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FCMB Appoints Edun as Acting MD
FCMB Appoints Edun as Acting MD

FCMB Appoints Edun as Acting MD

First City Monument Bank Limited (FCMB) has appointed Yemisi Edun as its Acting Managing Director. Her appointment yesterday followed the decision of the Managing Director, Adam Nuhu, on Tuesday “to proceed on leave” to allow the Board investigate alleged unethical conduct accusation against... read more »

CBN Predicts Further Depreciation of the Naira in January
CBN Predicts Further Depreciation of the...

CBN Predicts Further Depreciation of the Naira in January 2021

The Central Bank of Nigeria has said that a survey conducted by its Statistics Department showed that the naira is projected to further depreciate in January next year. According to the report titled, ‘December 2020 Business Expectations Survey Report’, there might also be a steady rise in the... read more »

CBN Withdraws 42 Microfinance Bank’s Operating Licences
CBN Withdraws 42 Microfinance Bank’s Ope...

CBN Withdraws 42 Microfinance Bank’s Operating Licences

Nigeria’s apex bank, the Central Bank of Nigeria has withdrawn the operating licences of 42 microfinance banks operating in the country. This was contained in an announcement issued by the Nigeria Deposit Insurance Corporation (NDIC) on its website titled, ‘Notice of closure of 42 microfinance... read more »

LASG Seals Cubana Night Club for Breaching COVID-19 Protocols
LASG Seals Cubana Night Club for Breachi...

LASG Seals Cubana Night Club for Breaching COVID-19 Protocols

The Lagos State Government on Sunday sealed the Cubana night club, Ikeja GRA for violating the COVID-19 protocols introduced to curb the second wave of the virus in the state. Reports say the popular relaxation spot was sealed after inspection officials from the Lagos State Safety Commission... read more »

Diaspora Remittances: CBN Threatens Sanctions Against Paying Local Currency
Diaspora Remittances: CBN Threatens Sanc...

Diaspora Remittances: CBN Threatens Sanctions Against Operators Paying Loca...

The Central Bank of Nigeria has cautioned operators against paying recipients of diaspora remittances in the local currency rather than foreign currency. The apex bank threatened to strip violators of their operational licences if they failed to comply with its remittance guidelines. It disclosed... read more »

More from Business

President Buhari To Reopen Borders Soon

President Buhari To Reopen Borders Soon

President Muhammadu Buhari, on Tuesday, had a closed door meeting with the nation’s 36 state governors on the security challenges across the country. He explained that the closure of the... read more »

Sanow-Olu Unveils Nigeria’s First Electric Car

Sanow-Olu Unveils Nigeria’s First Electric Car

Governor Sanwo-Olu of Lagos State on Friday unveiled Nigeria’s first electric car dubbed Hyundai Kona. The car which is a product of Stallion Group was unveiled at the VON automoviles... read more »

Arabic Inscriptions on Naira Notes Not a Symbol of Islam - CBN

Arabic Inscriptions on Naira Notes Not a Symbol of Islam – CBN

The Central Bank of Nigeria (CBN) has kicked against a suit filed before the federal high court in Lagos asking for the removal of the Ajami (Arabic) inscriptions on the naira... read more »

No Plan to Increase VAT – FG

No Plan to Increase VAT – FG

The Federal Government has debunked claims on social media that it plans to increase the Value Added Tax (VAT) and other taxes in its proposed Finance Bill. Minister of Finance, Zainab... read more »

NCC Approves e-SIM Trial for MTN, 9mobile

NCC Approves e-SIM Trial for MTN, 9mobile

The Nigerian Communications Commission (NCC) says it has granted approval for two mobile network operators (MNOs), MTN Nigeria and 9Mobile, to carry out trial on the workability of embedded... read more »