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Minister of Power, Abubakar Aliyu
Business

Nigeria electricity cheapest globally – FG

The Minister of State for Power, Abubakar Aliyu, has claimed that electricity consumption in Nigeria is the cheapest in the world and is highly subsidized by the federal government. According to The Punch, the minister revealed this on Thursday in Abuja during an interactive session with the Senate Committee on Power and heads of various […]

Nollywood actor PawPaw becomes TAJBank brand ambassador
Banking

Nollywood actor PawPaw becomes TAJBank brand ambassador

Popular actors, Osita Iheme (Pawpaw) and Saratu Daso have been named brand ambassadors by TAJBank Limited, the nation’s top non-interest banking services provider. According to the Nigerian Tribune, this was done as part of its ongoing marketing initiatives to increase financial inclusion and public awareness of its services. The bank’s managing director and chief executive […]

Iconic Italian sports car maker, Ferrari, has reported a 27% increase in Q1 core earnings, surpassing expectations
News

Ferrari earnings rise 27%, orders booked until 2025

Iconic Italian sports car maker, Ferrari, has reported a 27% increase in Q1 core earnings, surpassing expectations and indicating a strong demand for luxury vehicles that are expected to last until at least 2025. CEO Benedetto Vigna stated that the company’s order book is already extending into 2025, thanks to the success of the award-winning […]

Standard Chartered Bank appoint Olukorede Adenowo new CEO
Banking

Standard Chartered Bank appoint Olukorede Adenowo new CEO

Olukorede Adenowo has been named the new CEO of Standard Chartered Bank Nigeria Limited. Nairametrics reported that this appointment follows his recent promotion to Executive Director of Corporate, Commercial, and Institutional Banking Business in Nigeria, according to a press release. Adenowo had the combined task of managing the bank’s business interest in Senegal while serving as […]

SEC to enforce stricter regulations for digital assets
Business

SEC permits security dealers to create digital platform

The Securities and Exchange Commission has granted the National Association of Securities Dealers permission to start implementing its Digital Securities Platform as part of the Regulatory Incubation initiative. NASD Plc is an Over-the-Counter securities exchange that enables trading of all securities of unquoted firms, especially in Nigeria. The SEC created the Regulatory Incubation program to meet the […]

South Africa unveils new currency notes
Business

PHOTOS: South Africa unveils new currency notes

South Africa’s apex bank, South African Reserve Bank, has unveiled new designs for the country’s legal tender. This was during the launch event held on Wednesday at the Nelson Mandela Foundation in Johannesburg. The Reserve Bank governor, Lesetja Kganyago, disclosed the new rand notes and coins will have enhanced security features to prevent counterfeiting. The […]

IMF logo
Business featured

IMF director warns against retail e-currencies

The Managing Director of the International Monetary Fund, Kristalina Georgieva, has expressed her concerns about the potential risks associated with retail central bank digital currencies. In an interview at the Milken Institute’s 2023 Global Conference on May 1, Georgieva stated that retail CBDCs could have far more room for error than wholesale CBDCs. She explained […]

Minister of Communications and Digital Economy, Isa Pantami
Business

Pantami urges firms to disregard telecom tax

The Minister of Communications and Digital Economy, Isa Pantami, has urged stakeholders in the telecom industry to disregard any attempt to impose a five per cent excise duty on telecom services. The Punch reported that Pantami emphasised the sector’s exemption from excise duty tax with approval from the President, Major-General Muhammadu Buhari (retd). According to […]

Chartered Institute of Taxation of Nigeria
Business

CITN tasks inductees to enhance taxation knowledge

The President of the Chartered Institute of Taxation of Nigeria, Mr Adesina Adedayo, addressed new inductees at the 48th induction ceremony of the CITN in Lagos, encouraging them to enhance their knowledge of global taxation. According to The Punch, Adedayo emphasized the importance of tax professionals staying informed on the newest developments in the tax […]

Lasaco Assurance
Business featured

Lasaco Assurance’s premium hits N14bn

Lasaco Assurance Plc has experienced steady growth over the past three years with gross premium income rising from N10.96bn in 2020 to N13.91bn in 2022. According to the company’s financial statement, “This positive development is reflected in the company’s gross premium income, which surged from N10.96bn in 2020 to N13.91bn in 2022, signifying an increased […]

World Bank confirms Ajay Banga sole candidate for president
Business

Ex-Mastercard CEO elected as World Bank president

The Executive Directors of the World Bank have chosen Ajay Banga to be the President of the organization starting on June 2, 2023, and he will serve in this position for five years. This was revealed in a press release by the World Bank with the number 2023/077/SEC released on May 3, 2023. Before this […]

CBN places 572 bank customers on watchlist
News

CBN places 572 bank customers on watchlist

By Christian George The Central Bank of Nigeria has placed an e-payment ban on the Biometric Verification Number of not fewer than 572 bank customers for fraud related issues. This was made known by the Deputy Director, Payment System Department, Adewuyi Adeyemi during the 34th CBN seminar for finance correspondents and business editors in Calabar, […]

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