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JUST IN: CBN sells $10,000 to BDC operators at N1,101/$

The Central Bank of Nigeria (CBN) has announced it will once again sell dollars to bureau de change operators. This was disclosed in a circular seen on CBN website. The CBN said it is set to sell $10,000 to each…

Court Remands Binance Executive In Correctional Facility

The federal high court sitting in Abuja has ruled that Tigran Gambaryan, the second defendant in the ongoing arraignment of Binance Holdings Limited and its two top officials; on allegations of Money Laundering by the Economic and Financial Crimes Commission,…

Ecobank Group strengthens leadership team with strategic top-level appointments

Ecobank Plc has announced significant appointments of senior executives aimed at fortifying the Group’s leadership team and advancing the implementation of its new Growth, Transformation, and Returns (GTR) strategy. Among the newly appointed executives is Abena Osei-Poku, who assumes the…

Fresh Hurdles For Banks As CBN Raises Capital Requirement To N500bn, N200bn

Banks in the country face the fresh hurdle to raise their minimum capital requirements to N500 billion and N200 billion for their International and national operations, the Central Bank of Nigeria (CBN) has announced. Days after urging Nigerian banks to…

Business

Binance Quits Nigeria, To Stop Naira Services March 8

Binance, a cryptocurrency trading platform, has said that it will discontinue all Naira services by March 8, 2024. This is coming on the heels of the recent clampdown on its operations and officials by Nigerian regulators. Recall that the special…

Business

Bitcoin Hits All-Time High After Collapse Of Crypto Exchange, FTX Trading Ltd

According to CoinMarketCap, the world’s largest cryptocurrency briefly surpassed $68,800 on Tuesday, which is just above Bitcoin’s previous record set back in November 2021. Bitcoin has hit an all-time high less than two years after the collapse of the crypto…