The Monetary Policy Committee of the Central Bank of Nigeria (CBN) has announced an increase in the monetary policy rate (MPR) from 22.75% to 24.75%. Olayemi Cardoso, CBN Governor, revealed this decision during the committee's 294th meeting in Abuja, emphasizing the bank's efforts to combat inflation.
According to Cardoso, "The...
In a move aimed at bolstering the foreign exchange market, the Central Bank of Nigeria (CBN) has given the nod for the sale of $10,000 to each Bureau De Change (BDC) at the rate of N1,251/$1. This development was communicated through a circular directly addressed to the BDCs by...
The Federal Inland Revenue Service (FIRS) has escalated its legal battle against Binance, a prominent cryptocurrency exchange platform, by filing criminal charges related to tax evasion. This move, announced in a statement on Monday, underscores the government's commitment to fiscal responsibility and economic integrity amid growing scrutiny of digital...
One of the Binance executives detained in Nigeria, amidst a legal battle over cryptocurrency regulations, has managed to escape custody. Nadeem Anjarwalla, a key figure at the world's largest cryptocurrency exchange, reportedly fled from a guest house in Abuja where he and his colleague were being held by security...
Flutterwave, Africa’s premier payments technology firm, has clinched the top spot in Fast Company’s Most Innovative Company for Europe, Middle East, and Africa 2024, joining the ranks of industry giants like Nvidia, Open AI, and YouTube.
This year’s list spotlights companies shaping industries and cultures with their innovations, setting new...
Zenith Bank, a leading financial institution, has announced the appointment of Adaora Umeoji as its new Group Managing Director and Chief Executive Officer (GMD/CEO). The appointment, set to take effect from June 1, 2024, was revealed in a corporate filing on the Nigerian Exchange Group (NGX) and signed by...
The Federal High Court, Abuja Division, has directed Binance Holdings Limited to provide vital information about Nigerian traders on its platform, as ordered by Justice Emeka Nwite following an ex parte motion filed by the EFCC.
Justice Nwite's ruling grants an interim order compelling Binance to furnish the EFCC with...
Access Holdings has named Aigboje Aig-Imoukhuede as its non-executive chairman, marking his return to the company after a decade-long tenure as Chief Executive Officer (CEO), following the passing of Herbert Wigwe, the former Group CEO.
In a statement released late Wednesday, Access Holdings confirmed the reappointment of Aigboje Aig-Imoukhuede as...
Lagos, Nigeria - In a strategic move to fortify its financial position amidst evolving market dynamics, Ecobank Transnational Incorporated (ETI) has inked a significant deal with the African Export-Import Bank (Afreximbank) and Africa Finance Corporation (AFC). Ayo Adepoju, ETI's group chief financial officer, disclosed this groundbreaking development in a...
Cryptocurrency exchange Binance has announced the discontinuation of its naira services, prompting users to take necessary actions before the specified timeline. The decision comes amidst a regulatory faceoff between Binance and the Nigerian government over allegations of illicit financial activities.
Binance, a leading cryptocurrency exchange, has notified users of the...
