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Silicon Valley Bank
Business

Shareholders sue Silicon Valley Bank, CEO, CFO for fraud 

Silicon Valley Bank Financial Group, the Chief Executive Officer, and Chief Financial officer were sued on Monday by shareholders. Reuters reported that the shareholders accused them of concealing that the Silicon Bank of Nigeria which collapsed on Friday was “particularly susceptible” to bank run due to rising interest rates. The federal court in San Jose, […]

A photo of President Buhari and the redesigned note
Business featured

Old naira: Buhari never told Emefiele, Malami to shun S’Court order, says presidency

Juliet Buna   The Presidency has denied allegations that it ordered the Attorney general and Central Bank of Nigeria to defy the Apex court’s order. According to a release by the Garba Shehu Senior Special Assistant to the President, Garba Shehu said the President Major General Muhammadu Buhari (retd), has not done anything knowingly and […]

Logo and the photo of the Central Bank of Nigeria's building
News

CBN disowns Soludo’s old naira statement

The Central Bank of Nigeria has debunked claims of ordering banks nationwide to begin dispensing and accepting old naira notes.   This development on Monday is coming after a former CBN governor, Chukwuma Soludo, had written through his social media handle that the CBN governor, Godwin Emefiele, in a Bankers’ Committee meeting on Sunday had […]

Silicon Valley Bank
Business

Oil prices fall after Silicon Valley Bank collapse 

The close down of Silicon Valley Bank has raised fears of new financial crises as oil prices fell on Monday along with equities. Reuters reported that Brent crude fell by 1.7 percent to $81.34 per barrel by 10.01am GMT. West Texas Intermediate crude dropped by 1.8 per cent, to $75.28 a barrel. The fear of […]

SEC confident PAPSS'll boost trading opportunities in Africa
Business

SEC confident PAPSS’ll boost trading opportunities in Africa

The  Securities and Exchange Commission has said that the Pan-African Payment Settlement System would promote intra-African commerce and aid in the diversification of the capital market. According to Nairametrics, the head of the SEC’s Office of the Chief Economist, Dr. Okey Umeano, said this in an interview. A Memorandum of Understanding was recently signed between the Nigerian Exchange and the […]

The old 500 and 1000 naira noted
Business

Naira scarcity: Cashless transactions drop to N37.67tn

Cashless transactions which is also referred to as online transaction fell to N37.67tn in February 2023 because of delayed and failed money transfers. The new data accessed from the Nigeria Inter-Bank Settlement System on Monday by The Punch revealed it was a 4.83 per cent fall from the N39.58tn recorded in January. Despite the fact […]

EU invests €3bn, generates 160,000 jobs in Nigeria yearly - Ambassador
Business

UK businesses urge EU to reduce energy prices

European businesses have urged European Union to lower energy prices and ease policies to stop industries from leaving the country. This statement was made on Monday, as Brussels prepared plans to accelerate the green economy. The EU is driving towards Europe’s enhanced attractiveness to companies and industries who may be want to move to United […]

Building representing Real Estate
Business

Real estate firm, bank build market for electrical, building materials dealers

A real estate company, M. I. Okoro and Associates, has announced its partnership with Polaris Bank to build market and relocate about 2,000 electrical and building materials dealers in Rivers State. According to the Founding Partner, Meckson Okoro, in a briefing with journalists in Lagos, plans are in progress to relocate traders selling in Okija, […]

Emefiele orders banks to dispense old naira notes - Soludo
featured

Emefiele orders banks to dispense old naira notes – Soludo

By Christian George The Central Bank of Nigeria has mandated commercial banks to dispense and accept deposits of old N500 and N1000 naira notes. This was made known by the governor of Anambra State, Prof Charles Soludo on Monday via his social media handle. The former CBN governor said commercial banks are to dispense and […]

FAAN shuts Lagos airport runway for eight weeks
Aviation

  Kazeem Owoseni   The Federal Airport Authority has announced to the general public that runway 18R/36L of the Muritala Muhammed International Airport in Lagos, has been closed. This was contained in a notification twitted on the organisation’s verified Twitter handle, this morning. According to the notice, the runway was closed, to carry out some […]

Charcoal
Business

Group to enlighten charcoal producers on tree planting

The National Charcoal Producers, Dealers and Exporters Association of Nigeria plans a consultative meeting with government agencies to enlighten charcoal stakeholders on the importance of afforestation, known as tree planting. The association disclosed this on Sunday in a statement accessed by the News Agency of Nigeria in Abuja. The National President of the association, Mr […]

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