The Central Bank of Nigeria (CBN) says it has not authorised any Deposit Money Banks (DMBs) to accept the old N500 and N1,000 banknotes. The apex bank described, as false, the news going around to that effect. The news that the apex bank authorised DMBs to accept the old notes broke on Friday and went […]
The 2022 annual report of Mercedes-Benz Group AG, published on Friday, showed a modest increase in the German carmaker’s unit sales and profitability. Last year, Mercedes sold 2.45 million vehicles, against 2.32 million vehicles in 2021. The company’s EBIT (earnings before interest and taxes) rose by 28 per cent year-on-year to $21.8 billion (20.5 billion […]
President Muhammadu Buhari has directed the Central Bank of Nigeria (CBN) to release the old N200 note back into circulation. Buhari gave the directive in an early morning nationwide broadcast on Thursday in Abuja. He said CBN should allow old N200 to circulate as legal tender with the new N200, N500 and N1000 banknotes. […]
The Supreme Court says the old naira notes are still valid as Nigeria’s legal tender until the final adjudication of the case in dispute. This followed its Feb. 8 order barring the Federal Government and its agencies from enforcing the Feb. 10 deadline for the use of old N200, N500 and N1000 notes. The apex […]
Human Rights Activist, Femi Falana, criticised the Central Bank of Nigeria (CBN) for allegedly flouting the Supreme Court’s order suspending the deadline Naira notes swaps. Falana, a Senior Advocate of Nigeria (SAN), castigate the apex bank while speaking on Channels TV’s “The 2023 Verdict” on Tuesday in Lagos. He also said the Federal Government was […]
The Federal Inland Revenue Service (FIRS), has signed a Memorandum of Understanding (MoU) with Lagos Internal Revenue Service (LIRS) on joint tax audit, investigation and automatic exchange of information. Mr Johannes Wojuola, Special Assistant on Media and Communication of FIRS, announced this in a statement on Tuesday in Abuja. Wojuola said the CEOs of both […]
A Fintech player, Lai Labode, the CEO of CashToken Africa has commended the Nigerian Communications Commission (NCC) for its efficient regulatory process that has deepened Nigeria’s digital economy. Labode, in a statement by NCC’s Director of Public Affairs, Reuben Muoka, gave the recommendation at the opening of the ‘AfricaNext show’ in Lagos, on Monday. The […]
The Managing Director of Nigeria Deposit Insurance Corporation (NDIC), Bello Hassan, has predicted more microfinance banks will join National Association of Microfinance Banks Unified Information Technology (NAMBUIT) platform this year. Hassan made the prediction at the 2022 NDIC Editors Forum. The theme of the Forum is “Deposit Insurance System (DIS) and Financial System Stability’’, on […]
Dangote Industries Limited (DIL) has signed an agreement with China Sinoma International Engineering to build a cement plant in Itori, Ogun State. The plant will capacity to produce six million tons of cement per annum. Aliko Dangote alongside the Group Executive Director, Strategy, Capital Projects & Portfolio Development, DIL, Devakumar Edwin and China Sinoma Engineering, represented by […]
The Independent Marketers Association of Nigeria (IPMAN) says petrol will be available and affordable in the next two weeks. IPMAN National Operations Controller, Mike Osatuyi, gave the assurance when he was featured on Arise TV’s Morning Show in Lagos on Wednesday. Osatuyi said that marketers were putting in place measures to end fuel scarcity across […]