Aspen Insurance Holdings Limited, the Bermuda-based insurer and reinsurer, has confirmed that it is mulling an initial public offering (IPO) of its ordinary shares in 2024, subject to satisfactory market conditions. A news report from Reinsurance News, an industry-focused online medium, on Monday indicated the announcement from the risk underwriting firm confirmed a previous report […]
The Centre for the Promotion of Private Enterprise (CPPE), one of Nigeria’s private sector advocacy groups, has described the recent decision by the Central Bank of Nigeria (CBN) to increase the Customs Exchange rate from N783 to N952/$1 as undesirable for the economy, warning that it will worsen the already prohibitive production and operating costs […]
The Central Bank of Nigeria (CBN) has announced the immediate suspension of processing fees on large cash deposits. With this fresh directive, all financial institutions regulated by the CBN will cease to impose any charge on cash deposits that meet or exceed these thresholds. The apex bank in a circular to dated December 11, 2023 […]
The Central Bank of Nigeria (CBN) has extended the timeline for the issuance of Letters of Credit from 24 hours to five working days as foreign exchange (FX) scarcity continues to constrain business activities nationwide Also, the apex bank extended the timeline for the registration of Form M and NXP from 24 hours to two […]
The Lagos Chamber of Commerce and Industry (LCCI) on Thursday announced a change in its board with the election of Gabriel Idahosa as President and Chairman of the Council. The Chamber’s Director General, Dr. Chinyere Almona, who made the disclosure during the Chamber’s 135th Annual General Meeting (AGM) in Lagos, said that Idahosa’s appointment was […]
The Central Bank of Nigeria (CBN) on Friday advised the public to beware of counterfeit Naira banknotes in circulation following its attention drawn to the menace, especially of higher denominations, by some individuals for transactions across major cities in the country. The apex bank, in a statement signed by its Acting Director, Corporate Communications, Mrs. […]
The Managing Director of the Nigerian Ports Authority (NPA), Mohammed Bello- Koko, has refuted the rumour about $1.8 billion allegedly missing from the Authority, describing it as ill-founded and false. According to him, the inability of the NPA to remit substantial part of the amount which is considered irrecoverable is due to faulty concession. Bello- […]
The Executive Vice Chairman (EVC) of the Nigeria Communications Commission, Dr. Aminu Maida, has said competition remained desirable for the sustainable growth of the nation’s telecoms sector. Maida, who spoke on Wednesday when he received the management team of Airtel Networks Limited in Abuja, said the Commission would give closer attention to managing the competition in the industry. Specifically, […]
President of the African Development Bank (AfDB), Dr. Akinwumi Adesina, has disclosed that Africa accounts for just three percent of the total $25.3 trillion global trade with most of the economies highly vulnerable to commodity price volatility. Adesina, who made remark while speaking on sustainable trade and energy mix at the Sustainable Trade Africa Conference […]
The Corporate Affairs Commission (CAC) and Federal Inland Revenue Service (FIRS) have agreed to reinvigorate their existing collaboration towards fulfilling their statutory roles. The two agencies indicated this laudable plan on Wednesday during a visit by the CAC Registrar General/CEO, Hussaini Ishaq Magaji, to the FIRS Executive Chairman, Mr. Zacch Adedeji, at Revenue House in […]