PoS Agents Frown at CAC’s Registration Mandate, Says Customers Will Pay More Some Point of Sale (PoS) agents in the FCT, have frowned at the new directive of the Corporate Affairs Commission (CAC) for them to register with the commission. CAC had on Monday issued a two-month registration deadline to PoS operators to register their […]

CBN Sells US Dollars to Banks at N1200 The Central Bank of Nigeria (CBN) sold about $42 million to deposit money banks (DMBs) at N1200 to saturate the foreign currency market supply, investment firm said in an update. Despite this huge FX sales to local lender just last week, the naira has continued to lose […]

Banks Loans Account for 35% of Industry Assets in 2023 Nigerian deposit money banks (DMBs) combined loan portfolio accounted for 35% of their aggregate total assets in the industry at the end of financial year 2023, according to rating note from Fitch. Despite expectation that the industry asset quality has come under pressures, the global […]

Transcorp President Makes MIPAD’s Global Top 100 List Amidst Impressive Q1 Results President/GCEO of Transcorp Group, Dr. Owen D. Omogiafo, OON has been recognized as one of the most influential people of African descent (MIPAD)’s Global Top 100 Futurist & Innovators List. The list recognises individuals who have made remarkable contributions to shaping the future […]

NLC Rejects CBN’s Cybersecurity Levy The Nigeria Labour Congress (NLC) has rejected the recent directive by the Central Bank of Nigeria (CBN) of 0.5 (0.005) per cent Cybersecurity Levy on electronic transfers. Mr Joe Ajaero, NLC President stated the NLC position in a statement made available to newsmen on Tuesday in Abuja. Ajaero was reacting […]

Equities Investors Lose N269bn as FBNH, GTCO, MTNN Tumble Equities investors in the Nigerian Exchange (NGX) lost about N269 billion on Tuesday following records of price decline registered by FBN Holdings, GTCO, MTN Nigeria and others. The risk off sentiment has persisted amidst mixed earnings performance released by companies in the first quarter of 2024. […]

US Sanctions Senior Leader of LockBit Ransomware Group The United States (US) has designated Dmitry Yuryevich Khoroshev, a Russian national and a leader of the Russia-based LockBit group, for his role in developing and distributing LockBit ransomware. In an official statement, Treasury said this designation is the result of a collaborative effort with the U.S. […]

Prioritise Quality Control, Gov’s Adviser Urges Materials Testing Lab Mr Olufemi Daramola, Special Adviser to Gov. Babajide Sanwo-Olu on Infrastructure, has urged the Lagos State Materials Testing Laboratory  (LSMTL) to attach special importance to its quality control role and use it to prevent building collapse. Daramola made the emphasis at a news briefing to commemorate […]