Business
The rhythm of Nigeria's business world
In a move to enhance financial transparency, the Central Bank of Nigeria (CBN) has mandated Point-of-Sale (PoS) operators to register their businesses with the Corporate Affairs Commission (CAC) within two months. This measure aims to reduce fraud and promote a more regulated financial sector in...
In recent years, the global financial landscape has witnessed a remarkable revolution. Nigeria, Africa's most populous nation, has witnessed one of the most remarkable transformations in forex trading. This shift can be attributed in large part to the increased penetration of mobile technology...
Nigeria
Cybersecurity Levy: Statisense Report Reveals Current Costs of Electronic Transfers in Nigeria
Explore Statisense's insightful analysis uncovering the impact of Nigeria's post-cybersecurity levy electronic transaction costs. This comprehensive report delves into the financial implications for individuals and businesses, shedding light on regulatory changes by the Central Bank of Nigeria...
Learn about the Central Bank of Nigeria's new 0.5% cybersecurity levy on electronic transactions. Discover the exempted banking transactions from the levy, including loan disbursements, salary payments, and more.
The Central Bank of Nigeria has instituted a new cybersecurity levy of 0.5% on...
Learn about the CBN's directive mandating a 0.5% cybersecurity levy on all banking transactions in Nigeria. Discover key details, including implementation timelines, exemptions, and penalties for non-compliance.
The Central Bank of Nigeria (CBN) has recently mandated banks and financial...
SEC announces plans to delist Naira from peer-to-peer (P2P) platforms amidst concerns over cryptocurrency manipulation in Nigeria. This move aims to safeguard investors and regulate the digital asset space effectively.
In a move to address rising concerns over cryptocurrency manipulation...
Nigeria mandates 1.9 million Point of Sale (PoS) agents to register with the Corporate Affairs Commission (CAC) to curb rising fraud incidents, which accounted for 26.37% of cases in 2023. This directive aims to enhance transparency in financial transactions and improve regulatory oversight in...
![Today's Naira Rate [05-05-2024]: Naira Weakens to 1,430 Against USD as Demand for Foreign Currency Skyrockets](/data/attachments/203/203661-8457c57119a478bc5717b11aa4a694ef.jpg)
Nigeria
Today's Naira Rate [05-05-2024]: Naira Weakens to 1,430 Against USD as Demand for Foreign Currency Skyrockets
Amidst rising demand for foreign currency, the Nigerian Naira depreciates to 1,430 against the US dollar on the parallel market, signifying a 5.49% decline. Factors driving this include increased demand for travel and education. Analysts anticipate stability within the current band. Explore the...
Nigeria
Electricity Relief: Band A Customers Welcome Ikeja DisCo's Move to Lower Tariff to N206.80/kwh, Seek Further Reductions
Ikeja DisCo announces a significant tariff reduction for Band A electricity consumers to N206.80/kwh, effective May 6, 2024. NERC approved the adjustment from the earlier N225/kwh. This move impacts energy affordability and subsidy reduction, aligning with the government's economic realignment...
Petrol scarcity continues into the third week in Nigeria. Marketers are hopeful as NNPC increases supply. Queues ease in Abuja, but Lagos still faces shortages. Independent marketers expect improvement soon, urging patience.
As Nigeria struggles with prolonged petrol scarcity, which has now...
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