(AFRICAN EXAMINER) – The Central Bank of Nigeria (CBN) has issued its approved guidelines to regulate the activities of Bureau de Change (BDC) operators in the country. In its new circular released on Wednesday, the minimum capital base for Tier-1 BDCs is N2bn while that of Tier-1 is set at N500m. Also, the mandatory caution […]
(AFRICAN EXAMINER) – ) The Nigerian Civil Aviation Authority (NCAA), has said that it would not hesitate to invoke relevant sections of the organisation’s regulations to sanction Turkish Airlines over mistreatment of Nigerian passengers. NCAA’s Director, Public Affairs and Consumer Protection, Mr Michael Achimugu, disclosed this to newsmen on Wednesday in Lagos. Achimugu said that […]
(AFRICAN EXAMINER) – The Central Bank of Nigeria (CBN) has raised the interest rate to 26. 25 per cent. More to follow…
(AFRICAN EXAMINER)- Air Peace has dismissed reports of alleged safety breach in the United Kingdom, stating that ramp inspection issues were resolved with UK Civil Aviation Authority (CAA). The Lead, Corporate Communications of the airline, Mr Stanley Olisa, dismissed the allegation in a statement made available to newsmen on Monday in Lagos. In response to […]
(AFRICAN EXAMINER) – The Central Bank of Nigeria (CBN) has withdrawn its earlier circular directing banks to implement a controversial 0.5% cybersecurity levy on electronic transactions. The decision of the apex bank to withdraw the circular followed the public outrage that trailed the announcement of the policy two weeks ago and the suspension of the […]
(AFRICAN EXAMINER) – The Nigerian National Petroleum Company Ltd., (NNPC Ltd) has assured that the fire incident in a depot in Lagos will, in no way, affect petroleum products supply and distribution across the country. Chief Corporate Communications Officer, NNPC Ltd., Mr Olufemi Soneye, said this in a statement on Friday in Lagos. Soneye said […]
(AFRICAN EXAMINER) – Nigeria’s inflation rate rose to 33.69% in April 2024 compared to March 2024 headline inflation rate which was 33.20%. This was according to the National Bureau of Statistics (NBS)’s Consumer Price Index (CPI) report released on Wednesday. “In April 2024, the headline inflation rate increased to 33.69% relative to the March 2024 […]
(AFRICAN EXAMINER) – The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has hinted that the apex bank will keep interest rates high until inflation subsides by implementing orthodox policies. In an interview with the Financial Times, Cardoso said that the Monetary Policy Committee (MPC), which he chairs, would do whatever is necessary […]
(AFRICAN EXAMINER) – Trading opened negatively on the Nigerian Exchange Ltd. (NGX) on Monday with the market capitalisation dropping by N297 billion. The market capitalisation closed lower at N55.264 trillion compared with N55.561 trillion, a decrease of 0.53 per cent. Also, All-Share index also went down by 0.53 per cent or 525.02 points to close […]
(AFRICAN EXAMINER) – In line with his commitment to ensure energy security, drive utility, and cut high fuel costs, President Bola Tinubu has directed the mandatory procurement of compressed-natural-gas-powered vehicles by all government ministries, departments, and agencies. Presidential Spokesman, Chief Ajuri Ngelale said the President’s directive is also in furtherance of Nigeria’s effort to transition […]
(AFRICAN EXAMINER) – Nigeria’s revenue from the manufacturing export sector has plunged by 166 per cent to ₦778.4bn from the ₦2.trn height reached in 2019. A newly published report ‘Africa Pulse’ by the World Bank obtained by Channels Television, said the trend since 2019, has been downwards recording a significant decline to ₦960.7bn attributed to […]
(AFRICAN EXAMINER) – The National Directorate of Employment (NDE) on Friday in Yenagoa commenced the training of 20 unemployed youths in graphic design and fashion designing. At the opening, NDE Director-General (DG), Mallam Abubakar Fikpo, stated that 740 youths had been selected to undertake the intensive three-month training across the nation. Represented by Mr Aham […]
(AFRICAN EXAMINER) – FBN Holdings Plc, has announced the exit of Mr Tunde Hassan-Odukale as Chairman of its subsidiary, First Bank of Nigeria Ltd., following the completion of his tenure. Consequently, the Board of First Bank appointed Mr Ebenezer Olufowose, a Non-Executive Director, as the new Chairman of the Board of Directors of the Bank. […]
(AFRICAN EXAMINER) – The Central Bank of Nigeria (CBN) has directed deposit money banks and financial institutions to suspend processing fee on deposits till September 30, 2024. In a circular, the apex bank ordered that financial institutions suspend processing charges imposed on cash deposits above N500,000 for individuals and N3,000,000 for corporates. The circular to […]
(AFRICAN EXAMINER) – The Naira on Tuesday depreciated at the official market, trading at N1,416.57 to the dollar. Data from the official trading platform of the FMDQ Exchange, a platform that oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), showed that the Naira lost N62.36. This represents a 4.60 per cent loss when compared to […]
(AFRICAN EXAMINER) – The Central Bank of Nigeria (CBN) has set July 7, 2024, as the deadline for Point of Sales (PoS) operators to finish their registration with the Corporate Affairs Corporation (CAC). This directive was issued in a meeting in Abuja between Fintechs and the Registrar-General/Chief Executive Officer (CAC), Hussaini Magaji (SAN). Magaji stated […]
(AFRICAN EXAMINER) – As the nationwide supply and distribution of Premium Motor Spirit (PMS), also known as petrol, continues to improve, the Nigerian National Petroleum Company (NNPC) Limited has once again called on motorists to shun panic buying of the product. In filling stations monitored across several states, including Lagos and the FCT, the queues […]
(AFRICAN EXAMINER) – The Socio-Economic Rights and Accountability Project has warned the Federal Government to reverse the 0.5 per cent cyber security levy imposed by the Central Bank of Nigeria. SERAP also cautioned the federal government that it will deal in legal action against the government if it failed to reverse the levy within a […]
(AFRICAN EXAMINER) – The Central Bank Of Nigeria (CBN), has issued a seven-day deadline for Point of Sales operators, to complete registration with the Corporate Affairs Corporation (CAC). This was revealed during a meeting between Fintechs and the Registrar-General/Chief Executive Officer, CAC, Hussaini Magaji (SAN) in Abuja on Tuesday. Speaking at the event, the CAC […]
(AFRICAN EXAMINER) – Mr Heineken Lokpobiri, Minister of State for Petroleum Resources (Oil), says the quickest way toward economic recovery for Nigeria is through oil and gas investment. Lokpobiri disclosed this in an interview with newsmen on the sideline of the ongoing 2024 Offshore Technology Conference (OTC) in Houston, Texas, on Monday. The minister said […]
