Naira sells N763/$ at CBN window, trading rises The naira has appreciated by 0.68 per cent against the United States dollar on the Investor & Exporter forex window. The local currency closed at N763/$ on Tuesday, compared to N768.17/$ at the close of trading on Monday. There was no trading[Read More…]
CBN sets new transaction limits on contactless payments The Central Bank of Nigeria (CBN) has set new transaction limits on contactless payments after issuing guidelines for commercial banks and other financial institutions to adopt. In a statement released on Tuesday, the CBN said contactless payments are now limited to[Read More…]
World Bank plans additional $750mn electrification project in Nigeria The World Bank has disclosed plans to commit additional $750 million to deepening Nigeria’s access to electricity, through the Nigeria Electrification Project (NEP). BusinessDay reports that, World Bank Director of Strategy and operations for Western Central African Region, Elizabeth Huybens,[Read More…]
Sterling Bank, SMEDAN To Create Nigeria’s Largest SME Database One of Africa’s fastest-growing companies, Sterling Bank, has recently signed an agreement with the Small & Medium Enterprises Development Agency of Nigeria (SMEDAN) to establish a comprehensive database of Small and Medium Scale Enterprises (SMEs) in Nigeria. This will help in[Read More…]
Tinubu renames airports after Buhari, Awolowo, Okadigbo, others President Bola Tinubu has announced the renaming of several federal airports after some prominent leaders in Nigeria. The Airport renaming was announced in a memo released by the Federal Ministry of Aviation and signed by the Director of Airport Operations,[Read More…]
Sterling Bank Accelerates Nigeria’s EV Race With Qore Nigeria’s leading commercial bank and one of Africa’s fastest-growing companies, Sterling Bank, has changed the course of Nigeria’s energy and transportation sectors with the launch of Qore; its suite of renewable energy-powered transportation solutions. A statement by the bank said, Qore will[Read More…]
Turkey, UK hike interest rates Turkey’s central bank on Thursday delivered a large interest rate hike. This signaled a shift toward more conventional economic policies to counter sky-high inflation. It came at the bank’s closely watched first interest rate-setting meeting since Erdogan appointed two internationally respected officials to lead[Read More…]
Hyde Energy inaugurates LPG facility An indigenous energy trading company, Hyde Energy Limited, has inaugurated a new Liquefied Petroleum Gas (LPG) facility in Makurdi, the Benue State capital. The facility, with a capacity of 40MT, is expected to create jobs and boost the economy of the state, is located[Read More…]
Tinubu signs New Global Financial Pact for investment in Paris President Bola Tinubu has signed the New Global Financial Pact in Paris, France, after visiting the European country for a summit that bares a similar name to the agreement. The New Global Financial Pact was drafted to prioritise vulnerable countries[Read More…]
CBN urges tertiary institutions to embrace e-Naira The Central Bank of Nigeria (CBN) has urged students and management of tertiary institutions in the country to adopt e-Naira for payment of tuition fee, salary and other transaction. The Assistant Director, CBN Ekiti State branch, Mr. Ayodeji Adeboboye gave the[Read More…]
