Within the next four or five weeks, Nigeria shouldn’t import anything like gasoline; not one drop,” Dangote said in Kigali.
Africa’s richest man and Chairman of Dangote Group, Aliko Dangote has assured that following laid down plans of the Dangote Refinery, Nigeria as a nation will have no need to import gasoline from next month.
Dangote also said his refinery has capacity to supply West Afr...
Question for the week!!!
What's a red flag that makes you decline to work with an organization?
Africa is the world’s second-largest and second-most populous continent, known for its diverse cultures, landscapes, and wildlife.
It’s home to some of the oldest civilisations, stunning natural wonders like the Sahara Desert and Victoria Falls, and a rich tapestry of languages and traditions.
Africa, a home to 57 countries, is a continent abundant in natural resources, yet it’s often linked...
The Central Bank of Nigeria (CBN) on Monday directed banks to start the process of deducting cybersecurity levy to be administered by the office of the National Security Adviser (NSA).
According to a circular sent to commercial banks, mobile money operators, payment service providers, and others, the deduction of the cybersecurity levy is a sequel to the enactment of the 2024 Cybercrime (prohib...
The Central Bank of Nigeria has directed banks to stop charges on cash deposits until September 30, 2024.
The apex bank disclosed this in a circular dated May 6, 2024, signed by its Director of Banking Supervision, Adetona Adedeji.
Customers of some of the Deposit Money Banks raised concerns that the banks have begun collection of processing fees for cash deposits as of May 1.
Our corresp...
The Corporate Affairs Commission has set a two-month deadline for Point of Sale operators in the country to register their agents, merchants and individuals, latest by July 7, 2024.
The Registrar-General/Chief Executive Officer, CAC, Hussaini Magaji, SAN, met with some fintech companies, also known as PoS, on Monday in Abuja, during which the agreement was reached.
Magaji said the measure ai...
The Central Bank of Nigeria has ordered banks operating in the country to start charging a cybersecurity levy on transactions.
A circular from the apex bank on Monday disclosed that the implementation of the levy would start two weeks from today.
The circular was directed to all commercial, merchant, non-interest and payment service banks, among others.
The circular revealed that it was a...
Nigerian fintech companies have warned their customers against trading in cryptocurrency or any virtual currency on their apps, threatening to block any accounts found engaging in such activities.
At least four fintechs—Opay, Moniepoint, PalmPay and Paga—have communicated this development to their customers on Friday.
Last week, the Central Bank of Nigeria stopped major fintech firms like Ku...
It seems this is the new scam in town now... They almost scammed a POS agent closer to my house yesterday.... As the lady told us... She said they are 3 in number on the bike... The two at the back came down to meet the pos agent while the bike man was sitting on the bike... She said the guy wanted to withdraw 51000k including the 1k charges.. the pos agent press 5he 51k on the terminal while she...
WEMA BANK ANNOUNCES CALL FOR ENTRIES FOR ITS YOUTH-FOCUSED HACKATHON, HACKAHOLICS 5.0
Wema Bank, Nigeria's foremost innovative bank and pioneer of Africa's first fully digital bank, ALAT, has announced the Call for Entries in the 5th edition of its flagship youth and startup-focused tech competition, Hackaholics. This announcement was made at the Press Conference held at Wema Bank’s Head Office...
The National Union of Banks, Insurance and Financial Institutions Employees (NUBIFIE) has taken decisive action against Heritage Bank by shutting down its head office in Lagos.
This move comes in response to the bank’s management’s recent mass sacking of over 1000 personnelMwithout following due process.
NUBIFIE vowed to continue picketing the bank’s premises until the management addressed t...
*Goldman Sees Nigerian Naira Extending World-Beating Rally
*Naira is globe’s best performing currency this month
*Rebound follows steep decline caused by two devaluations
Nigeria’s naira could extend gains that have already made it the best-performing currency in the world this month, said a Goldman Sachs Group Inc. economist — provided policymakers stay on track.
The naira has rallied 12%...
The Central Bank of Nigeria (CBN) has increased the monetary policy rate (MPR) by 200 basis points, to a new unprecedented 24.75% at the end of its 294th meeting of the Monetary Policy Committee (MPC).
This is a lower hike compared to the 400 basis points at 22.75% in the previous month. The decision announced by the CBN governor, Yemi Cardoso, propels the MPR to its highest point ever, reaffir...
Major Crypto Exchange OKX shuts down in India, advices users to withdraw all funds
Major Cryptocurrency exchange OKX has announced that it is shutting down its services in India due to local regulations.
The Crypto exchange advised its users to withdraw all funds on the platform by the end of April.
According to Bitcoin News, the exchange sent out a notice to its users on Thursday announc...
Nigerian banks are now requesting that customers applying for forex transactions via a Form A must now provide at least the last 3 years tax clearance certificate.
Nairametrics confirmed this from an email notification from Standard Chartered Bank to its customers.
According to the notice, effective April 1, 2024, all Standard Chartered Bank customers who use Form A for applications are mand...