The Federal Government has announced the date to recommence Digital Money Lenders’ registration in Nigeria. The Executive Vice Chairman of the Federal Competition and Consumer Protection Commission, Babatunde Irukera, disclosed on Friday noted that the development is coming following the inability or failure of some firms to comply with the previous. Recall that the Commission had, on 14 November 2022, ordered …

Standard Chartered Bank Nigeria Limited has debunked reports that the bank is closing its branches in Nigeria. The House of Representatives Ad Hoc committee on the assets and liabilities of the NNPC Limited had reportedly stated that “Standard Chartered Bank is closing all its Nigerian branches and the nation has so much to worry about, considering the huge funds warehoused …

9 Payment Service Bank, a leading payment service bank, is pleased to announce its strategic partnership with the Lagos State Employment Trust Fund (LSETF) to promote financial inclusion and job creation through comprehensive financial literacy and agent banking offering. This collaboration reflects the shared commitment of both organizations to enable economic empowerment through job and wealth creation for the residents …

The Group Chief Executive Officer of NNPC Limited, Malam Mele Kyari has given assurances that competition among major players in the oil sector would force down the price of petrol in spite of the upward trends that have caused panic in the country. Yesterday, fuel price skyrocketed from N195 per litre (officially) to between N488 and N557 per litre, depending …

President of the World Bank Group, David Malpass has warned that Nigeria’s parallel exchange rate is harmful as it worsens future debt service payments and increases the risk of debt distress. In a blog post published on Wednesday on the bank’s website, Malpass said that about 24 emerging and developing economies, including Nigeria, have an active parallel currency market. He explained: …

Standard Chartered Bank (Nigeria) Limited has set aside $10,000 for the five winners in its fourth SC Women in Technology Incubator, an initiative designed to support and promote the economic and social development of women in Nigeria through innovation or technology-led entrepreneurship. The announcement follows the completion of the last three editions, which had seen 15 winners emerge to date, …

The Senator representing Kogi West, Smart Adeyemi has called on the incoming administration to investigate the circumstances that greeted the naira redesign policy. Senator Adeyemi specifically urged the President-elect Bola Ahmed Tinubu to ensure that the Central Bank of Nigeria governor, Mr. Godwin Emiefiele is invited for questioning to shed light on those who were involved. The lawmaker, who was …

The Federal Executive Council on Wednesday approved the merging of the National Identity and Bank cards in Nigeria. This followed a memorandum presented by the Ministry of Communication and Digital Economy to the meeting of the Council presided over by President Muhammadu Buhari. The Minister, Prof. Isa Pantami, who briefed the media after the meeting, said that move was to …

The Central Bank of Nigeria (CBN) on Tuesday revoked the operating licences of 132 Microfinance Banks (MfBs), three finance companies and four Primary Mortgage Banks (PMBs). The affected MfBs include Atlas Microfinance Bank, Bluewhales Microfinance Bank, Everest Microfinance Bank, Mainsail Microfinance Bank, Nopov Microfinance Bank, Ohon Microfinance Bank, Premium Microfinance Bank and Statesman Microfinance Bank. Others include Manny Microfinance Bank, …

A Federal High Court sitting in Abuja has ordered the Central Bank of Nigeria (CBN) to provide the Human and Environmental Development Agenda (HEDA) Resource Centre access to information relating to the country’s exchange rate subsidy. HEDA obtained the ruling when the court decided on a suit it instituted in 2020 against the apex bank after denying it access to …