….First Bank Says FX Licence Suspension Issues Will Be Resolved The Bank of Ghana on Tuesday announced the suspension of the Foreign Exchange Trading Licences of Guaranty Trust Bank Ghana Limited (GTB) and FBNBank Ghana Limited (FBN) for 30 days effective from 18th March 2024 over regulatory infractions. Specifically, the apex bank linked its action […]
Following its indictment by the Nigerian government on alleged manipulation of the country’s foreign exchange market and subsequent order given to it to discontinue its services in the country, Binance, a leading cryptocurrency trading platform, has advised Nigerians trading on its exchange to withdraw all their NGN assets. Specifically, Binance disclosed that it would no […]
The Economic and Financial Crimes Commission (EFCC), has disclosed that approximately 70% of financial crimes in Nigeria are connected to banks. The chairman of the anti-graft agency, Ola Olukoyede, gave this hint during his address at the 2023 Annual Retreat and General Meeting of the Association of Chief Audit Executives of Banks in Nigeria held […]
The Federal Government has imposed a $10 billion fine on crypto trading platform, Binance, over allegations of influencing the country’s forex crisis. Mr. Bayo Onanuga, the Special Adviser on Information and Strategy to President Bola Tinubu disclosed this early Friday during an interview with the BBC. According to him, the cryptocurrency trading platform benefitted from […]
The Economic and Financial Crimes Commission (EFCC), has charged members of the Association of Local Governments of Nigeria (ALGON), to adopt innovative strategies in the current drive towards tackling corruption and improve governance at the local government level. The Executive Chairman of the anti-graft agency, Mr. Ola Olukoyede, gave the charge at a two-day national […]
The Presidency has given reasons why some Executives of a cryptocurrency trading platform, Binance Nigeria, are arrested and being quizzed by security agencies Speaking on the ‘Politics Today’ programme in Channels Television on Wednesday, President Bola Tinubu’s spokesman, Bayo Onanuga, alleged that the cryptocurrency trading platform was involved in some foreign exchange (FX) transactions abuses […]
The Central Bank of Nigeria (CBN) has recently released a Cyber Cyber-security Framework and Guidelines aimed at managing the technology platforms and infrastructure used in managing Deposit Money Banks, DMBs and Payment Service Banks, PSBs. According to the circular on the monetary policy guidelines to all Deposit Money Banks (DMBs) and Payment Services Banks (PSBs) […]
Kaspersky Security Network (KSN), a frontline cybersecurity firm, has reported that Nigerian businesses and organizations remain among the major targets of cybercriminals in 2023 with the country suffering 28.8% malware attacks in Q2, 2023. The firm gave this data at the 9th annual Cyber Security Weekend – META conference recently held in Kuala Lumpur, Malaysia, where […]
The Nigerian Communications Commission (NCC) and the Economic and Financial Crimes Commission (EFCC) have agreed to synergize efforts to tackle technology-driven crimes in the country in order to make Nigeria more investment-friendly and promote socioeconomic activities. The Executive Vice-Chairman/Chief Executive Officer (EVC/CEO) of NCC, Dr. Aminu Maida, gave this hint during his recent visit to […]
The House of Representatives Committee on National Agency on Food, Drugs Administration, and Control (NAFDAC), has advised the agency to suspend the enforcement of its recent ban on sale of spirits and alcoholic drinks in sachets and pet bottles. The committee’s advice was based on the need for the Legislature to conclude its investigation on […]