Business

The Central Bank of Nigeria (CBN) directed the exemption of microfinance and primary mortgage banks that provide banking services to the economically active poor from paying the processing fees for withdrawals above the cash withdrawal limits for direct cash withdrawals from their correspondent banks. The apex bank clarified that the …

Zenith Bank Plc has been named the Best Commercial Bank in Nigeria at the 2023 World Finance Banking Awards for a third term. Zenith Bank also emerged as the Best Corporate Governance Bank in Nigeria in the World Finance Corporate Governance Awards 2023, retaining the award for a second consecutive …

Currency outside banks rose to N2.26 trillion at the end of the first half 2023, according to the Central Bank of Nigeria’s recent Money and Credit Statistics. Reports emerged that currency outside banks rose from N982.09 billion at the end of February to N2.26 trillion in June 2023. The currency …

The Corporate Affairs Commission has said it will remove 100,000 registered companies from its database soon. During a training on ‘Use of the beneficial ownership register’, in Lagos, the Registrar-General and Chief Executive Officer, CAC, Alhaji Garba Abubakar, disclosed the commission’s intention to delete 100,000 registered companies from its database. …

The Central Bank of Nigeria (CBN) has raised the Monetary Policy Rate (MPR), which measures interest rate, from 18.5% to 18.75%. The acting CBN Governor, Folashodun Shonubi, made this known while addressing newsmen after the apex bank’s Monetary Policy Committee (MPC) meeting in Abuja on Tuesday, July 25, 2023.   …

The total number of issued Bank Verification Numbers rose to 57.96 million as of July 3, 2023, according to data obtained from the Nigeria Inter-Bank Settlement System Plc. This was as the Central Bank of Nigeria planned to the close bank accounts without BVNs. According to the NIBSS, the increasing …

CHINA’s woven fabric, women suits, fake hairs and other goods valued at N1.4 trillion ($1.95 billion) were ferried to Nigerian ports in April, 2023 as several interventions by the government to revive the ailing local textile industry have failed. Findings by New Telegraph revealed that only $150 million goods were exported …

THE naira traded at 663.04/dollar at the close of business on Friday after a free fall following the Central Bank of Nigeria’s floating of the national currency against the dollar and other global currencies. This means that the currency appreciated by about 5.9 per cent within 24 hours from the …

The Nigerian Railway Corporation (NRC) has recommenced the two additional train trips on Abuja-Kaduna Train Service corridor, which was earlier suspended. The additional train service resumed yesterday Sunday, June 4, 2023 as the train departed Idu at 9.45 a.m while another departed Rigasa by 1.30p.m As from today, Monday June …

The President of the France Nigeria Business Council, Dr Herbert Wigwe, has launched ‘Access Bank’s French Desk’ to provide support and guidance to French businesses operating in Nigeria, and businesses seeking to expand their presence in France. Wigwe, who is also the group chief executive officer of Access Holdings Plc, …