Business
SMEDAN empower women entrepreneurs with grants
The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has awarded a grant of N2.05m to five outstanding women entrepreneurs. The presentation was made at the first edition of its Speed Pitch Competition at the Eko Convention Center in Lagos. The business pitch competition is designed to enhance financial literacy and provide small businesses […]
Binance founder Changpeng Zhao has been sentenced to 4 months in prison
Changpeng Zhao, the billionaire founder of the prominent cryptocurrency exchange Binance, received a four-month prison sentence on Tuesday, April 30, 2024, following his guilty plea to money laundering violations last year. This term, significantly shorter than the three years demanded by prosecutors, came after a dramatic legal battle. Prosecutors had sought a lengthier sentence, while […]
FCCPC enforces price regulations in Nasarawa markets
The Federal Competition and Consumer Protection Commission (FCCPC) intensified its campaign against price irregularities in local markets by conducting a monitoring exercise at Masaka market in Nasarawa State on Friday. This move is part of the commission’s broader efforts to ensure compliance with pricing, quantity, and quality standards for sellers of consumable goods nationwide. Recently, […]
35 illegal tax collectors facing prosecution – Benue IRS
Emmanuel Agena, the Acting Chairman of the Benue State Internal Revenue Service (BIRS), has disclosed that 35 individuals implicated in illegal tax collection activities in the state are currently undergoing prosecution. Agena revealed that the BIRS has set an ambitious revenue target of over N16 billion for the year 2024, building on the successful surpassing […]
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 $10,000 to each BDCs at N1101/$ and directed the operators to sell at a spread not more than […]
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, be arraigned and be served the charge on behalf of the company, being a certified […]
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 role of Regional Executive for Anglophone West Africa and Managing Director of Ecobank Ghana. Osei-Poku, […]
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 expedite action on the recapitalisation of their capital base in order to strengthen the financial […]
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 adviser on Information & Strategy to President Bola Tinubu, Mr Bayo Onanuga, had urged the […]
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 exchange FTX Trading Limited severely damaged faith in digital currencies and sent prices plunging. According […]