The Securities and Exchange Commission (SEC) Nigeria has hinted of the development of new guidelines aimed at enhancing the licensing, registration, and screening processes for digital and virtual asset service providers (VASPs). The commission, in a Notice to the effect stated that the measures were crucial in preventing individuals with criminal backgrounds from participating as […]
The US’ Securities and Exchange Commission (SEC) has adopted rules to enhance and standardize climate-related disclosures by public companies and in public offerings. The final rules, which were adopted on Wednesday,reflect the Commission’s efforts to respond to investors’ demand for more consistent, comparable, and reliable information about the financial effects of climate-related risks on a […]
The Central Bank of Nigeria (CBN) on Wednesday aligned its position with the Corporate Affairs Commission’s (CAC’s) that all agents within the Fintech mobile payment cluster were under obligation to register their businesses. The CAC had previously directed that all Fintechs must register with the CAC before commencing business in line with the express provisions […]
Liquid C2, a Cassava Technologies firm, has announced collaborations with global technology leader Google Cloud and artificial intelligence (AI) company Anthropic to deliver advanced cloud, cyber security solutions, and generative AI (gen AI) capabilities to African businesses across the continent. The initiative by Liquid C2 following last November’s signing of a Memorandum of Understanding (MOU) […]
….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 Nigerian Communications Commission (NCC) on Monday clarified why previously connected SIM cards to subscribers’ National Identification Numbers (NINs) were blocked by mobile network operators (MNOs). The commission’s Director, Public Affairs Department, Reuben Muoka, who made this clarification when he featured on Channels Television’s Morning Brief Programme, explained that subscribers whose NINs were not properly […]
Governor of Edo State, Godwin Obaseki, has expressed some concerns about some of the monetary policies recently introduced by the Central Bank of Nigeria (CBN) based on what he considered as the potential detrimental impacts of the implementation on the nation’s economy. It would be recalled that the apex bank had last week, through its […]
Telecommunications companies in the country at the weekend disclosed that over 40 million subscribers who did not present their National Identity Numbers (NIN) in line with Nigeria’s Subscribers Identification Module (SIM) and NIN linkage policy had been disconnected from service providers’ networks. The chairman of the Association of Licensed Telecommunications Operators of Nigeria (ALTON), Engr. […]