The fresh move by some Deposit Money Banks to re-circulate old N500 and N1,000 notes suffered a setback on Tuesday as motorists, fuel stations, retailers, traders, and other categories of bank customers rejected the old currencies.
The development came about 48 hours after some commercial banks, particularly Guaranty Trust Bank Plc, Zenith Bank Plc and Sterling Bank, began the disbursements of the…
Following the Supreme Court judgment, which extended the validity of the Central Bank of Nigeria currency redesign policy to December 31, some banks across the country have started paying out the old N500 and N1,000 notes to customers.
Guaranty Trust Bank, Polaris Bank and…
The First City Monument Bank has expressed its delight in Babban Gona, a Nigeria-based high-impact social enterprise, for winning the Schwab Award for Social Entrepreneurship at the World Economic Forum annual meeting which held in Davos, Switzerland.
Babban Gona is an…
The Housing Development Advocacy Network has appealed to the Central Bank of Nigeria to give waivers to mortgage banks in the cash withdrawal limit policy.
The report titled “How CBN is underdeveloping the Nigerian mortgage sector” noted that appeals made to the CBN for a waiver of the policy and the request that primary mortgage banks’ withdrawals be treated as bank-to-bank transfers had…
PHANTOM V Fold offers a 120Hz flagship dual screen, and a powerful 5-lens photography system for an unparalleled crease-free large-screen experience.
Yesterday, TECNO’s premium sub-brand, PHANTOM, launched a new flagship smartphone, the PHANTOM V Fold, marking the…
The Central Bank of Nigeria has approved in principle for Zenith Bank to operate as a financial holding company.
In a statement signed by the Company Secretary, Michael Otu, on Friday, the bank revealed plans to change its organisational structure.
With this change, the…
To shore up its capital base, Wema Bank has issued a N25 billion bond to targeted investors.
In a corporate notice signed by the Company Secretary, Johnson Lebile, on Thursday, the bond will not be listed on any security exchange.
Part of the notice read, “Wema Bank Plc decided on the issuance of the bonds as a means of shoring up its capital base to facilitate the bank’s business of lending…
The Central Bank of Nigeria has given approval in principle to Zenith Bank to operate as a financial holding company.
In a statement signed by the Company Secretary, Michael Otu, on Friday, the company revealed plans to change its organisational structure.
With this…
NBCUniversal, is acquiring a 30% stake in Showmax, MultiChoice’s video platform.
March 3, 2023
American media giant, NBCUniversal, is acquiring a 30% stake in Showmax, MultiChoice’s video platform.
As part of the deal, MultiChoice announced the formation of Earth UK Holdings Limited (EarthCo) to act as Showmax’s parent company.
In exchange for a 70% stake in…
Kenyan court released Sh6.6 billion ($51.9 million) belonging to Nigerian fintech startup, Flutterwave
March 3, 2023
A Kenyan court on Monday, February 27, 2023, released Sh6.6 billion ($51.9 million) belonging to Nigerian fintech startup, Flutterwave. This came after the Asset Recovery Agency of Kenya withdrew its case against the startup.
Last year, the Asset Recovery Agency filed charges against Flutterwave, demanding the court to freeze monies belonging to the startup. The ARA alleged that the funds were…