Category: Business News
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IMF approves fresh round of debt relief for poor countries
The IMF has approved a fourth round of debt relief for 24 poor nations including new recipients Lesotho and Kyrgyzstan to help them weather the Covid-19 pandemic, according to a statement released Friday. The relief was provided under the Washington-based crisis lender’s Catastrophe Containment and Relief Trust (CCRT), which enables the IMF to provide grants…
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At UBA, Customer Satisfaction Remains our Number one Priority – Uzoka
The Group Managing Director/Chief Executive Officer, United Bank for Africa (UBA) Plc, Kennedy Uzoka, has said that the main priority for every staff in the bank is to always ensure customer satisfaction. This, he said, is crucial for every forward-thinking organisation such as UBA, as the customer remains the undisputed employer. In a message to…
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Africa has greatest yield for Return on Investment – Obasanjo
Former President Olusegun Obasanjo has called for more investments in Africa, stressing that the continent is in dire need of funding to develop critical sectors.
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CBN postpones launch of ‘E-naira’, keeps mum on new date
The Central Bank of Nigeria (CBN) has postponed the official launch of its digital currency, the E-naira.
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CBN places N1m limit per transaction on eNaira as platform officially goes live October 1
The Central Bank of Nigeria (CBN) has placed a N1 million per deal limit on its eNaira transactions.
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Yongxing Steel Challenges Foreign Investors In Nigeria
A Chinese steel manufacturing firm, based in Ogua community, on the outskirts of Benin City, Edo State, has thrown a challenge to fellow foreign companies operating in the country, to be patient with Nigeria and not to run away because of the country’s current difficulties. In an address during an interactive session with the…
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China declares cryptocurrency transactions illegal
China’s central bank on Friday said all financial transactions involving cryptocurrencies are illegal, sounding the death knell for digital currencies in China after a crackdown on the volatile trade.
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FG, States, LGs share N696.965bn revenue for August
The Federation Accounts Allocation Committee (FAAC) has shared a total of N696.965 billion as federation allocation for the month of August.
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Aboki FX insists on full operations despite CBN threats
Popular online foreign exchange update platform, Aboxi FX has said it will continue operating at full functionality but will stop publication of daily foreign exchange rates. TheNewsGuru.com, TNG reports that the development is not unconnected to complaints by the Central Bank of Nigeria (CBN) that the platform is responsible for the current crisis in the…
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JUST IN(+Video): CBN declares Oniwinde, owner of AbokifX wanted for ‘manipulating’ Naira exhange rates
The Central Bank of Nigeria (CBN) has declared Oniwinde Adedotun, founder of AbokiFX, wanted. AbokiFX is a website that publishes the parallel market exchange rate of the naira against other currencies. Godwin Emefiele, CBN governor, while speaking today, September 17, at the end of the 280th Monetary policy meeting (MPC) meeting of the apex bank…