Business

The Central Bank of Nigeria (CBN) has ordered banks to publish annually, the list of dormant account owners in at least two national daily newspapers. The order except for state and Unit microfinance banks, of which they are expected to publish in their premises. The CBN in a circular tagged ‘guidelines on management of dormant accounts, unclaimed balances and other…

A group of analysts at Cordros Research, have   predicated hike in interest rate by Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) by 100 basis points to 27.25 per cent next week. The committee has set to meet on 22 and 23 July, 2024, for their fourth meeting of the year. Currently at 26.25 per cent, the…

The Nigerian Exchange Limited (NGX) has announced the delisting of Niger Insurance Plc, Resort Savings and Loans Plc, and RAK Unity Petroleum Plc from the Exchange. The Exchange in a notice to trading license holders and the investing public stated that the pursuant to the provisions of Clause 15 of the General Undertaking, Appendix iii Of the Rule Book of…

The Federal Airports Authority of Nigeria (FAAN) has launched an Acculturation Programme to transform its organisational culture towards greater efficiency and excellence. During the launch event, FAAN’s Managing Director, Mrs. Olubunmi Kuku, highlighted the importance of the programme in fostering a work environment where excellence, efficiency, and integrity are paramount. The initiative, spearheaded by the Director of Special Duties, Mr.…

The Central Bank of Nigeria (CBN) has announced the approval of the sales of FX to eligible Bureau De Change (BDCs) to meet the demand for invisible transactions in a decisive step to strengthen the naira. In a circular signed by A. A Mahdi, the Acting Director, Trade and Exchange at the CBN, the bank announced that the sum of…

Access Bank Plc, was one of the participants in the launch of the Nigerian Exchange Limited (NGX) Impact Board, a dedicated platform for listing sustainability instruments to integrate sustainability into the core of Nigeria’s capital market. The event, marked by the attendance of high-profile stakeholders, including the Minister of Environment, Balarabe Lawal, and the Director-General of the Securities and Exchange…

Unity Bank Plc customers have claimed over N4 million in cash rewards in its ongoing loyalty programme recently rolled out with Cashtoken, a Cash Reward-as-a-Service company. The winners included no fewer than 40 customers who adopted and transacted on the Bank’s digital banking platforms, including the UniFi mobile banking application, the *7799# USSD platform or activated their Unity Bank Verve…

The 2024 edition of the Access Bank Distributors Forum in Lagos brought together stakeholders and business owners to gain valuable insights and practical advice for navigating the current economic landscape. Held on Wednesday with the theme “Retail Distribution Business in Africa: Exploring Cost-Effective Opportunities,” the event provided a platform for engaging with experts and established distributors in the retail industry.…

The Nigeria Employers’ Consultative Association (NECA), Manufacturers Association of Nigeria (MAN), and the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) have attributed the current socio-economic crises in Nigeria to hasty government policy shifts implemented without adequate mitigation plans. The associations expressed their concerns separately, with NECA highlighting the negative impact of major policy shifts undertaken by…

President of Dangote Group, Aliko Dangote during the  weekendd stated that his company’s aim is to become the leading supplier of foreign exchange in the FX market soon, as it targets $30 billion in revenues by the year 2025. During a tour of the Dangote Petroleum Refinery & Petrochemicals and Dangote Fertiliser Limited with media executives at the weekend, he…