The Central Bank of Nigeria has reinforced its regulatory oversight to bolster the resilience and transparency of the country’s financial system, reaffirming its commitment to strict compliance and risk management across financial institutions. According to a statement from the apex bank on Sunday, the CBN reaffirmed its commitment at a Mandatory Compliance and Anti-Money Laundering Training Workshop held in Lagos …

Fraudsters have stolen N329m by using static images to register for Bank Verification Numbers. This is according to a new report by the Nigeria Inter-Bank Settlement System, which outlines emerging fraud trends in Nigeria’s financial sector. According to the report obtained by Sunday PUNCH, some unscrupulous BVN enrollment agents facilitated the scheme by registering still images of individuals, both Nigerians …

The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has inaugurated 50 new commissioners to reaffirm the Federal Government’s commitment to enhancing Nigeria’s tax dispute resolution. Presiding over the swearing-in, Edun emphasised that the appointments reflect the Federal Government’s commitment to enhancing Nigeria’s tax dispute resolution system and ensuring fiscal justice. In a statement made available …

For those with paid Skype services, Microsoft has assured that they will have access until their next renewal period, further encouraging the shift to Teams. Tech giant company Microsoft announced that it will shut down the internet-based video service Skype after 21 years of operation in the digital communication sector. The company announced on Friday that Skype would officially close …

The Director of Research, Sea Empowerment Research Centre, Dr. Eugene Nweke has appealed to stakeholders in the maritime industry to allow the implementation of the International Cargo Tracking Note (ICTN) which would in turn add value to the Nigerian ports system. Since the news of the planned reintroduction of the ICTN filtered in, the subject has generated a heated debate …

In a development that seems straight out of science fiction, the AI revolution has taken a dramatic turn, moving beyond human-driven advancements to a startling new reality — self-replication. Scientists at Fudan University have demonstrated that AI models can now autonomously clone themselves, bypassing human intervention entirely. This breakthrough has sent shockwaves through the AI community, raising urgent questions about …

Smart Residences Limited (SRL), a leading indigenous hospitality firm, has announced the successful redemption of its Series 1 commercial paper and the raise of its Series II commercial paper with a 100% subscription rate. The Series 1 commercial paper, which was issued on 24 April 2024, was redeemed in full on 16 January 2025, demonstrating SRL’s commitment to meeting its …

The Federal Government has signed a cooperation agreement with Saudi Arabia’s Halal Products Development Company to establish Nigeria as a leading player in the global halal market valued at $7.7 trillion. The agreement will facilitate investment, technical cooperation, and market access across key sectors, including food production, pharmaceuticals, finance, and livestock for both countries. Speaking on Wednesday, during the signing …

The Naira yesterday depreciated to N1,495 per dollar in the parallel market from N1,490 per dollar on Wednesday. Similarly, the Naira depreciated to N1,496 per dollar in the Nigerian Foreign Exchange Market (NFEM). Data published by the Central Bank of Nigeria (CBN), showed that the indicative exchange rate for the naira rose to N1,496 per dollar from N1,495 per dollar …

To say that Lagos State is primed to become the next Silicon Valley is certainly stating the obvious. A first time visitor to the famous Computer Village in Ikeja and Ebute Metta, and Herbert Macaulay Way, in Yaba and its environs, all within Lagos mainland, would not just be amazed but more than convinced that these neighbourhoods sure have something …