The President of the Senate, Senator Ahmad Lawan has said that President Muhammadu Buhari will on Tuesday sign the 2023 appropriation bill. He stated this to State House correspondents on Friday after a closed-door meeting with the president at the Presidential Villa, Abuja. Lawan also disclosed that he discussed some national issues with the President, including the legislature’s support to ...

The total number of Point of Sales (PoS) machines deployed by merchants and individuals across Nigeria hit 1.6 million in November 2022. This is according to the data released by the Nigeria Inter-Bank Settlement System (NIBSS) and seen by Nairametrics. The NIBSS report showed that a total of 703, 208 PoS terminals were deployed in the past eleven months (between ...

To underscore its unwavering support for energy transition in Nigeria and to help businesses in the country to overcome the challenges posed by the rising costs of petrol and diesel in the country, Wema Bank PLC is making loans available for SMEs that desire to purchase clean and renewable energy solutions like solar panels, inverters, and batteries. This will be ...

The Central Bank of Nigeria (CBN) has caved in to pressures on the controversial withdrawal limit it introduced by making upward review. The apex bank said individuals can now withdraw N500,000 cash weekly and up to N5 million for corporate entities from 9th January, 2023. In a circular issued on Wednesday and signed by the Director of Banking Supervision, Haruna ...

The Director General of the Securities and Exchange Commission (SEC), Mr Lamido Yuguda, said that the Commission recognizes the disruption of fintech in the financial industry and is committed to creating an enabling regulatory environment that would ensure a balance between investor protection and technological advancement. Disclosing this in Abuja, Yuguda said SEC will advance efforts towards developing a comprehensive ...

The Presidency has said no date has been fixed for President Muhammadu Buhari to meet with a delegation of Nigeria Governors Forum (NGF) over their rejection of the N100,000 and N500,00 cash limit for indidviduals and corporate organisations recently announced by the Central Bank of Nigeria (CBN). A presidential source said President Buhari’s itinerary is not known having just returned ...

As Nigeria continues to battle with rising inflation and rising poverty, the Governor of Kaduna State, Nasiru El-Rufai has warned that Nigeria will end up like Sri Lanka if it does not  tackle the issue of exchange rate alignment and remove fuel subsidy. The Governor raised this concern  at the World Bank’s Nigeria Development Update and Country Economic Memorandum in ...

Data from the Nigeria Inter-Bank Settlement System (NIBSS) shows that bank customers in Nigeria transferred a total of N2.1 trillion over mobile in November 2022. The November figure brought the total mobile inter-scheme transactions on the NIBSS platform to N16.9 trillion in the last 11 months. The value of transactions in November is also the highest monthly record on the ...

The Senate yesterday urged the Central Bank of Nigeria (CBN) to considerably adjust its recent cash withdrawal limit policy in response to public outcry against the move. The upper chamber also mandated its Committee on Banking, Insurance and Other Financial Institutions to “continue to embark on aggressive oversight of the (apex) Bank on its commitment to flexible adjustment of the ...

Africa’s foremost conglomerate the Dangote Group won the coveted ‘ Overall Most Responsible Business’ Award, just as three of its subsidiaries clinched awards at the 16th edition of the Sustainability, Entrepreneurship and Responsibility Awards (SERAS) held at the Oriental Hotel, Lekki, Lagos. At the well-attended event, which drew stakeholders across the industrial sector who had earlier submitted a record 151 ...