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Hamda Ambah

Central bank: Spraying, hawking of naira notes to attract jail term

Nigerians who sell new naira notes or spray cash at parties will now be tried at mobile courts and sent to six months jail as the Central Bank of Nigeria (CBN) mulls increasing the number of items on the not eligible for foreign exchange.

Money laundering: Banks’ brainstorm over new central bank sanction regime

The new Anti Money Laundering/Counter Financing Terrorism (AML/CFT) sanction regime announced by the Central Bank of Nigeria (CBN) has triggered a series of top management brainstorming sessions amongst banks over implications and implementation.

Central bank gives ultimatum to exporters to repatriate proceeds

The Central Bank of Nigeria (CBN) has given exporters who failed to repatriate their proceeds a ninety-day moratorium to comply or face a complete ban on banking services in Nigeria.

Forex: Banks cancel commissions on PTA, tuition, medical bills

Members of the Bankers’ Committee have agreed that banks in the country should stop charging commission on the sale of foreign exchange to customers, particularly those meant for Personal Travel Allowance, Business Travel Allowance, tuition and medical bills payment.

Recent Stories

EU ‘no-deal’ Brexit plan has bad news for travellers

The EU published contingency plans for a “no-deal” Brexit on Tuesday, outlining a host of travel rights Britons would lose, from recognition of driving licences to loss of pet passports.

INEC: 13,000 PVCs unclaimed in Kuje

The Independent National Electoral Commission (INEC), says no fewer than 13,000 registered voters were yet to collect their Permanent Voters Cards (PVCs) in Kuje Area Council of the FCT.
Kola Ologbondiyan

Kwara bye-election: PDP warns against use of security to intimidate voters

The Peoples Democratic Party (PDP) has cautioned against “plot’’ to use the police as a tool to intimidate voters and rig the Irepodun/Ekiti/Oke-Ero/Isin Federal Constituency by-election in Kwara scheduled for Saturday.
Second Niger Bridge

Federal government awards N206 billion contract for 2nd Niger Bridge to Julius Berger

The federal government has awarded Julius Berger Construction Company a N206 billion contract for the main work on the 2nd Niger Bridge.

Rob Shuter: MTN to acquire banking licence in Nigeria

Rob Shuter, the chief executive officer at MTN Group, says the group will acquire an independent banking licence in Nigeria by 2019.