Home » Archives by category » Editor’s Picks (Page 30)

YEDP – CBN Loans N930M To 310 Youths To Start Business

YEDP – CBN Loans N930M To 310 Youths To Start Business

On Thursday (Oct. 20), the Central Bank Of Nigeria gave a total of 310 youths, including members of the National Youth Service Corps,  N930m to establish profitable ventures in different sectors of the economy. Each of the youth, who emerged through a rigorous competitive process, received N3m under the Youth Entrepreneurial Development Programme (YEDP). The first set […]

Revenue Dips By N90.27bn As FG Shares N420bn

The funds realised by the Nigerian federation dipped by N90.27bn for the month of September, statistics made available by the Federation Accounts Allocations Committee after its meeting in Abuja on Thursday showed. According to the statistics, the total amount realised for September stood at N420bn, which was N90.27bn less than the N510.27bn that accrued in […]

EFCC Recovers N200m in Borno State In 11 Months

EFCC Recovers N200m in Borno State In 11 Months

The Economic and Financial Crimes Commission said that it has recovered about N200m in Borno State between November 2015 till date. The commission in a statement on Thursday by its Head of Operations Maiduguri zonal office, Ibrahim Bappa, said N196.7m was recovered for the Federal Government and about N3m for individuals that petitioned the commission. He […]

Why Payment Card Use Abroad Was Suspended By Banks

Why Payment Card Use Abroad Was Suspended By Banks

FACTS emerged on Tuesday that banks in the country decided to stop their naira debit cards from working abroad after the Central Bank of Nigeria asked them to adopt the interbank foreign exchange rate as the basis for charging customers for foreign currency-denominated transactions. Deposit Money Banks, including Standard Chartered Bank, Stanbic IBTC Bank and […]

Senate Hires Forensic Experts To Probe MTN Over $13.9bn Transfer

Senate Hires Forensic Experts To Probe MTN Over $13.9bn Transfer

The Senate on Wednesday said it had engaged the services of foreign forensic experts and lawyers to probe the $13.9bn allegedly transferred illegally from Nigeria by MTN Nigeria. The Upper Chamber of the National Assembly stated that it would not treat the case lightly. A public investigative hearing on the matter begins on Thursday (today). […]

EFCC – CBN Testifies Against Dokpesi On N2.1bn ONSA’s Cash

EFCC – CBN Testifies Against Dokpesi On N2.1bn ONSA’s Cash

On Wednesday (Oct. 19) at the Federal High Court, Abuja, the Economic and Financial Crimes Commission opened its case against a businessman and former Chairman of Daar Communications Plc, Chief Raymond Dokpesi, by calling its first witness. Dokpesi and his firm, Daar Investment Holdings Limited, are being prosecuted on charges relating to the sum of N2.1bn, […]

FG Grants N30bn Intervention Fund For Mining Sector

FG Grants N30bn Intervention Fund For Mining Sector

The Executive Council of the Federal Government of Nigeria, on Wednesday (Oct. 19) approved a N30bn intervention fund for the mining sector. It also approved technical advisers for the concession of railway line. The decisions were taken at a meeting of the council presided over by President Muhammadu Buhari. The Minister of Information, Alhaji Lai […]

Nigeria Is Still Africa’s Biggest Economy – IMF Affirms

Nigeria Is Still Africa’s Biggest Economy – IMF Affirms

The International Monetary Fund (IMF) has affirmed Nigeria as the biggest economy in Africa — ahead of South Africa and Egypt. In August 2016, Nigeria was reported to have lost its spot as Africa’s biggest economy to South Africa, following the recalculation of the country’s gross domestic product (GDP). “A recalculation using current exchange rates […]

Advantages Of A Dollar Debit Card

Advantages Of A Dollar Debit Card

A dollar debit card, in simple terms, is a debit card that does transactions in dollar instead of naira. It is the dollar equivalent of a naira debit card. It is an international debit card that is issued in partnership with MasterCard or Visa; and it is directly linked to the customer’s domiciliary account. A dollar […]

Disadvantages Of A Dollar Debit Card

Disadvantages Of A Dollar Debit Card

Many customers, especially those who travel often or have things to do with foreign currencies, have been besieging banks to get the dollar card as Deposit Money Banks on Friday stopped the usage of their naira debit cards (Automated Teller Machine cards) abroad as well as online transactions denominated in foreign currencies. What is a dollar debit […]

Contact Us