CBN spent $1.47bn defending naira in January
The Central Bank of Nigeria injected $1.47bn into the foreign exchange segment of the market as part of its efforts…
Federal Fire Service, NAICOM to enforce compulsory public building insurance
Worried by the lack of compliance to fire safety rules and fire outbreaks in Nigeria, the Federal Fire Service (FFS),…
EFCC warns Nigerians against investing in bitcoin
The Economic and Financial Crimes Commission (EFCC) has warned Nigerians against investing in bitcon, forex trading and other investments with…
Nigerian Banks Spent N551.9 billion on Employee Cost in 2020
A new report shows that in 2020, the banking sector was one of the few sectors that experienced remarkable profitability…
CBN licenses 10 more international money transfer operators
The Central Bank of Nigeria (CBN) has granted operating licences to 10 additional international money transfer operators (IMTOs) as part…
FAAC: FG, states, LGAs share N681.330bn in March
The Federation Accounts Allocation Committee (FAAC) has shared N681.33 billion as March 2021 Federation revenue to the Federal, States, Local…
CBN warns banks, BDCs against rejecting lower dollar bills
The Central Bank of Nigeria (CBN) has threatened to sanction Deposit Money Banks (DMBs) and authorised Bureau De Change (BDC)…
Businesses in Nigeria lose $29 billion yearly to poor electricity — World Bank
The World Bank says that businesses in Nigeria suffer an annual loss of $29 billion as a result of “unreliable”…
Insurtech Start-up OKO Raises $1.2 million for Innovative Insurance to Smallholder Farmers Across Africa
OKO, an Insurtech start-up that provides inclusive agricultural insurance to secure farmers’ income across Africa, has closed a Seed investment…
NAICOM revokes Unic Insurance operational licence
The National Insurance Commission (NAICOM) has cancelled the operational licence of Unic Insurance Plc. The commission disclosed this in a…