By Esther Agbo OPay, a prominent Nigerian fintech company has confirmed that its customers’ deposits are now insured up to N5 million, in line with the Nigeria Deposit Insurance Corporation (NDIC) industry standard. In a statement released on Sunday, OPay…
Demand deposits have jumped by 206.83 percent from N9.67 trillion in May 2019 to N29.67 trillion this year’s May, according to data from the Central Bank of Nigeria’s website. The data showed that the country’s demand deposits grew by 9.31…
…Extends probe panel’s deadline by two months The Senate has approved an additional two months for the Ad-hoc Committee investigating the N30 trillion Ways and Means facilities granted to the Federal Government by the Central Bank of Nigeria (CBN) between…
Access Bank, Africa’s leading full-service commercial bank, has partnered with the British Council for the seventh edition of the British Council Recognition and Outstanding Cambridge Learner Awards (BROCLA). The partnership is in line with Access Bank’s commitment to supporting the…
Nigeria’s debt to the World Bank has increased by $1.07 billion under President Bola Tinubu’s administration. According to an analysis of data from the Debt Management Office (DMO), the debt rose from $14.51 billion at the end of the second…
By Esther Agbo The Federal Ministry of Finance and the Ministry of Budget and Economic Planning hosted a high-level delegation of Canadian investors in Abuja today, highlighting Nigeria’s commitment to fostering economic cooperation and attracting foreign investment. The meeting was…
By Seun Ibiyemi The Central Bank of Nigeria has warned authorised forex dealers against defacing/stamping US Dollar banknotes and continued rejection of old series and lower denominations of the United States of American dollars by its regulated entities in Nigeria.…
Wema Bank, the pioneer of Africa’s first fully digital bank, ALAT, has charged stakeholders to prioritise digital empowerment for MSMEs as a measure for championing a sustainable MSME ecosystem in Nigeria. The charge was made at the International MSMEs Day…
The Securities and Exchange Commission (SEC) has announced plans to impose a N1 million penalty on banks failing to submit complete capital raise applications in line with banking sector recapitalisation guidelines. In a statement released, SEC emphasised that banks must…
…Offers N100m in grants and mini-MBA scholarships By Opeyemi Abdulsalam Access Bank has opened applications for its Womenpreneur Pitch-a-ton programme, aimed at empowering female entrepreneurs. This year’s programme will award 120 winners with business grants and a certified mini-MBA programme…
