BREAKING: CBN suspends charges on cash deposits until September 30, 2024
The Central Bank of Nigeria has directed banks to stop charges on cash deposits until September 30, 2024. The apex bank disclosed this in a circular…
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Business
Nigerian business and economy news: the naira, CBN policy, inflation, oil and gas, banking, markets, budgets and companies.
UPDATED: CBN exempts 16 banking transactions from cybersecurity levy
The Central Bank of Nigeria (CBN) has announced the exemption of 16 specific banking transactions from the recently introduced cybersecurity levy. The move aims to streamline…
BREAKING: CBN directs banks to charge 0.5% cybersecurity levy on all transactions
All commercial, merchant, non-interest, payment service banks and other financial institutions, among others got a directive from the Central Bank of Nigeria (CBN) to activate the payment of…
PoS operators get July 7 deadline for CAC registration
The Corporate Affairs Commission and some Point of Sale operators have agreed to protect customers’ interest. The Registrar-General of CAC, Hussaini Magaji, said this when the…
JUST IN: FG to stop naira trading on Peer-to-Peer platforms
The Federal Government has announced plans to delist the naira from all peer-to-peer (P2P) platforms. The Director General of the Securities and Exchange Commission, Emomotimi Agama,…
Nigeria to start manufacturing cars before December 2024 – FG
The federal government says that Nigeria will commence local manufacturing of vehicles before the end of this year. The Minister of Industry, Trade and Investment, Doris…
BREAKING: NDIC Raises bank depositors’ Coverage from N500,000 to N5m
The Nigerian Deposit Insurance Corporation (NDIC) has increased the maximum coverage of all deposit-taking financial institutions across all levels. Managing director of the NDIC, Hassan Bello,…
BREAKING: Hoodlums clash in Lagos, set market on fire
Hoodlums on Thursday clashed in Ile-Epo area of Lagos State, leaving many people injured. It was gathered that a fight broke out in the market situated…
BREAKING: Cubana Chief Priest arrives court for continuation of trial
Nigerian entrepreneur, Cubana Chief Priest, has arrived at the Federal High Court sitting in Ikoyi, Lagos State for the continuation of his naira abuse trial. On…
Customers panic as CBN bans Opay, Palmpay, others’ new account
Some bank customers have expressed panic as the Central Bank of Nigeria bans mobile money operators including fintech firms from onboarding new customers. However, the Bank…