Business

The Central Bank of Nigeria (CBN) Governor Godwin Emefiele has revealed that from next week, Nigerians will be able to open an eNaira wallet and conduct transactions by simply using a designated USSD code on any phone. According to him, to carry out these transactions, one will only have to dial *997# from their phones. Emefiele stated these at the ...

The Federal Government of Nigeria through the Federal Competition and Consumer Protection Commission (FCCPC) said it has made a request to Google to remove 4 loan apps being used for unethical practices from the Play Store. The apps to be removed are Maxi Credit, Here4U, ChaCha, and SoftPay. The Commission says its investigations revealed that the listed apps are owned ...

Companies leading in consumer goods in Nigeria had earned a whopping sum of N504.7196 billion as revenue in the half year of 2022, outperforming their earnings in the corresponding period of 2021 of N126.08 billion. The companies are Dangote Sugar Plc, Nascon Plc, Unilever Plc, Nestle Plc and Cadbury Nigeria Plc. According to the information contained in the half year ...

Unity Bank Plc has Introduced a new campaign aimed at women entrepreneurs, especially the underbanked, with its new retail product, the Yanga account. Through the medium, the lender plans to leverage several channels, including the traditional and digital media, to drive the adoption of the Yanga product. The Yanga account was launched last year in line with its strategic vision ...

Nigeria Exchange Limited (NGX) has approved International Breweries’ free float compliance extension request of two (2) years ending 30 July 2024. This is contained in a disclosure on approval of free float compliance extension signed by Muyiwa Ayojimi, the company secretary. According to the company, the development will enable the company to comply with NGX’s free float requirements. It stated, ...

Shareholders of Jaiz Bank Plc have unanimously approved a total dividend payout of N1.38bn for the year ended 2021, representing 4 kobo per ordinary share of 50 kobo each. The approval was given by the shareholders at the 10th Annual General Meeting (AGM) of the Bank, on Tuesday, in Abuja. This is the third year the Bank is paying dividends ...

The Federal Government has directed the National Insurance Commission (NAICOM) to deepen insurance penetration by making insurance companies develop new insurance products and policies. Minister of Finance, Budget and National Planning Mrs Zainab Ahmed gave the directive in Abuja  when the Governing Board of NAICOM visited him. She said: “There would be a need to achieve more insurance penetration in ...

The Nigeria Inter-Bank Settlement Systems (NIBSS) has said that transactions worth N204.5 trillion were performed electronically in Nigeria between January and July this year through the NIBSS Instant Payment platform (NIP). The new development shows a 40% increase in e-payments in the country when compared with N145.8 trillion recorded in the same period last year. The high increasein electronic transactions ...

The Lagos Chamber of Commerce and Industry (LCCI) has stated that the high costs of aviation fuel contributed majorly to Nigeria’s inflation rate in the month of July 2022 which rose to a 17-year high of 19.64%. This was disclosed by LCCI DG, Dr Chinyere Almona in an interview with newsmen on Monday after the inflation report was released by ...

The Central Bank of Nigeria (CBN) disbursed N75.9 billion loan to farmers between last November and December, under the Anchor Borrowers’ Programme (ABP). The fund was to support the cultivation of over 383,000 hectares of maize, rice and wheat during the year dry season, bringing the cumulative disbursements under the Programme to N927.94 billion to over 4.5 million smallholder farmers ...