Cash scarcity: CBN suspends processing fees on cash deposits
In a bid to alleviate the ongoing cash scarcity crisis in Nigeria, the Central Bank of Nigeria (CBN) has announced the temporary suspension of processing fees on cash…
Section
Business
Nigerian business and economy news: the naira, CBN policy, inflation, oil and gas, banking, markets, budgets and companies.
Fidelity, Zenith, Access makes list of most Capitalized Banks in Q3 2023
Leading financial institution, Fidelity Bank, has been listed as one of most capitalized banks in Nigeria based on Q3 2023 financial results. According to an article…
More woes for Nigerians as local flights skyrocket to N250,000 for economy seats
Air travellers across select routes in Nigeria are experiencing soaring airfares, reaching unprecedented highs that threaten to impede travel during the festive season. Indigenous airline operators…
Naira scarcity hits Abuja as ATMs fail to dispense cash
Some parts of the Federal Capital Territory, FCT, are beginning to experience paucity of the Naira as Nigerians approach Christmas. No fewer than seven commercial banks…
Court freezes 24 bank accounts of Kano Government over N30 billion compensation dispute
A Federal High Court sitting in Abuja has issued a garnishee order, freezing at least 24 bank accounts belonging to the Kano State Government over N30…
PoS operators raise alarm over N30,000 tax imposed by state governments
Point-of-sale operators in Nigeria have raised the alarm that some state governments have started charging them at least N30,000 in taxes annually per agent. The National…
P&G stops production in Nigeria, says business environment ‘challenging’
An American multinational consumer goods firm, Procter & Gamble, popularly known as P&G, has announced that it is winding down its on-ground presence in Nigeria. The…
N27.5trn 2024 Nigeria’s budget too small – Budget office
The Director-General of the Budget Office of the Federation, Ben Akabueze, says the N27.5trn 2024 budget estimates awaiting approval at the National Assembly is “way too…
BREAKING: Cash crunch hits Ondo, Edo, Kwara, Delta, Plateau, Jigawa, Osun
Some states are experiencing cash crunch as the Automated Teller Machines (ATMs) no longer dispense money and banks ration cash withdrawal Over The Counter (OTC) by…
Ooni Of Ife Visits Ex-CBN Governor Emefiele In Kuje Prison, Seeks His Release
The Ooni of Ife, Oba Adeyeye Enitan Ogunwusi Ojaja II, on Tuesday visited the embattled former governor of the Central Bank of Nigeria (CBN) in Kuje…