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Business

Osinbajo Lauds Nigerian Youths’ Enterprising Spirit

August 24, 2016
By Modupe Gbadeyanka Nigeria’s Vice President, Professor Yemi Osinbajo, has commended Nigerian youths for being creative and trying to space for themselves despite inadequate resources available to them. Prof Osinbajo, while receiving the United Nations Special Envoy on Youth, Mr Ahmad Alhendawi, at the Presidential Villa, Abuja, said the “youth enthusiasm in this country, their can-do spirit, their sheer force
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CBN Readmits UBA Into Forex Market

August 24, 2016
By Modupe Gbadeyanka The United Bank for Africa (UBA) has now been readmitted into the foreign exchange market after it was earlier barred by the Central Bank of Nigeria (CBN) from the market. In an email sent by the bank on Wednesday in Lagos, which was obtained by Business Post, UBA announced that it was now back into the forex
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SEC Proposes New Rules For Unclaimed Dividends

August 24, 2016
By Dipo Olowookere The Securities and Exchange Commission (SEC) has disclosed that it is seeking an approval to make it mandatory for any unclaimed dividends up to 12 years to be transferred into the Nigerian Capital Market Development Fund. But before this is done, the SEC has called for comments and input on the matter from stakeholders, which should be
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AfDB Okays $350m Loan For Two Nigerian Banks

August 24, 2016
By Dipo Olowookere The sum of $350 million loan has been approved by the African Development Bank (AfDB) to two banks operating in Nigeria. The two financial institutions, First Bank of Nigeria and FSDH Merchant Bank Nigeria received $300 million and $50 million respectively to support import-export activity of local enterprises. In its monthly newsletter, which was seen by Business
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FG Begins 2017 Budget Process

August 25, 2016
By Modupe Gbadeyanka The process for the commencement of next year’s budget has been approved by the Federal Executive Council (FEC). At the FEC meeting held on Wednesday in Abuja, which was presided over by President Muhammadu Buhari, the Minister of Budget and National Planning, Mr Udoma Udoma, told newsmen that the Medium Term Expenditure Framework (MTEFF) and Fiscal Strategy
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Politics

Nigerian OTC securities exchange

OTC Exchange Rises 1.17% Amid High Trading Volume

May 18, 2024
By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange recorded a 1.2 per cent appreciation on Friday, May 17 amid a large trading activity that saw three price gainers and four price losers. The market capitalisation of the OTC exchange jumped by N19.85 billion during the trading day to N1.720 trillion from N1.700 trillion and the NASD Unlisted Security Index
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Travel

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POS operators lagos

CBN Gives PoS Operators July 7 Deadline for CAC Registration

By Adedapo Adesanya The Central Bank of Nigeria (CBN) has issued a July 7, 2024 deadline for Point of Sales (PoS) operators to complete registration with the Corporate Affairs Corporation (CAC). This was revealed during a meeting between Fintechs and the Registrar-General/Chief
May 7, 2024
CBN Ways and Means

EXPLAINER: Understanding CBN’s 0.5% Cybersecurity Levy

By Adedapo Adesanya On Monday, May 6, 2024, the Central Bank of Nigeria (CBN) directed all financial institutions, including commercial banks and others to deduct a 0.5 per cent cybersecurity levy on electronic transfers as stipulated in the Cybercrime (Prohibition, Prevention, etc)
May 7, 2024
Binance

Binance CEO Warns Nigeria of Dangerous Precedent

By Adedapo Adesanya The Chief Executive Officer (CEO) of Binance, Mr Richard Teng, has called on the Nigerian government to release Mr Tigran Gambaryan, the head of the crypto exchange’s Financial Crime Compliance team, who is currently imprisoned in the country. He
May 7, 2024
NASD OTC Bourse

NASD OTC Bourse Weakens by 0.59%

By Adedapo Adesanya There was a 0.59 per cent loss at the NASD Over-the-Counter (OTC) Securities Exchange on Monday, May 7, triggered by a decline in the share prices of FrieslandCampina Wamco Nigeria Plc and Geo-Fluids Plc. FrieslandCampina declined by N5.60 during
May 7, 2024
naira value

Naira Value Improves by 3.3% to N1,354/$1 at NAFEM

By Adedapo Adesanya The Naira mounted a 3.3 per cent or N46.19 gain on the US Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Monday, May 6 as it closed at N1,354.21/$1 compared with last Friday’s rate of N1,400.40/$1. Also, the
May 7, 2024
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