Airtel Africa PLC Tuesday said that three investors, Qatar Investment Authority (QIA), TPG, a U.S. private equity firm, and Mastercard have increased their investments in Airtel Money to $500 million. The telecommunications giant made the disclosure in a notice signed by the group company secretary, Simon O’Hara, posted by the Nigerian Exchange Limited and seen by PREMIUM TIMES. Airtel Mobile Read More
Recent closure of account holders of Cryptocurrency by the Central Bank of Nigeria (CBN) has forced down the volume of transactions on Bitcoin by 43per cent. Before the drop, Nigerians posted weekly P2P volumes of about $9.4 million, followed by Kenyans and South Africans with nearly $2.8 million and $1.8 million respectively. Peer to peer in BTC refers to an Read More
The Central Bank of Nigeria (CBN) has announced N5 billion as the maximum loan amount for private companies in its newly introduced initiative, called ‘The 100 for 100 PPP – Policy on Production and Productivity. The CBN disclosed this in its guidelines for the implementation of the initiative published on its website. Part of the guidelines reads: “Loan amount shall Read More
Analysts have given thumb-up to the Central Bank of Nigeria (CBN)’s “100 for 100” Policy on Production and Productivity (PPP), bit expressed pessimism over headwinds confronting businesses in the country that would possibly dent expected result. For context, the 100 for 100 PPP is a financing scheme designed to provide targeted funding (in Naira) under existing CBN’s intervention programmes to Read More
The Central Bank of Nigeria (CBN) has announced that President Muhammadu Buhari will formally unveil the much talked about digital currency, known as the eNaira, on Monday. CBN Director, Corporate Communications, Osita Nwanisobi, who disclosed this in a statement on Saturday said the President will perform the unveiling ceremony inside the State House, Abuja. “Following series of engagements with relevant stakeholders Read More
The House of Representatives committee on sports on Thursday summoned former President of Nigeria Basketball Federation (NBBF) over embarrassing non-payment of allowances due Nigeria’s D’Tigresses. One after the other, D’Tigress players have in the past weeks accused NBBF of not releasing payments due them for some years now. To this end, the Reps committee thereafter summoned Kida to appear before Read More
As Nigerians await the launch of Central Bank Nigeria’s digital currency, eNaira, some financial experts have argued that while the introduction may deepen the financial inclusion drive in the country, it may also erode the profitability of some banks in Nigeria. The eNaira which will be an electronic version of the local paper naira currency, equal in value and issued Read More
After some months of legal fireworks, the Supreme Court in Abuja has affirmed former governor of the Central Bank of Nigeria (CBN) Professor Charles Chukwuma Soludo as the governorship candidate of the All Progressive Grand Alliance (APGA). The apex court also returned Chief Victor Oye as the national chairman of the party. In a judgment of five- man panel of Read More
The Nigerian Ethnic Youth Leaders Council (NEYLC) has faulted the position of the Vice President, Prof Yemi Osinbajo, who on Monday called on the Central Bank of Nigeria (CBN) to devalue the naira. The council, which is made up of the Arewa Consultative Youth Movement, Ohanaeze Ndigbo Youth Movement, Oduduwa Youths and Middle Belt Youths, noted that with his suggestion, Read More
Former deputy governor of Central Bank of Nigeria (CBN) and 2019 presidential candidate Kingsley Moghalu on Friday announced that he has joined Action Democratic Congress (ADC) ahead of 2023. Details loading…
On October 4, 2021, one of the fastest growing financial service providers in Nigeria, Titan Trust Bank Limited, celebrated two years of its existence. Established with a mission to take advantage of the identified gaps in the banking sector and address the unmet needs of the retail mass market, SMEs and corporates, Titan Trust Bank, has continued to provide seamless Read More
The Central Bank of Nigeria (CBN) Governor Mr. Godwin Emefiele has called on the youths to explore every opportunities including sports offered by the bank. The apex bank Governor made this known at the final of the All Financial Institutions Football Competition (AFIFC) decided at the U. J. Esuene Stadium in Calabar, the Cross River state capital. Represented by the Read More
Former Central Bank of Nigeria (CBN) Governor, Khalifa Muhammad Sanusi has sounded the death knell for Nigerian economy, noting that crude oil on which the economy is anchored has no future and is no longer sought after globally. Addressing the sixth Kaduna Investment Summit, after inaugurating the state development plan 2021 to 2023, to transform the state into a knowledge-based economy, the Read More
Teaming members of Coalition of Civil Society Groups on Wednesday September 22, 2021, staged a solidarity rally in support of President Muhammadu Buhari and the Governor of the Central Bank of Nigeria (CBN, Mr. Godwin Emefiele for their tact in handling Nigeria’s economy amidst global pandemic COVID-19. In his address during the rally held at the Unity Fountain in Abuja, Read More
Kaduna state governor Nasir El-Rufai, has responded to the new law banning Open-grazing in the Southern states of Nigeria, saying such law is not implementable presently. Some southern states like Ondo, Oyo, Lagos, Enugu and Osun, among others have passed anti open gracing law. But speaking with newsmen Tuesday after a meeting with officials of the All progressives Congress (APC) Read More
The Coalition of Civil Society groups has hailed the move by the Central Bank of Nigeria (CBN) to salvage the Naira through the discouragement of illicit financial flow and stoppage of the sales of Forex to Bureau De Change (BDC) operators who exploit and artificially inflate dollar/naira exchange. The coalition in a statement signed by its President and Secretary Etuk Read More
Former deputy governor of the Central Bank of Nigeria (CBN), Dr. Obadiah Mailafia is dead. Blueprint gathered that the 64-year-old politician and statesman died at the National Hospital Abuja this Sunday morning. Details later…
The Nigerian currency continues its free fall against the US dollar on the black market, as it exchanged at N565 per $1 on Thursday. Thursday’s rate indicates Naira dropped N3 at the black market when compared to the N562/$1 it traded on Wednesday. At the same market, the Nigerian currency depreciated against the Euro by N3 to close at N648/€1 Read More
Arewa Youth Assembly on Thursday splits over smear campaign against the Governor of Central Bank of Nigeria (CBN), Godwin Emefiele. The Assembly has also sacked its Speaker, Mohammed Salihu Danlami, over attack on President Muhammadu Buhari’s economic agenda and tenure extension. Recall that the Speaker of the group, Danlami, in a statement had insisted that Emefiele has option of voluntary Read More
A group of the ruling All Progressives Congress (APC) on the aiges of APC Legacy Awareness and Campaign (APC-LAC) has commended the firm responses of President Muhammadu Buhari-led administratiom to the Covid-19 pandemic. The group, which is a voluntary think-tank group of the governing party, particularly lauded President Buhari’s setting up of an Economic Sustainability Committee chaired by the Vice Read More
Nigeria estimates its economy will grow between 2.5 per cent and three per cent this year, Central Bank Governor Godwin Emefiele said yesterday, after an easing of lockdown measures and increased vaccinations boosted business, including international and local travel. Africa’s largest economy had contracted in 2020 due to the coronavirus pandemic, though in the fourth quarter it managed to exit Read More
The Association of Bureau De Change Operators of Nigeria (ABCON) has offered to assist the Central Bank of Nigeria (CBN) in stopping the naira’s depreciation. The Naira began the week at N545 per dollar at the black market, 3.1 percent depreciation from last week’s opening rate. The naira had opened last week at N528 but by the end of the Read More
The National Drugs Law Enforcement Agency (NDLEA) has said 1,630 people have been jailed for various drug offences across the country since January this year. NDLEA Chairman, Brig. Gen. Buba Marwa (retd.) disclosed this while fielding questions from State House correspondents after a meeting with President Muhammadu Buhari at the Presidential Villa, Friday in Abuja. “As far as activities in Read More
Safety Travels Ltd has launched a website and mobile app platform for interactive personalised services. The online App integrated with various providers including Amadeues & Thomalex supplies access to over 600 airlines across the globe. The Safety Travels website; safetytravels.org is secured with https certificate built with latest modern technologies and hosted on Amazon Servers aimed at giving customers the Read More
The Central Bank of Nigeria (CBN) has instructed microfinance banks operating in the rural areas not to exceed its credit facility to customers beyond N500,000. This was stated in a circular to all microfinance banks, titled “Cessation of Non-permissible Activities by Microfinance Bank dated August 19, 2011 and signed by Ibrahim Tukur, for the financial polier and regulations department of Read More
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