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Category: Business
Don’t trade in crypto, Opay, PalmPay, others warn customers
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…
Foreign exchange: Naira appreciates against dollar at official, parallel markets
The Naira ended the week by appreciating marginally against the dollar in the official and parallel foreign exchange markets.FMDQ data at the close of Friday…
Tax: Court orders FCT revenue agency to seal off defaulting companies
A Magistrate Court sitting in Wuse Zone 2, Abuja, on Friday ordered the Federal Capital Territory Internal Revenue Service, FCT-IRS, to seal off a company,…
Nigeria financial sector: Fraud surges by 496% in five years – NIBSS
Nigeria’s financial sector fraud surged by 496.96 per cent from 2019 to 2023 amid the rise of electronic payment.Nigeria Inter-Bank Settlement System disclosed this in…
Nigeria’s electricity generation up to 4,800mw – Power Minister, Adelabu
Minister of Power, Adebayo Adelabu says Nigeria’s electricity generation has increased to 4,800 megawatts in the past few days from 4200MW.He disclosed this on Thursday…
Nigerian Govt raises Maximum Deposit Insurance Coverage for banks
The Nigerian Government has reviewed upward the Maximum Deposit Insurance Coverage for banks operating within the country.In a recent briefing with journalists, Nigeria Deposit Insurance…
Reps summon minister over fuel scarcity
The House of Representatives on Tuesday summoned the Minister of Petroleum Resources over the nationwide scarcity of the Premium Motor Spirit also known as petrol.The…
Petrol hits N800 as 240 million-litre vessels arrive
The Nigerian National Petroleum Company Limited on Monday began offloading 240 million litres of Premium Motor Spirit, otherwise called petrol, as it stepped up efforts…
How I collected $600,000 for Emefiele – CBN ex-director tells court
A former Director of Information Technology of the Central Bank of Nigeria, CBN, John Ayoh, has explained how he collected $600,000 allegedly for contract gratification…
Naira depreciation: CBN raises Custom exchange rate by N162
The Central Bank of Nigeria, CBN, has increased the exchange rate for calculating tariff and import duties collection at the Nation’s seaports and airports by…