Online News Magazine
Online News Magazine
President Muhammadu Buhari has granted approval for partial exclusion of the Ministry of Finance Incorporated (MOFI) from the operation of Treasury Single Account (TSA). TSA is the single account where all the federal government’s revenue are kept. Buhari also granted the request of the Board of MOFI to charge management and transaction fees and the […]
The Central Bank of Nigeria (CBN) says there are no plans to phase out the redesigned Naira notes from circulation. A report had emerged that the apex bank may phase out the new notes over scarcity. CBN’s Acting Director, Corporate Communications Department, Dr Isa AbdulMumin, in a statement in Abuja on Sunday, clarified that such […]
In an avowed drive to further deepen the capital market and attract more young people to the market, the need to embrace fintech has again been emphasised. This was stated by the Director General Securities and Exchange Commission, Mr. Lamido Yuguda during the Supernews Nigeria Fintech Conference held in Lagos Thursday. Yuguda who was represented […]
In line with its mandate of deposit guaranty and reimbursement of depositors in the event of bank failure, the Nigeria Deposit Insurance corporation (NDIC) has commenced verification of insured depositors of Peak Merchant Bank in-liquidation towards payment of their insured sums. According to a release signed by the Director, Communication and Public Affairs, NDIC, Bashir […]
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 […]
