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Mixed reactions have trailed Nigeria’s public financial sector since Edo State, Governor Godwin Obaseki on 10 April 2021 disclosed that the Federal Government printed N60 billion as part of the federal allocation for March. This earth-shaking disclosure was made during the state transition committee stakeholders’ engagement. After four days of anxiety, as the public waited…
A few days ago, the Central Bank of Nigeria (CBN) obtained an interim order from the Federal High Court, Abuja Division to freeze eleven bank accounts of five companies and one individual for 45 days. The order empowers the apex financial regulatory body to conduct investigations into suspicious activities including money laundering and illegal forex…
The Finance Act 2020 was signed into law on 31 December 2020 by President Muhammadu Buhari and took effect on 1 January 2021. One major aspect of the Finance Act 2020 is the Unclaimed Funds Trust Fund. According to the Finance Act 2020, any unclaimed dividend of a public limited liability company quoted on the…
In the world today, the privileged positions of founders and Chief Executives have almost become exclusive to degree and MBA holders. However, a few have proven with their stories that grit, hardwork, sweat ,toil and initiative can make a man successful in business, even without executive degrees. Two successful entrepreneurs and key personalities that stand…
The decision by Twitter to take her African head office to Ghana has continued to generate huge bickering, especially among those who feel all key investments in Africa must come to the continent’s largest economy. Indeed, Nigeria has attracted several mega-companies across the globe, which have boosted her Foreign Direct Investment (FDI) in the last…
Ngozi Okonjo-Iweala, Nigeria’s two-time minister of finance would finally be resuming in Geneva this March as the Director-General of the World Trade Organisation. In the course of her campaign for the coveted position, a lot of calculations were made and diverse steps taken. Some were aimed at boosting her chances for the position, while others…
The Central Bank of Nigeria (CBN) has revoked the licenses of seven Payment Service Providers (PSPs) and one switch service provider, following their inability to meet up with key statutory obligations. According to an official gazette obtained from CBN’s official website, the affected PSPs include: Transaction Processing System (TPS), Easifuel Limited, Paymaster Limited, Grand Towers…
The Central Bank of Nigeria (CBN) has ordered Deposit Money Banks (DMBs) to close all ‘Naira General Ledgers’ used by the lenders to remit naira to Diaspora remittances beneficiaries. Godwin Emefiele, CBN Governor made this known in a statement titled ‘Improving Remittance Inflows into Nigeria’. He stated that the Naira General Ledgers are channels whereby…
There are worries for Okonjo Iweala as the US wants the race for the World Trade Organisation ( WTO ), Director General, reopened. The US once again talked down the Nigerian candidacy following Trade Representative, Robert Lighthizer’s commentary that an experienced handler is needed for the high profile job. Lighthizer, who was speaking to BBC…
Nigeria is now the second largest bitcoin market after the US. According to details obtained from Quartz, Nigeria peaks at second place with a volume of 60, 215 BTC valued at more than $566 million. This makes Nigeria, asides the US, the largest volume globally on Paxful, a leading peer-to-peer bitcoin marketplace. Experts attribute this…
