Crypto exchange, Binance, has announced that it will discontinue services supporting naira on its platform starting Tuesday. In a notice on its website on Tuesday, Binance, which had been accused of manipulating the value of the Nigerian currency, said that starting this Friday, any remaining naira balances in user accounts will be automatically converted to…
Did you know that despite having one of the largest oil reserves in Africa, Nigeria faces a critical shortfall in meeting both its local and international energy obligations ,How can Africa’s leading oil producer turn this tide The answer lies in strategic investments in infrastructure, technology, security, environmental sustainability, human capital, and necessary policy reforms….
Against the backdrop of the migration of Nigerian professionals, commonly regarded as ‘japa syndrome’ to developed countries of the world, a human resource expert, Hilda Kabushenga, CEO, The African Talent Company, has said though the factors are beyond organisations, managing talents within the context of new work realities would check the trend. Kabushenga who made…
Over 70 million bank customers are at risk of losing access to their accounts when the Central Bank of Nigeria’s directive on restricting accounts without Bank Verification Numbers and National Identification Numbers goes into effect. The CBN had on December 1, 2023, in a circular directed that a ‘Post no Debit’ restriction be placed on…
The Board of Directors of Lafarge Africa has proposed a dividend of N1.90 per unit of its shares for the year ended December 2023 amounting to N30.60bn. This was lower than the N32.22bn dividend it paid in the previous year. In a corporate notice filed with the Nigerian Exchange Limited on Thursday, the proposed dividend…
The naira appreciated marginally against the United States dollar to N1,609 on Wednesday at the official market from N1,615.94 recorded the previous day. This indicates an increase of N6 or 0.37 per cent. The slight improvement came on the heels of series of foreign exchange guidelines issued by the Central Bank of Nigeria in recent…
On Wednesday, the Financial Times reported that two senior executives of Binance had been detained in Nigeria.Sources with knowledge of the matter have confirmed that more cryptocurrency operators will be invited to expand their operations in Nigeria. The crackdown follows an earlier report by the Nigerian Financial Intelligence Unit (NFIU). According to the source, the…
“If we don’t clamp down on Binance, Binance will destroy the economy of this country. They just fix the rate,” a displeased Onanuga said on Channels Television’s Politics Today program on Wednesday. “We have saboteurs. Look at what Binance is doing to our economy. That is why the government moved against Binance. Some people sit…
Wema Bank has held its first physical Importer-Exporter Forum in Lagos to address issues impeding international trade in the country and proffer solutions tailored to facilitate seamless international trade operations. The forum themed ‘Building a Symbiotic Trade Ecosystem for Effective Trade Decisions’, was a gathering of importers, exporters, aspiring international traders and relevant regulatory bodies….
