681 articles published since 06 Dec 2024
Nigerian banks face a recapitalisation deadline by 2026, with the CBN enforcing strict rules to guide the sourcing of funds. Some banks may downgrade by 2026.
After achieving one month of uninterrupted power supply, Aba Power Plc has now partnered meter vendors to ensure that all 350,000 customers get metered.
New milestone achieved. Aba Power has gone down history as first disco to achieve almost one month of uninterrupted power supply in Nigeria in recent times
CBEX earlier restricted withdrawals claiming that it had run into a security breach, and later asked users for additional deposits to verify their accounts.
After deporting over 200 Nigerians from the US, the Department for Homeland Security is going after more foreign nationals, and has announced heavy penalties.
With oil revenues falling and the naira under renewed pressure, economists are warning of deeper macroeconomic challenges ahead. Naira has depreciated again.
Keep in mind that the government is also set to commence direct flights to other countries like Tunisia and Algeria, as part of measures to deepen bilateral ties.
The SEC statement also issued a directive to businesses already operating in this space, or planning to set up an online foreign exchange trading platform.
Where the former Investments and Securities Act (2007) had no clear penalties for Ponzi and illegal scheme operators, the new ISA 2025 recommends heavy sanctions.
Ruth Okwumbu
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