The Central Bank of Nigeria may fine banks hoarding new notes a sum of N5m and members of the public selling the new notes N50,000.
This was based on the Central Bank of Nigeria Act of 2007 and the Banks and other Financial Institutions Act of 2020.
According to the Banks and other Financial Institutions Act, 2020, the CBN governor may propose to alter, rescind or enforce fresh or more conditions…
Over 50 per cent of Point of Sale operators have closed their shops as scarcity of new and old naira notes bites harder, it has been learnt.
The National Chief Aggregating Officer of the Association of Mobile Money and Bank Agents in Nigeria, Hussein Olanrewaju, who…
A former teller at Sterling Bank, Gift Akpan, left the shores of Nigeria for the United States to pursue her dreams. Gift told The PUNCH that she had always wanted to travel but decided to gain hands-on experience in the local job market first and raise money to facilitate…
Managing Director/Chief Executive Officer, Fidelity Bank Plc, Mrs. Nneka Onyeali-Ikpe has been presented the award of the Banker of the Year 2022 at the 14th Leadership Annual Conference and Awards.
Organized by Leadership Media Group, publishers of Leadership newspapers, the colourful ceremony was held at the Abuja International Conference Centre on Tuesday, 31 January 2023. The well-attended…
A digital bank, Hope PSBank, a Unified Payment Services Limited subsidiary, has commenced a community inclusion initiative to support the Central Bank of Nigeria’s naira redesign policy.
Speaking at a press conference to unveil the initiative on Friday, the Managing…
Liability is defined by Merriam-Webster as the amount of money owned by an individual or entity. Debt burden can be a huge problem for individuals and businesses in Nigeria as it can lead to financial hardship and even bankruptcy. In recent years, as the popularity of…
VerifyMe Nigeria CEO Eshigie Aguele said the lack of a trust infrastructure is hindering the growth of small and medium enterprises (SMEs) in Nigeria.
In a statement provided to The PUNCH on Thursday, Aguele made the announcement while serving as a special guest on the Fidelity SME forum.
He said: “One of the biggest barriers to small business growth in the United States is the lack of…
Director of the Nigerian Maritime Authority Dr. Bashir Jamoh called for more private sector involvement in the Blue Economy Initiative to reap more benefits from the maritime industry. As a guest speaker at the Lunch hour Lecture Series hosted by the Academy of Excellence in…
Nigerian Central Bank Governor Godwin Emefiele urged Nigerians to understand, adding that the revised banknotes would be circulated and made available.
Apex Bank also ended commission sales on Feb. 10, pledging to replace old Naira banknotes with a new approach.
On Friday…
The Federal Government, on Thursday, said a total of 139 investors had shown readiness to monetise the gas flares from the 48 flare sites across the country.
It disclosed this at the 2022 Nigerian Gas Flare Commercialisation Programme Bidders Conference and Investors Forum, organised to intimate all qualified applicants, partners, sponsors and technology providers on the structure of the…