CBN makes fresh clarification on license revocation of four major banks
The Central Bank of Nigeria (CBN) has denied plans to revoke the operating licenses of four major banks in the country – Fidelity, Polaris, Wema, and…
Section
Business
Nigerian business and economy news: the naira, CBN policy, inflation, oil and gas, banking, markets, budgets and companies.
NOSDRA DG promise to focus on communities affected by oil spills
…..pledges to refocus agency on President’s Renewed Hope Agenda The newly appointed Director General and Chief Executive Officer of the National Oil Spillage, Detection and Response…
Nigerians lament failed transaction as ‘NIBSS suffers downtime’
The Nigeria Inter-Bank Settlement System (NIBSS) is experiencing a downtime, leading to delays in completing electronic transactions. Financial technology firms (fintechs) notified customers of the disruption…
FG Suspends Import Duty on Food Items, Others to Ease Hardship
The Federal Government has suspended import duty and other tariffs on staple food items, raw materials, and inputs for manufacturing, agriculture, and pharmaceutical products for six…
Heritage Bank: ‘No plans to withdraw licenses of banks’ CBN
The Central Bank of Nigeria (CBN) has rebuffed false allegations circulating in the public domain, suggesting that the CBN is set to revoke the licenses of…
BREAKING: CBN revokes Heritage Bank license
The Central Bank of Nigeria (CBN) has revoked the license of Heritage Bank Plc with immediate effect. This decision, it said, was to maintain a stable…
Nigerians lament as Davido’s meme coin crashes over 90% in value
Nigeria’s popular singer, David Adeleke, known as Davido, has unveiled a meme coin called $Davido on Wednesday, May 29. However, his meme coin has faced significant…
BREAKING: Huggies maker, Kimberly-Clark to stop production three years after investing $100m in Nigeria
Diaper and sanitary pad manufacturer, Kimberley Clark will soon announce an imminent shutdown of its Ikorodu production facility two years after investing $100 million in Nigeria.…
BREAKING: FCCPC initiates nationwide market investigation to tackle soaring food prices
The Federal Competition and Consumer Protection Commission, FCCPC, is currently conducting investigations across the country to uncover the reasons for the high cost of food prices…
BREAKING: CBN lays off 200 staff members
No fewer than 200 officials of the Central Bank of Nigeria were on Friday relieved of their duties. This is an addition to the long list…