The Federal Executive Council (FEC) has granted its consent for the disbursement of N60 billion from the Central Bank of Nigeria (CBN) through its Agric Small and Medium Enterprises Investment Scheme to support small businesses, particularly among young entrepreneurs nationwide. A statement issued by the Minister of Youth, Jamila Ibrahim, after the conclusion of the […]
Technology
CBN Sells Dollars To BDCs, Sets Sale Rate At N1,269/$1
In furtherance of its sustained policy measures to moderate the lingering volatility in the nation’s foreign exchange (FX) markets, the Central Bank of Nigeria (CBN) has hinted that it is allocating $10,000 at N1,251/$ to each Bureau de Change (BDC) operator in the country. In a memo dated March 25, 2024, and addressed to the […]
Copyright Commission Files Criminal Charges Against MTN, Others
The Nigerian Copyright Commission (NCC), has filed criminal charges against MTN Nigeria Communications Limited and four others over alleged copyright infringement. The suit with No FHC/ABJ/CR/111/2024 was filed against the mobile network operator at the Federal High Court, Abuja Division on Monday. Other joined as defendants in the suit are the Chief Executive Officer of […]
Ecobank Group Signs United Nations Women’s Empowerment Principles
Ecobank, the pan-African banking group, has formally signed the Women’s Empowerment Principles by UN Women and the UN Global Compact (WEPs), which provide guidance to the private sector on how to advance gender equality and women’s empowerment in the workplace, marketplace and community. The bank’s Group Chief Executive Officer, Jeremy Awori, announced the signing of […]
FG Moves To Boost Local Production Of Electricity Meters
The Federal Government has revved its current drive to improve production capacity of local companies on electricity meters with the meeting with indigenous manufacturers, assuring them of its readiness to give them support to double their production capacities. The Minister of Power, Adebayo Adelabu, who spoke on the government’s readiness to enhance the nation’s meter […]
Analysts Forecast Bearish Trend In Nigerian Exchange
Researchers at Bankcorp Securities Limited, a leading investment research and consulting services providing company, have projected that trading on the Nigerian Exchange (NGX) this week will be flattish, with a predominant bearish sentiment characterizing the sessions. The experts, in the firm’s ‘Weekly Stock Recommendation: Mar 25 to Mar 29, 2024’ circulated to our correspondent on […]
FG Files Tax Evasion Charges Against Binance
The Federal Government has initiated criminal proceedings against Binance, a cryptocurrency exchange platform, in a decisive move aimed at upholding fiscal responsibility and safeguarding the economic integrity of the country, The criminal proceeding charges, filed at the Federal High Court in Abuja, were announced by the Federal Inland Revenue Service (FIRS) in a statement issued […]
Nigeria Seeks Joint Sub-Regional Protection of Undersea Cables
Following recent undersea cable cuts that challenged connectivities in many countries in the West African region, Nigeria has canvassed the need for a coordinated and multilateral approach by the regional authorities to protect shared telecommunications infrastructure, and diversify connectivity to ensure uninterruptible connections. The Executive Vice Chairman of the Nigerian Communications Commission (NCC), Dr. Aminu […]
States Must Prioritize PPP Arrangement In Power Infrastructure Projects – Nnaji
State governments in the country should adopt a Public Private Partnership (PPP) arrangement in procuring power infrastructure in their states in the current efforts to boost electricity supply nationwide, a former Minister of Power, Prof. Barth Nnaji, has advised. The industry top player gave the charge on Thursday during his paper presentation at the first […]
EFCC, NDIC Parley To Promote Transparency, Combat Frauds In Banking Industry
The Economic and Financial Crimes Commission (EFCC) and the Nigeria Deposit Insurance Corporation (NDIC), have opened discussions on how to synergize their efforts for the purposes of ensuring that the nation’s banking industry is secured from fraudulent activities and by implication, stabilize the financial system. The Executive Chairman of the EFCC, Mr. Ola Olukoyede, made this […]