Category: Business

CBN boosts foreign exchange market with $210m

The Central Bank of Nigeria says it has injected 210 million dollars into the inter-bank Foreign Exchange Market to meet customer’s request in various segments of the market. The CBN Director, Corporate Communications, Mr Isaac Okorafor, said in a statement in Abuja on Tuesday that 100 million dollars was offered to authorised dealers in the…

Trader Money: FG empowers 30,000 petty traders in Osun

The Federal Government has empowered 30,000 petty traders in Osun through the collateral free loans called “Trader Moni.” Vice- President Yemi Osinbajo, who spoke in Iwo at the inauguration of the empowerment programme, said the initiative was part of measures aimed at reducing poverty at the grassroots. He said that loans under the Government Enterprise…

MTN to refund $8b as CBN fines four banks N5.87b

Standard Chartered to pay N2.4b Stanbic IBTC N1.8b Citibank N1.2b Diamond Bank N0.25b MOBILE giant MTN Nigeria is to refund $8,134,312, 397.63 it illegally repatriated to the Central Bank of Nigeria (CBN), the apex bank said yesterday. The CBN said it had imposed N5.87 billion sanctions on four banks, which are to refund $8,134,312, 397.63…

MTN Nigeria Appoints Mazen Mroue as Chief Operating Officer

MTN Nigeria has announced the appointment of Mr, Mazen Mroue as its new Chief Operating Officer (COO), effective Monday, August 6, 2018. With over 22 years’ experience in the telecoms and ICT industry, drawn from various MTN operations across Africa and the Middle East, Mroue joins MTN Nigeria from MTN Irancell, where he had also…

Naira appreciates against dollar at parallel market

The Naira on Wednesday gained marginally against the dollar at the parallel market in Lagos, the News Agency of Nigeria reports. The Nigerian currency gained 50 kobo to close at N358, stronger than N358.5 traded on Tuesday, while the Pound Sterling and the Euro closed at N480 and N418.5 respectively. At the Bureau De Change…

Nigeria not out of recession – Orji Kalu

  Former governor of Abia State, Dr. Orji Uzor Kalu, has stated that Nigeria is still in recession. According to him, President Muhammadu Buhari came to power at a time there was recession all over the world, stressing that the situation was made worse by the fact that the president equally met an empty treasury.…

“Bitcoin Buyers Should Prepare To Lose All Their Money” – UK Financial Conduct Authority

The head of Britain’s financial market regulator said bitcoin is not a real currency and warned people could lose all their money if they invest. Andrew Bailey, head of the Financial Conduct Authority (FCA), told the BBC the cryptocurrency was not a secure investment and was similar to gambling. He said neither central banks nor…

Bitcoin surges closer to $12,000 mark

The price of cryptocurrency bitcoin surged to 11,800 dollars on Sunday afternoon – its highest level yet.   Bitcoin, a peer-to-peer digital currency system created in 2009 that is not propped up by a central bank, has seen its value increase ten-fold, but with dramatic fluctuations, this year.   After surpassing the 11,000-dollar threshold on…

Ryanair could offer $15 flights from the US to Europe

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Indian Music And Movie Streaming – Raising $100 Million

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Apple working on an Internet TV subscription service

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Uber banned in Germany

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Australia: controversial data retention laws

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Publishers combine forces to lure advertisers

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5 Unusual ways to stay fit and active

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World’s most stylish bookstores

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Football, made from a plane

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Robbie take long road to graduation

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Lake Oahe’s population improves

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