Business
You want to look steeze? Visit Mide’s Store
Part of the most important elements of your party-wear and work-wear wardrobe are your shoes and bags. Several people detest using a common fashion accessories, hence, the need to go extra miles in getting their party shoes and bags. Some have fallen victims of dubious online sellers who blocked their contact lines after payment. But […]
FG increases number of oil blocks for 2024 bid round
The federal government has increased the number of oil blocks on offer in the 2024 marginal bid round. Gbenga Komolafe, chief executive officer (CEO) of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), spoke on Tuesday at the pre-bid conference for the 2024 licencing round in Lagos. On May 8, NUPRC invited investors to bid for […]
JUST IN: CBN denies revocation rumours for Fidelity, Polaris, Wema, Unity Banks
The Central Bank of Nigeria (CBN) has refuted allegations that it is contemplating the revocation of operating licences for Fidelity, Polaris, Wema, and Unity Banks. This clarification came amidst concerns about the stability of some Nigerian banks following the licence revocation of Heritage Bank Plc. In a statement released on Monday, June 10, Hakama Sidi […]
CBN Reportedly Axes 200 Staff Amid Economic Hardship
Reports indicate that the Central Bank of Nigeria has laid off 200 staff members due to economic challenges. A senior staff member, who chose to remain anonymous, confirmed this development to our correspondent on Friday night. “Over 200 staff members received termination letters from the Central Bank of Nigeria on Friday. However, the exact number […]
CBN Mandates Reapplication for Bureau De Change Licenses
The Central Bank of Nigeria (CBN) has directed all existing Bureau De Change (BDC) operators to reapply for new licenses under updated guidelines. This announcement was made on Wednesday in a circular signed by Haruna Mustafa, Director of the Financial Policy and Regulation Department. BDC operators have expressed dissatisfaction with the new licensing guidelines, arguing […]
CBN revises guidelines for Bureau De Change operators
The Central Bank of Nigeria has updated its regulatory guidelines for Bureau De Change operators. After consulting with stakeholders, the following changes were made: The mandatory caution deposit of N200m for tier-1 BDC licence holders has been removed. Similarly, N50m for tier-2 licence holders has also been waived. The non-refundable annual licence renewal fee has […]
Iran Prepares for Leadership Transition After President Raisi’s Tragic Death
Iran is bracing for a shift in leadership following the tragic helicopter crash that claimed the life of President Ebrahim Raisi, with Mohammad Mokhber, the first vice president, expected to step in as his successor. The Iranian constitution outlines that the first vice president assumes the presidency in the event of the president’s death, dismissal, […]
UK Civil Aviation Authority Flags Safety Violations by Air Peace
The United Kingdom Civil Aviation Authority (UK CAA) has notified Nigeria’s Civil Aviation Authority (NCAA) of alleged safety regulation violations by Air Peace. This development comes just three months after Air Peace launched its Lagos-London route. Two mandatory occurrence reports concerning Air Peace were sent to the UK CAA, which then forwarded the complaints to […]
MRS Oil Nigeria Plc Shareholders Support Delisting from Nigerian Exchange
Some shareholders of MRS Oil Nigeria Plc have endorsed the company’s decision to delist from the Nigerian Exchange (NGX). Mathew Akinlade, a shareholder and director of the company, assured that the planned delisting would not negatively impact investors. Akinlade explained that delisting would help MRS Oil Nigeria reduce regulatory costs, enabling the company to expand […]
BDC operators arrested as naira sells 1,416/$
Operatives from the Economic and Financial Crimes Commission on Tuesday reportedly arrested some h Bureau De Change operators at the popular Wuse Zone 4 market on Tuesday. This came as traders also said some BDC operators resisted the arrest during a sting operation. The operatives had embarked on routine raids to sanitise the market of […]