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CBN Intervenes As PoS Operators Implement Rate Hike
Following the hike in price adopted by the Point of Sale operators across Lagos, Ogun, Edo, and other parts of the country, the Central Bank of Nigeria has said it will intervene to resolve issues around the new charges.
Commenting…
Access, Ecobank, Others Sign Deal To Revolutionise Cross-Border Transactions
Access Bank, UBA, Ecobank Group, and others have agreed with the Pan-African Payment and Settlement System (PAPPS) to revolutionise the settlement of cross-border transactions across Africa, leveraging the vast network of subsidiaries…
POS Operators Unveils New Charges For Withdrawal, Deposit
Point of Sales (POS) operators, under the aegis of the Association of Mobile Money and Bank Agents in Nigeria (AMMBAN), Lagos state chapter have increased charges for deposits and withdrawals in Nigeria.
The new price list was…
MSME Africa Honours Top 50 Remarkable MSME Founders 2023 with $25,000 in Media Credits
In commemoration of International MSME Day, MSME Africa, Africa's premier media, opportunities, and resources platform for Micro, Small, and Medium Enterprises, proudly unveiled its Top 50 Remarkable MSME Founders for 2023.
The…
Professional Bodies, Councils To Be Self-Funding From 2026
The Budget Office of the Federation under the Ministry of Budget and National Planning has announced that budgetary allocations for professional bodies and councils like NIMN, ARCON, and NIPR will no longer be available from 2026. This…
Increase In VAT Charges On Diesel Poised To Affect Prices Of Consumer Goods
Car refueling on a petrol station closeup
Following the FG implementation of the payment of 7.5 per cent VAT on diesel, Stakeholders in the Oil and Gas industry have revealed that the proposed 7.5 per cent Value Added Tax changes (VAT)…
CBN Announces Transaction Limit For Contactless Payments
The Central Bank of Nigeria (CBN) has announced new transaction limits for contactless payments in the country, effective from June 27, 2023.
This was made known through a circular signed by Musa Jimoh, the director Payment Systems…
New Exchange Rate: Economy Tickets Of Most Foreign Airlines May Hit N2m
With the new exchange rate arranged by the Central Bank of Nigeria (CBN) pushing the floating Nigerian currency, the naira from N663/$1 to N770, the International Air Transport Association (IATA) has alarmed that some One-way Economy…
Banks, Telcos, Others To Pay Huge Fines Over Breach Of Data Protection Law
Banks, Telecommunications companies, and other organisations may be fined up to two per cent of their annual revenue for data breaches following the implementation of the recently signed data law.
The National Commissioner/CEO,…
Brand Owners Lose N10.1trillion To Poor Electricity Supply
Brand Owners under the aegis of the Manufacturers Association of Nigeria (MAN) have revealed the poor electricity supply situation in the country as a major hindrance to their profitability, with an annual economic loss they put at…