President Bola Tinubu has not asked Yemi Cardoso to resign from his position as the Governor of the Central Bank of Nigeria (CBN). This is according to the Special Adviser to the President on Information and Strategy, Bayo Onanuga, who debunked reports (not Chanels Television) suggesting that Tinubu ordered Cardoso’s …
Read More »30-Day Deadline: CBN Directs Service Providers To Commence PoS Transaction Tracking
The Central Bank of Nigeria (CBN) has directed payment service providers to begin the tracking of all Point of Sale (PoS) transactions. In a circular to all Payment Service Providers (PSPs) on connectivity to payment terminal service aggregators, the apex bank handed a 30-day deadline to PSPs to regularise with …
Read More »Nigeria, China Sign $3.3bn Deal For Industrial Park Development
Nigeria has signed a $3.3 billion agreement with China to develop the Brass Industrial Park and Methanol Complex. This was disclosed by the Ministry of Finance in a statement singed by the Director, Information and Public Relations, Mohammed Manga, on Friday. According to the statement, the agreement was signed during …
Read More »CBN Wields Big Stick, Sacks NIRSAL Executive Directors
The Central Bank of Nigeria (CBN) has terminated the appointments of all executive directors at the Nigeria Incentive-Based Risk Sharing System for Agriculture Lending (NIRSAL). This decision, approved by CBN Governor Olayemi Cardoso, on Friday, represents the latest in a series of staff reductions at the apex bank since his …
Read More »CBN Lifts Suspension On Bank Borrowing, Sets 31.75% Lending Rate
The Central Bank of Nigeria (CBN) has lifted its suspension on banks borrowing from its window, known as the Standing Lending Facility (SLF). The apex bank also pegged the lending rate at 31.75 percent sequel to tje decisions made at the 296th meeting of the Monetary Policy Committee (MPC) of …
Read More »N555m Fine: ‘No Data Was Breached’, Fidelity Bank Faults NDPC’s Allegations
Fidelity Bank has disputed data breach allegations levelled against it by the Nigerian Data Protection Commission (NDPC). In a statement on Wednesday, a spokesman for the bank, Meksley Nwagboh, said no data law was violated to warrant the imposition of a N555.8m by the commission. The NDPC had alleged that …
Read More »GTB Denies Hacking Of Website, Customers’ Data
One of Nigeria’s leading financial institutions, Guaranty Trust Bank, GTB, has clarified the story doing the rounds that its website, https://www.gtbbank.com had been hacked. In a statement entitled: “Clarifications on News Reports Regarding The Bank’s Web Domain and Customer Data”, it said: “While there was an isolated incident of an …
Read More »CBN Re-Introduces Publication Of Key Economic Reports
The Central Bank of Nigeria (CBN) has reintroduced the publication of several key economic reports, reaffirming its commitment to fostering transparency and accountability in the Nigerian economy. A statement signed by its Ag. Director, Corporate Communications, Hakama Ali On Tuesday, said the reports, including the Purchasing Managers’ Index (PMI), Business …
Read More »Kola Adesina: Celebrating Africa’s Leading Entrepreneur At 60, By Emmanuel Ajibulu
To God be the glory, a true Omoluabi of our time, Group Managing Director of Sahara Group, board Chairman of Ikeja Electric, and Chairman AXA Mansard Insurance Plc, Dr Kola Adesina MFR FNSE is now in the league of sexagenarian. Diamond jubilee is undoubtedly a milestone worth celebrating. It is …
Read More »FG’s ₦570bn Hardship Grants To States: ‘Oyo Did Not Receive Money’, Gov Makinde Reacts
The Governor of Oyo State, Seyi Makinde has denied taking part in the ₦570bn hardship grant claimed to have been given to the state governments by the Federal Government. President Bola Tinubu while addressing Nigerians in a broadcast during the #EndBadGovernance nationwide protests against hunger and hardship, said the government …
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