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The CBN caps cash withdrawals at N100,000, N200 now maximum ATM denomination

The CBN caps cash withdrawals at N100,000, N200 now maximum ATM denomination

Posted: December 7, 2022 at 6:35 am   /   AFRICA, Business, FEATURED STORIES, Finance, news, TRENDING

The Deposit Money Banks (DMOs) and other financial institutions have been directed by the Central Bank of Nigeria (CBN) to guarantee that weekly over-the-counter (OTC) cash withdrawals by both private people and corporate entities do not exceed N100,000 and N500,000, respectively. In a circular published on Tuesday and signed by Haruna Mustafa, director of banking […]

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Fears as one Pound Trades For N1000 at parallel market

Fears as one Pound Trades For N1000 at parallel market

Posted: November 7, 2022 at 2:30 am   /   AFRICA, Business, Finance, news, TRENDING

The sharp fall of the naira against the foreign currencies continues this weekend with the British Pound crossing N1000 in the parallel market. There are fears that the dollar which has also been on a steep rise in value against the naira may cross N1000 any moment from now. The current black market rate which […]

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Dana Air to resume flight operations after four months suspension

Dana Air to resume flight operations after four months suspension

Posted: November 5, 2022 at 4:31 am   /   AFRICA, Business, news, TRENDING

One of Nigeria’s popular indigenous airlines, Dana Air, will on November 9 resume flight operations following the conclusion of an audit of the company organized by the Nigerian Civil Aviation Authority (NCAA). Recall that the airline’s license was suspended over four months ago by the Nigerian government to make it possible for the NCAA to […]

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How CBN destroyed over N6trn banknotes under Buhari

How CBN destroyed over N6trn banknotes under Buhari

Posted: October 31, 2022 at 3:15 am   /   AFRICA, Business, FEATURED STORIES, Finance, news, TRENDING

Report claims that the Central Bank of Nigeria (CBN) may have destroyed over N6tn worth of mutilated and old banknotes under the expiring administration of President Muhammadu Buhari. According to the report published by the Punch, data obtained from the annual reports of the currency operations department of the CBN between 2016 and 2020 indicated […]

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Court restrains Kogi govt from shutting down Dangote Cement Factory

FG reopens Obajana cement despite rift between Kogi govt, Dangote

Posted: October 17, 2022 at 2:58 am   /   AFRICA, Business, news, TRENDING

After being shut down by the Kogi State Government due to concerns over the legitimacy of the company’s acquisition of the disbanded Obajana Cement Company, the Dangote Cement Plant in Obajana, Kogi State, has now been reopened. The outcome came about as a result of a National Security Council directive to reopen the cement mill […]

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Apple fined $20m for selling iPhones without chargers

Apple fined $20m for selling iPhones without chargers

Posted: October 13, 2022 at 6:12 pm   /   AFRICA, Business, Finance, news, Technology, TRENDING, U.S., WORLD

A Brazilian judge fined Apple US$20 million on Thursday for selling iPhones without chargers, calling it an “abusive practice” that forces customers to buy an additional product. The decision, which can be appealed, came after Brazil’s justice ministry slapped a separate fine of nearly US$2.5 million on Apple in September over the same issue and […]

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World Bank sanctions seven Nigerian companies over corruption

World Bank sanctions seven Nigerian companies over corruption

Posted: October 13, 2022 at 3:13 am   /   AFRICA, Business, Finance, news, TRENDING

The World Bank has disclosed that it sanctioned seven Nigerian firms and individuals for corruption during its 2022 fiscal year. This disclosure was made in the bank’s latest Fiscal Year 2022, which covered July 1, 2021, to June 30, 2022, in the Sanctions System Annual Report. The sanction list contained three Nigerians and four Nigerian […]

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Glo Introduces Moneymaster PSB, to Hire 100,000 Agents

Glo Introduces Moneymaster PSB, to Hire 100,000 Agents

Posted: October 12, 2022 at 7:36 pm   /   AFRICA, Business, Finance, news, TRENDING

Over 100,000 agents will be hired by Moneymaster, a Globacom subsidiary that offers payment services, to further financial inclusion in Nigeria.Glo announced the launch of the company in Lagos and stated that Moneymaster would use mobile devices, point-of-sale systems, and the internet to offer financial services to millions of Nigerians who had previously been shut […]

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Fidelity Bank will encourage non-oil products and support entrepreneurs At FITCC 2022

Fidelity Bank will encourage non-oil products and support entrepreneurs At FITCC 2022

Posted: October 11, 2022 at 5:16 am   /   AFRICA, Business, Finance, news, TRENDING

Rittah Onakpome Fidelity Bank Plc, a major financial institution, has announced intentions to organize the inaugural Fidelity International Trade and Creative Connect (FITCC) in an effort to give Nigerian companies a competitive edge in foreign markets.The FITCC is slated to take place on Tuesday, November 15, and Wednesday, November 16, 2022 in London, United Kingdom, […]

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Wema Bank Boosts Healthy Living, Workplace Collaboration with Wemalympics 2022

Wema Bank Boosts Healthy Living, Workplace Collaboration with Wemalympics 2022

Posted: October 5, 2022 at 7:41 am   /   AFRICA, Business, Finance, news, TRENDING

Rita OnakpomeTo ensure its employees enjoy a high dose of Healthy living, physical fitness, emotional balance, and workplace collaboration to stimulate high productivity levels and a better workplace culture, Wema Bank Plc has announced the 2022edition of Wemalympics.Wemalympics is an inter-regional competition, which serves as a testimonial to the bank’s commitment to raising the bar […]

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