal Government and the Central Bank of Nigeria (CBN) are yet to make official statements in favour or against the judgement. However, our correspondents who went across Lagos and other parts of the […]
