Business

The Central Bank of Nigeria (CBN) is offering collateral-free loan of up to N3,000,000 (Three million Naira) to small businesses in a scheme called Agric-Business/Small and Medium Enterprises Investment Scheme (AGSMEIS). Eligible…

The Development Bank of Nigeria (DBN) is set to mobilise low rate and accessible funding to boost the operations and survival of Micro, Small and Medium Enterprises (MSMEs) in the country. The Managing Director of the bank, Dr Tony…

The most important source of Germany's energy source for electricity production is still coal, but the share of renewable energies has increased recently. In the first quarter of 2022, more than half, or 52.9 per cent of the total…

The Central Bank of Nigeria (CBN) has directed all Banks and Payment Service Providers to accept indemnity from customers for highly secured online funds transfers. The apex stated this in a circular signed by the Director, Payments…

A global management consulting firm, Boston Consulting Group (BCG) has revealed that Nigeria and forty-four (44) other countries around the world are severely exposed to the Ukraine war-induced food crisis. BCG, in a report titled, "The…

Recently, MTN entered full banking operation with the launch of MoMo PSB digital bank. The new service allows you easily open your own personal account in seconds, buy cards, data, and pay bills. In this article, you are going to learn…

The Central Bank of Nigeria (CBN) has debunked reports suggesting that it's planning to replace the Naira notes in circulation with digital currency, the eNaira in due course. Mr Osita Nwanisobi, CBN Director, Corporate Communication,…

Payments and digital loan firm OPay has announced a new partnership with Mastercard that will see it offer Mastercard’s virtual payment solution. The Partnership will enable OPay customers to pay on global online platforms backed by…

As the United States continue to lead in the Bitcoin mining industry, China is back in the second place as per world rankings, despite the fact that this activity was banned last year. Between September 2021 and January 2022, according…

The Federal Government of Nigeria has released a set of new regulations guiding the issuance, exchange and custody of digital assets in Nigeria. The Securities and Exchange Commission (SEC) released the new regulations in a statement…

The MTN Nigeria has set aside N174.53 billion as dividend to its shareholders whose names appeared in the Company’s Register of Members at the close of business on Wednesday, April 6, 2022, which translates to N8.57 Kobo per every two kobo…

MoMo Payment Service Bank is a fully registered limited liability compony with Corporate Affairs Commission (CAC) and licensed by the Central Bank of Nigeria (CBN) to offer financial services as outlined in the PSB Framework. This enables…

The Central Bank of Nigeria (CBN) has revealed that the country’s monthly debt service rose by $31.46m in one month to $101.29m in January 2022. According to data released on debt service repayment, the apex bank stated that figures…

The Central African Republic has adopted Bitcoin as legal tender, becoming the second country in the world to make the move after El Salvador. Lawmakers unanimously adopted a bill that made bitcoin legal tender alongside the CFA franc…

Sterling Bank has appointed the former Independent Director at First Bank of Nigeria, Olusola Oworu. Sterling Bank board appointed the former Special Adviser on Commerce & Industry to ex-Governor of Lagos State, Babatunde Fashola as…

For a good banking experience, you need to avail yourself with multiple ways of carrying out your transactions. Most especially, credit transactions as that could be used for settling bills, making subscriptions, purchases and for other…

MTN, has received final approval from Nigerian regulators to run a payment service bank, the wireless carrier said in a regulatory filing on Monday. After waiting for over 2 years for the permit, MTN Group LTD now have the leave to…

The Central Bank of Nigeria (CBN) has fined Access Bank, GTBank, UBA, and Stanbic IBTC for forex exchange violations. mNaija learnt that the total sum of N1.36 billion was debited from the accounts of the four banks during the 2021…

The challenge being faced by Nigeria’s electricity appears to be getting worse. yesterday, the national grid power generation dropped to 495.20 Megawatts with just Jebba Hydro (335MW), Olorunsogo NIPP (107.20MW) and Sapele (53MW) on the…

The Central Bank of Nigeria (CBN) has ordered Deposit Money Banks to stop bringing “composed banknotes” as part of their deposits with the apex bank. The warning is contained in a circular issued in Abuja by Ahmed Umar, the Director,…