NDIC Raises Depositors Coverage for Banks from N500,000 to N5m The Nigeria Deposit Insurance Corporation has announced the increase of the Maximum Deposit Insurance Coverage for banks operating within the country. At a media briefing held in Abuja, NDIC’s Managing Director, Bello Hassan, revealed the new coverage benchmarks. The[Read More…]
Wema Bank Marks 79 Years of Excellent, Service In a remarkable celebration of heritage and innovation, Wema Bank, Nigeria’s most innovative bank and pioneer of Africa’s first fully digital bank, ALAT today announced a joint celebration marking Wema Bank’s 79th years and ALAT’s 7 years anniversaries. The bank in a[Read More…]
New minimum wage: FG sets May 1 for implementation The Federal Government says although the Tripartite Committee On National Minimum Wage is yet to conclude its negotiations, workers will not lose anything as the new minimum wage will take effect from May 1, 2024. The Minister of State Labour,[Read More…]
FG approves pay rise for civil servants The Federal Government, on Tuesday, announced an increase of between 25 per cent and 35 per cent in salary increase for civil servants on the remaining six Consolidated Salary Structures. The salary increase, announced on the eve of the Workers’ Day celebration,[Read More…]
Binance Founder Sentenced to 4 Months in Prison for Money laundering Changpeng Zhao, the founder of Binance, has been sentenced to four months in prison for money laundering in Seattle, United States (US). The sentence was imposed by United States District Judge Richard Jones in Seattle on Tuesday after[Read More…]
Fuel Queues to be cleared May 1 – NNPC The Nigerian National Petroleum Company (NNPC) Limited has said that the ongoing shortfall in supply of petroleum products and queues for the products will cleared by May 1. The Chief Communications Officer, NNPCL, Olufemi Soneye, disclosed this to[Read More…]
Leadership Means Always Believing in Better – CEO, Sterling Bank Abubakar Suleiman, the Chief Executive Officer of Sterling Bank Limited, delivered an enlightening discourse on leadership during the prestigious Lagos Leadership Summit 2024, powered by the Lateef Jakande Leadership Academy, shedding light on the profound essence of effective leadership[Read More…]
Electricity Tariff: Govt can’t afford to pay subsidies – Adelabu Adebayo Adelabu, minister of power, has said the federal government could not afford to pay subsidies on power anymore due to the high indebtedness owed by the generating company. The Minister appearing before the senate committee on[Read More…]
Forex: CBN banned 4 Fintechs from onboarding new customers The Central Bank of Nigeria (CBN) has issued a directive to four fintech companies, directing them to stop signing up new customers pending further notice. The affected fintechs are Opay, Palmpay, Kuda bank, and Moniepoint. The four Fintechs have[Read More…]
FG announces $10bn Diaspora Investment Fund The federal government has announced plans to set up a $10 billion diaspora fund to attract investment from citizens living abroad. In a post on X on Thursday, Doris Uzoka-Anite, minister of industry, trade and investment, said the federal government is seeking bids from[Read More…]
