Polaris Bank Limited, Nigeria’s leading digital retail commercial bank, has empowered more than 5,000 journalists across the country in the last 10 years, through its yearly media capacity building workshops. The 2024 edition of the media workshop, which held on Thursday in a hybrid format, focused on ‘Integrating AITools in Contemporary Media Practices for Innovation and Excellence’. Head of Brand …

The Central Bank of Nigeria (CBN) has dismissed reports that the old N200, N500, and N1,000 banknotes will cease to be legal tender by 31 December 2024. In a statement by the Acting Director of Corporate Communications, Mrs. Sidi Ali, the CBN refuted these claims, stating they are false and intended to disrupt the country’s payment system. Ali emphasized that …

First Bank has announced plans to transition to a new cloud-based procurement and financial platform as part of its ongoing strategy to improve operational efficiency and service delivery. The migration, scheduled to begin on Saturday, 26 October, is expected to result in temporary service disruptions, the tier one lender with over 42 million customers said in a Wednesday notice. This …

Union Bank has set a new standard in Nigeria’s financial sector by offering unparalleled comprehensive maternity leave to support working mothers and an on-site crèche facility to support working parents. The scheme will benefit both male and female full-time employees. The initiative includes an industry-leading five months of fully paid maternity leave, exclusive of the applicable annual leave, and an …

As part of its ongoing commitment to continually empower the Nigerian media and enable it play the critical watchdog role in the society, Polaris Bank is organising an open workshop for all classes of journalist across the media spectrum. It is one of its critical Corporate Social Responsibility (CSR) interventions meant to positively impact key stakeholders. The 2024 media workshop …

The Central Bank of Nigeria (CBN) released $547.7 million (N823.19 billion at the official exchange rate of N1,503.3/$1, as of 30 June 2024) to Nigerians for the importation of food items in the second quarter of 2024. The amount is a reduction of $142.48 million or 20.6 per cent from $689.88 million recorded in the first three months of 2024 …

The Naira yesterday depreciated to N1,710 per dollar in the parallel market from N1,690 per dollar on Wednesday. Similarly, the Naira depreciated to N1,660.49 per dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM). Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,660.49 per dollar from N1,659.69 per dollar on Wednesday, indicating 80 kobo depreciation …

The value of the naira depreciated at the unofficial market on Wednesday as it traded at 1,705/dollar, according to Bureau De Change (BDC) operators in Lagos and Abuja. A BDC operator in Lagos, Aliyu Sani, told The PUNCH that he sold dollars for N1705, and bought at 1,695/$. In Abuja, the rate was lower at N1,700. A currency trader, Suraju …

The Central Bank of Nigeria (CBN) facilitated the remittance of approximately $600 million through International Money Transfer Operators (IMTOs) in one year, the apex bank Governor, Olayemi Cardoso broke the news yesterday. He spoke at a ‘fireside’ event at the ongoing Nigeria Economic Summit (NES30), organized by the Nigeria Economic Summit Group (NESG). Policymakers, economists, and industry stakeholders were in …

The Naira has been listed among the worst-performing currencies in Sub-Saharan Africa in 2024. This is according to the latest edition of Africa’s Pulse, a new report by the World Bank. As of the end of August 2024, the Naira had depreciated by approximately 43 per cent year-to-date, making it one of the region’s weakest currencies alongside the Ethiopian birr …