US Embassy in Nigeria Transitions to New Visa Service Provider
This transition to a new visa services provider aims to streamline and enhance the application process for Nigerian applicants.
Category: Finance
BREAKING: CBN Increases Interest Rate to 27.65%
The Central Bank of Nigeria’s Monetary Policy Committee (MPC) has announced a significant increase in the benchmark lending rate, raising it to 27.65 percent. This decision was revealed by CBN Governor Olayemi Cardoso following the 296th MPC meeting held in Abuja on Tuesday. The MPC has consistently adopted a stringent approach to control inflation since…
Purchase me, Dangote Announces Plan to Sell Refinery to NNPC
Dangote expressed his willingness to transfer ownership of the refinery in response to allegations of monopoly within the industry.
Dangote Urges House Reps to Investigate Petrol and Diesel Quality at Filling Stations
Aliko Dangote, the President of the Dangote Group, has raised concerns about the importation of substandard petroleum products into Nigeria, which are then sold to unsuspecting consumers. During a visit to the Dangote Refinery in Lagos State by the leadership of the House of Representatives, including Speaker Tajudeen Abbas and Deputy Speaker Benjamin Kalu, Dangote…
CBN Orders Banks to Transfer Dormant Accounts and Unclaimed Balances to Central Custody
These new directives stipulate that any accounts which have remained inactive for a period of 10 years or more must be transferred to the custody of the apex bank.
Federal Government Allocates ₦3 Trillion for New Minimum Wage, Pensions, and Gratuities
The Senate, in response, expedited the readings and referred the bills to the committees on Appropriations and Finance for further legislative input, with a report expected within a week.
CBN Sells Dollars to Bureau De Change Operators at N1450 Rate Amid Forex Market Reforms
This initiative comes shortly after the apex bank sold $123 million to authorized dealers, a transaction from which the Association of Bureau De Change Operators of Nigeria (ABCON) claimed they were excluded.
Cryptocurrency exchange OKX to Cease Operations in Nigeria
Cryptocurrency exchange OKX has announced its decision to discontinue services in Nigeria, attributing the move to recent changes in local laws and regulations. The announcement, made through a direct statement to its users on Wednesday, underscores the company’s commitment to aligning its operations with the evolving regulatory landscape in the markets it serves. In the…
FG Seeks World Bank’s Assistance for $50m Solar Power Project
The Federal Government of Nigeria has approached the World Bank for $50 million in support to assist state governments in the installation of solar plants and infrastructure upgrades. This initiative is part of a broader strategy to bolster the nation’s power sector and drive economic growth. The Minister of Finance and Coordinating Minister of the…
UBA to Reward Customers with N200m in Celebratory Legacy Promo
UBA Launches Legacy Promo to Celebrate 75th Anniversary with N200m in Prizes In celebration of its 75th anniversary, United Bank for Africa Plc (UBA), Africa’s Global Bank, is set to launch the “UBA Legacy Promo” as part of its tradition of rewarding customer loyalty. This special campaign is designed to honor UBA’s rich history spanning…
