The Central Bank of Nigeria (CBN) has vowed to sanction international money transfer operators (IMTOs) that are still, despite its directive, paying remittances in the local currency, naira. The bank had in December 2020 directed that IMTOs and commercial banks…
By Kayode Tokede The National Bureau of Statistics (NBS) has disclosed that average price of 1kg of tomato increased by 17.51 per cent Year-on-Year as at December 31, 2020. Accoring to the bureau, selected food price watch data for December…
By Kayode Tokede The National Pension Commission (PenCom) has vowed to punish Pension Fund Administrators (PFAs) who violate the procedures on death benefit payments PenCom has also stopped the operators from paying more inflows into deceased employees’ Retirement Savings Account…
By Kayode Tokede Naira at the Investors & Exporters Foreign Exchange ( I & E FX) window appreciated by 0.04 per cent to N394 against the dollar on Thursday. It also closed down by 3.33per cent and 3.38per cent against…
By Kayode Tokede The Central Bank of Nigeria (CBN) has disbursed N14.35 billion to electricity distribution companies (DisCos) to procure 263,860 meters for electricity consumers in the country. This was disclosed on Thursday, via the official twitter handle of the…
By Kayode Tokede Sterling Bank Plc has entered into a partnership with Mercy Corps to train more than 90, 000 farmers on better agricultural practices to improve output and grow the sector. The programme, Feed The Future Nigeria Rural Resilience…
Deposit Money Banks (DMBs) and merchant banks deposited N606.90billion with Central Bank of Nigeria (CBN) in October 2020. The apex bank revealed this in its monthly economic report for October 2020, which was posted on its website. DMBs and merchant…
The Federal Government, States and Local Government Councils (LGCs) have shared N619.343 billion as federation allocation for December, 2020. Mr Hassan Dodo, Director of Information, Ministry of Finance, Budget and National Planning announced this on Wednesday in Abuja. Dodo said…
The Group Managing Directing, Herbert Wigwe, said the lender grew its customer base to 42 million amid severe competition in the banking sector. He disclosed this during the bank’s 2021 investment and engagement forum tagged ‘Realigning for growth’ which held…
The Group Chief Executive Officer, Ecobank Transnational Incorporated (ETI), Ade Ayeyemi, has affirmed that the Pan-African banking group is facilitating smooth and instant payments across Africa as countries start the implementation of the African Continental Free Trade Area Agreement (AfCFTA).…
