Redesigned naira notes will come with consequences, Budget minister says
Nigeria’s Minister of Finance, Budget and National Planning, Zainab Ahmad, has distanced herself and her ministry from the planned Naira redesign policy being championed by the Central Bank of Nigeria (CBN). The Finance Minister on Friday told the Senate Committee on Finance that the CBN did not consult her ministry on the planned Naira redesigning […]
CBN to release resigned Naira notes in December
The new naira notes redesign by the Central Bank of Nigeria (CBN) will go into effect in the middle of December 2022, CBN Governor Godwin Emefiele said on Wednesday during a press conference. Emefiele claims that the new notes come in denominations of N200, N500, and N1000. When the new banknotes start to circulate, he […]
Apple fined $20m for selling iPhones without chargers
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 […]
FG has no business in oil and gas, NNPC has added nothing to Nigeria’s coffer – El-Rufai
The Governor of Kaduna State, Nasir El-Rufai, has called for the immediate privatization of the Nigerian National Petroleum Company Limited (NNPC) insisting that it has added nothing to the federation’s account this year. Speaking on Channels TV’s programme, “Politics Today” on Thursday, El-Rufai said NNPC Limited has created more problems for Nigeria and has failed […]
World Bank sanctions seven Nigerian companies over corruption
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 […]
FG seeks debt restructuring from World Bank, IMF — Minister of Finance
Nigeria’s Minister of Finance, Zainab Ahmed said that the Federal Government has commenced discussions with the World Bank and the International Monetary Fund on debt restructuring for the country. Zainab disclosed this in Washington during a media interview on the sidelines of the ongoing annual meetings of the World Bank and IMF, adding that debt […]
Glo Introduces Moneymaster PSB, to Hire 100,000 Agents
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 […]
Fidelity Bank will encourage non-oil products and support entrepreneurs At FITCC 2022
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, […]
Wema Bank Boosts Healthy Living, Workplace Collaboration with Wemalympics 2022
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 […]
NNPC announces N674bn profit
The Nigerian National Petroleum Corporation Limited, on Tuesday declared a profit of N674 billion after tax for the year 2021. The NNPC stated the results in a post on Twitter. According to the NNPCL the Board has approved the audited financial statements for 2021. Statement quoted the Group Managing Director, Mele Kyari, declaring that “NNPCL […]