Business

 The Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, says the Federal Government has taken practical steps to revamp the Nigerian economy over the past year. Cardoso said this recently in Abuja, at the Bankers’ Committee Retreat, with the theme: “Contract and Commitment to National Development and Economic Growth”. He said that the country was making steady progress…

The Central Bank of Nigeria (CBN) has countered a trending circular saying it authorized the sales of foreign exchange to Bureau De Change (BDC) operators in the country, describing the report as “fake”. The circular dated Tuesday, had claimed that the apex bank sold $20,000 to each legible BDC operator at N1,300 per dollar rate. It read, “Following the ongoing…

The Nigerian Communications Commission (NCC) is inviting prospective participants to register for a Domain Name System Security Extensions (DNSSEC) awareness webinar slated for Thursday, December 12, 2024, at 11:00a.m. WAT. NCC, in a notice on its facebook page, disclosed that the webinar is being organised in collaboration with the Internet Corporation for Assigned Names and Numbers (ICANN). It also stated…

The Chairman of the Nigerian Exchange Group Plc, Alhaji (Dr) Umaru Kwairanga, has said the number of investors in the Nigerian capital market was unacceptable given the population of the country. Kwairanga said this at the 2024 annual conference of the Capital Market Correspondents Association of Nigeria (CAMCAN) in Lagos. He said, “We are coming from less than 100,000 with…

Director-General, National Automotive Design and Development Council, NADDC, Mr Oluwemimo Osanipin, has said that the use of reverse engineering would help the country to start producing vehicle components locally. Osanipin stated this at Asaba during NADDC’s capacity building training on automotive components design and development in collaboration with Solidworks Corporation. He noted that  technology has changed the way business was…

The Securities and Exchange Commission ( SEC) has urged banks to strengthen their corporate governance principles and risk management framework to enhance investors’ confidence in the ongoing recapitalisation exercise. At the just concluded yearly workshop of the Capital Market Correspondents Association of Nigeria (CAMCAN) held in Lagos at the weekend, SEC Director-General, Dr Emomotimi Agama, restated the commission’s commitment towards…

The Federal Competition and Consumer Protection Commission (FCCPC) has warned Air Peace airline against obstructing ongoing inquiry into alleged exploitative ticket pricing among other potential violations of consumers’ rights. FCCPC in a statement issued on Sunday by its Director of Corporate Affairs, Ondaje Ijagwu, said Section 33 of the Federal Competition and Consumer Protection Act (FCCPA) 2018 grants the Commission discretionary…

Executive Vice Chairman/CEO of the Nigerian Communications Commission (NCC), Dr Aminu Maida, has clarified that smartphones consume data, even when idle.  He made the clarification in his keynote address at the the 93rd Telecoms Consumer Parliament (TCP) held in Abuja recently. The NCC EVC/CEO stated that the clarification became necessary as part of the efforts to addressing misconceptions, rising concerns…

The Naira on Friday appreciated massively at the official and parallel foreign exchange markets to end the week on a good note. The Central Bank of Nigeria (CBN)’s exchange market data showed that the Naira appreciated to N1,535 per dollar on Friday from N1,567 per dollar on Thursday. This showed that the Naira gained N32 against the dollar compared to…

A report has revealed that Nigeria’s fintech ecosystem attracted over $2 billion in investments in the year 2024. This is according to the 2024 Economic Report by the Office of the Special Adviser to Nigeria’s President on Economic Affairs (in the Office of the Vice President), dated November 2024. The report was launched on Friday at the Banquet Hall in…