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Naira rebounds, gains N28.15 against dollar
The naira closed the month of April on a good footing as it gained N28.15 at the official market, trading at N1,390.96 to the dollar. Data from the official trading platform of the FMDQ Exchange, a platform that oversees the Nigerian Autono
NDIC raises Deposit Insurance coverage to N5m
Emma Ujah, Abuja Bureau Chief The Nigeria Deposit Insurance Corporation (NDIC) has increased Maximum Deposit Insurance coverage of Deposit Money Banks (DMBs) from N500,000 to N5 million. The NDIC Managing Director of the NDIC, Mr.
MAY DAY: Clearing Forwarding agencies workers task employers to prioritise talents
By Godwin Oritse The Senior Staff Association of Shipping,Clearing and Forwarding Agencies (SSASCFA) has called on employers of labour in the industry to prioritize talents of workers against technology or machinery. In a statement a
Banks close 2m accounts over BVN, NIN, others
Record 4m inactive bank account By Elizabeth Adegbesan Commercial banks in Nigeria closed 2.021 million bank accounts in the first quarter of 2024, Q124, to clean their books of questionable accounts and comply with regulatory or
FCMB Group records 186% profit growth, proposes 50k dividend
By Peter Egwuatu FCMB Group Plc has recorded a profit before tax ofN104.4 billion, a 186 per cent Year-on-Year (YoY) increase compared to N36.6 billion in 2022 and earnings growth across its business segments. Specifically, Banking G
Why PIA must be reviewed NACCIMA boss
By Yinka Kolawole and Mariam Eko The President of theNigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), Mr Dele Oye, has called for a review of the barely three years old Petroleum Industry Act, 2021 ci
Banks close 2m accounts over BVN, NIN, others
Record 4m inactive bank account By Elizabeth Adegbesan Commercial banks in Nigeria closed 2.021 million bank accounts in the first quarter of 2024, Q124, in effort to clean their books of questionable accounts and comply wit
Securities Market: Stockbrokers institute seeks support from CBN
By Peter Egwuatu The CharteredInstitute of Stockbrokers (CIS) has requested some strategic support from the Central Bank of Nigeria (CBN) to enhance financial intermediation roles of its members and boost transactions in the Nigerian securi
FG unveils $10bn diaspora investment fund
The federal governmenthas announced plans to set up a $10 billion diaspora fund to attract investment from citizens living abroad. Minister of Industry, Trade and Investment, Doris Uzoka-Anite, who disclosed this in a statement on X (former