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 […]
The Nigerian National Petroleum Company Limited (NNPCL) has reported a profit of N2.548 trillion in 2022, which is the highest return on its investment since commenced operations in 1977. The profit as reflected in the company’s ‘2022 Financial Performance Report’ posted online represented a 277.8% increase over the N674.1 billion profit recorded in the 2021 […]
The Nigeria Deposit Insurance Corporation (NDIC) has flawed the decision of the Investments and Securities Tribunal (IST) on case No. IST/OA/03/19 between Winners Medical Diagnostics Ltd and Ecobank, saying the Tribunal misconstrued and consequently misapplied the clear provisions of the relevant laws governing bank liquidation in Nigeria. The corporation’s stance on the decision was expressed […]
The Registrar-General of Corporate Affairs Commission (CAC), Mr. Garba Abubakar, on Wednesday disclosed that the commission collected more than N19 billion as Internally Generated Revenue (IGR) last year, despite the COVID-19 pandemic’s disruptions to economic activities nationwide. Abubakar, during a media chat in Abuja, explained that in spite of the COVID-19 pandemic, the commission recorded […]
The Corporate Affairs Commission (CAC) has given registered companies up till March 31 to validate their bank accounts or get sanctioned. The Its Registrar General of the commission, Mr. Garba Abubakar, threatened that any company that failed to comply with the directive would not be accredited and would have to go through a rigorous process […]