Nigeria’s transition triumphs amidst challenges as we enter seamlessly a fifth democratic government showing signals of resilience, despite economic and political turmoil, sparking moments of discontent and optimism across the nation. GSK. Optimism graces the Nigerian Financial Sector, as Capital markets soar with a long-awaited bull run, offsetting years of disappointment. Despite a daunting cash…
The African Continental Free Trade Area AfCFTA offers tremendous opportunity for unlocking business potential across the continent and the world. Historically, Africa’s Foreign Direct Investments (FDIs) as well as its regional and global value-chain participation have been consistently low, hampered by barriers to trade and competitiveness, according to a report by the World Economic Forum…
The Director of Payment Systems Management of the Central Bank of Nigeria, CBN, Musa Jimoh, who doubles as the Chairman of Nigeria Electronic Fraud Forum NeFF, yesterday disclosed that accumulated Electronic Fraud E-Fraud within the banking sector and payment systems network has led to a loss of N9.5 billion so far in 2023. Jimoh, who…
CBN ,The Central Bank of Nigeria yesterday returned Bureaux De Change (BDCs) to the foreign exchange market, with new guidelines on their operations. In a circular to BDCs signed by CBN Director, Trade and Exchange Department, O.S Nnaji, titled: “Operational Mechanism for Bureau De Change Operations in Nigeria”, the apex bank said the guidelines were…
DSS ,Department of state servic has picked up the Managing Director and Chief Executive Officer of Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL), Abbas Umar Masanawa, NewsEmbassy has learnt. Although the reasons he was picked up by the operatives were yet to be ascertained, sources familiar with the matter said his arrest was…
Nigeria Deposit Insurance Corporation, NDIC, announced it will begin investigating directors of the 183 banks that recently had their licenses revoked. This was disclosed by the Managing Director of the NDIC, Mr Bello Hassan at a one-day capacity-building workshop for law enforcement agencies on Thursday in Lagos. The NDIC says it plans to work with the Economic…
Crypto exchange Binance is shutting down its fiat-to-crypto payment platform Binance Connect, according to reports. The move comes over a year after the platform launched in March 2022, originally named Bifinity. Binance Connect will officially shut down on Aug. 16. “We periodically review our products and services to ensure that our resources continue to be focused…
