Category Archives: Nigeria Economy

'Facemask Causes Failed Transactions' Banks Explain

Users of Automated Teller Machines have been urged by their respective banks that they should endeavour to remove their facemasks when carrying out transactions through the machine to ensure that their faces are properly recognised in order to prevent failed transactions. This which is against the wearing of face masks as a condition to enter the banking halls in this

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North is financially marginalised: ACF writes CBN

The Arewa Consultative Forum (ACF) has written to Godwin Emefiele, governor of the Central Bank of Nigeria (CBN), complaining about alleged financial exclusion of northern states. In the letter signed by Audu Ogbeh, its national chairman, the ACF said the north is “unserved and underserved” despite its status as the most populous region in the country. The former minister of

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China, Morocco, Iran, and seven OTHER countries that have banned crypto trading

Cryptocurrency is a digital currency that can be used to buy goods and services, but uses an online ledger with strong cryptography to secure online transactions. It has become a widely accepted means of payment, with greater capacity and faster settlement than other traditional financial structures. Its use has, however, been prohibited in some countries. An instance is Nigeria, which

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‘Thank you President’ — Okonjo-Iweala hails Buhari as US backs her for WTO

Ngozi Okonjo-Iweala has expressed her gratitude to President Muhammadu Buhari and Nigerians for their unflinching support for her run to become the director-general of the World Trade Organisation (WTO). Okonjo-Iweala had beaten seven other candidates to emerge the most preferred candidate for the much-coveted office, gaining the support of the US government on Friday. Expressing her gratitude to the US,

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CBN shuts down cyptocurrency exchange Bank accounts

“February 5, 2021 LETTER TO ALL DEPOSIT MONEY BANKS, NON-BANK FINANCIAL INSTITUTIONS AND OTHER FINANCIAL INSTITUTIONS The Central of Bank of Nigeria’s (CBN) circular of January 12, 2017 ref FPR/DIR/GEN/C1R,06/010 which cautioned Deposit Money Banks (DMBs), Non-Bank Financial Institutions (NBFIs), Other Financial Institutions (OFIs) and members of the pubic so the risk associated with transactions In cryptocurrency refers. Father to

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Herder crisis – Sultan meets Miyetti Allah

Sa’ad Abubakar, Sultan of Sokoto, has met with the leadership of Miyetti Allah Cattle Breeders Association of Nigeria (MACBAN) over the challenges facing herders in the country. Speaking during the meeting on Friday, in Abuja, Sultan said there is need to find workable solutions to address security and socioeconomic challenges confronting members of the association. The monarch, who is the

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Lagos Bans Trucks, Trailers On State Roads In Day Time

Lagos State government has banned trucks and trailers from plying roads in the state during day time, saying that trucks and trailers are now restricted to night operations on dedicated routes between the hours of 9 pm to 6 am daily in order to avert rising massacre on roads during the daytime. The State Commissioner for Transportation, Frederic Oladeinde, made

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AKSU’s ASUU suspends strike after two days

The Akwa Ibom State University (AKSU) chapter of the Academic Staff Union of Universities (ASUU) has conditionally suspended its strike. On Sunday, the varsity’s lecturers ceased academic activities over the institution’s percentage-based payment of salaries for 11 months. They also demanded better conditions of service. According to PUNCH, Ime Okop, a representative of the union, on Tuesday, said the union’s

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Banditry: unknown gunmen ‘kill PDP leader in Niger, abduct his three daughters’

Gunmen, suspected to be bandits, have killed a man identified as Ahmodu Mohammed, said to be a chairman of the Peoples Democratic Party (PDP) in Kampala ward, Bosso local government area of Niger state. Three daughters of the deceased were also reportedly kidnapped by the gunmen. Mohammed was said to have been killed on Thursday when the attackers, said to

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I did NOT call for a coup — Kukah

Matthew Kukah, bishop of Sokoto Catholic diocese, says he only expressed his personal view “based on evidence” and did not call for a coup in his criticism of President Muhammadu Buhari. While accusing Buhari of nepotism in his Christmas message on Friday, the priest said there could have been a coup if a non-northern Muslim commander-in-chief does a fraction of

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