The Central Bank of Nigeria (CBN) has issued a directive to deposit money banks across the nation, compelling them to enforce a 0.5% cybersecurity levy on transactions, in adherence to the Cybercrime (Prohibition, Prevention, etc) (amendment) Act 2024.
In a circular released on May 6, 2024, the apex bank instructed...
Central Bank of Nigeria (CBN) Governor Yemi Cardoso has unveiled ongoing investigations into foreign exchange forwards worth approximately $2.4 billion, highlighting discrepancies and irregularities in these transactions.
Governor Cardoso disclosed this information following the Monetary Policy Committee (MPC) meeting in Abuja, shedding light on the forensic audit conducted to assess...
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...
High interest rates, unfavourable economic climate and insufficient power supply have been identified as the major constraints to businesses in the country.
The Statistics Department of the Central Bank of Nigeria said these in its ‘January 2020 business expectations survey report’.
Part of the report read, “Respondent firms identified insufficient power...
The Honourable Minister of Solid Minerals Development, Dr. Dele Alake, has unveiled a transformative new rates regime for services rendered by the Ministry’s departments and agencies, marking a significant step in the ongoing efforts by the present administration to enhance the sector's economic consolidation and international competitiveness.
Dr Alake made...
Ford Motor Co said on Monday it has decided to temporarily halt vehicle and engine production at its factories in India, South Africa, Thailand and Vietnam in response to the growing impact of the coronavirus.
In India, it began on March 21 and will be followed by other markets, the...
United Bank for Africa (UBA) Plc on Monday awarded millions of Naira as education grants to winners of its annual national essay competition.
A 14 year-old student of Louisville Girls High School, Ogun State, Miss Oluwatoroti Jolaosho emerged the overall winner of the 2019 edition of the UBA Foundation National...
Telecommunications operators in the country have insisted that the voicemail service on mobile telephone lines does not require policy or regulatory intervention from the Federal Government or its agencies.
The assertion by the telcos, under the aegis of Association of Licensed Telecoms Operators of Nigeria, followed an order issued by...
The Central Bank of Nigeria on Monday released the Nigerian Payments System Risk and Information Security Management Framework to guide the management of risks associated with the payments system in Nigeria.
The framework which had already been approved by the apex bank became imperative in order to identify and address...
Dangote Industries Ltd. plans to ensure that Nigeria becomes self-sufficient in cement, agriculture, mining and petroleum products.
The Regional Sales Director, Southeast Dangote Cement, Dr Abayomi Shittu stated this in Enugu on Thursday during Dangote Special Day at the on-going 34th Enugu International Trade Fair.
Dangote Industries Ltd. is into cement,...
