The Central Bank of Nigeria has threatened to investigate, arrest and prosecute anyone spreading fake news about the naira redesign policy.
This threat was contained in a statement on Tuesday jointly signed by the CBN’s Deputy Governor, Corporate Services, Edward Adamu, and Director, Corporate Communications, Osita Nwanisobi.
The CBN in reaction to a purported press release shared on the…
Nigeria’s foreign exchange reserves fell $427.14 million this month, data from the Nigerian Central Bank showed on Monday. This is due to the fact that the currency crisis in the country was exacerbated by the shortage of new naira banknotes.
According to CBN’s…
Despite the introduction of cashless payment systems in many parts of Nigeria, Nigerian railway companies insist on paying for their operations in cash, especially on the Lagos-Ibadan route.
While other companies have explored POS services and online banking, it has been…
Lagos State governmentis set to commence rehabilitation of wastewater infrastructure in Abesan, which is structured to be executed in phases.
General Manager, Wastewater Management Office (LSWMO), Adebola M. Matanmi stated this during a meeting with the Abesan Estate Resident Association (AERA).
Matanmi informed the residents that Governor Babajide Sanwo-Olu had approved the rehabilitation of…
Many Nigerians are still paying far above N185 per litre approved pump price of petrol amid fuel scarcity, a report of the National Bureau of Statistics has indicated.
The members of the Major Oil Marketers Association of Nigeria, and NNPCL Retail outlets, sold the product…
The chaos trailing the cash scarcity has assumed a worrisome dimension with the organised private sector raising the alarm that the crisis has grounded the economy.
Members of the organised private sector including the Lagos Chamber of Commerce and Industry, Nigerian…
Stock investors lost N281bn at the end of trading on the floor of the Nigerian Exchange Limited last week.
The NGX All-Share Index and market capitalisation depreciated by 0.96 per cent and 0.95 per cent to close the week at 53,804.46 and N29.310 trillion respectively.
Also, all other indices finished lower with the exception of NGX Premium, NGX Insurance, NGX MERI Growth, NGX Consumer Goods, NGX…
Agusto & Co. Limited, a pan-African credit rating agency and business information provider has said Nigeria’s insurance industry’s 2022 gross premium will rise above N700bn from increased economic activities.
It stated this in its 2023 insurance industry report…
The Nigerian Investment Promotion Commission has commenced the development of a well- coordinated investment promotion ecosystem Act, to enable government and non-government investment promotion players to undertake mutually reinforcing and complementary roles to attract…
Ecobank has rewarded four customers with N1m each for using the electronic payment channels of the bank regularly.
During the cheque presentation at its super rewards event in Lagos, the bank said it introduced the programme to promote the use of its electronic payment channels that offered convenient banking.
The four winners are Mr John Sokeipiriala, Ahmed Said, Onashile Obafemi, and a couple…