NOVA Merchant Bank, the leading Bank in Nigeria, has pledged to promote gender equality by supporting women who embrace technology skills, especially in our ever-evolving world. This commitment was made during the 2023 NOVA International Women’s Day (IWD) conference held recently, at the Bank’s headquarters in Lagos. l-r: Managing Director/CEO NOVA Merchant Bank, Mr. Nath Ude; […]
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The Central Bank of Nigeria (CBN) has issued operational guidelines for open banking in the country. This is contained in a circular signed by Musa Jimoh, director of payments system management department on March 7, 2023. What is Open Banking? Open banking is the sharing of financial information electronically, securely, and only under conditions that customers approve […]
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Following last week’s Supreme Court order approving the use of old N1,000 and N500 and N200 notes as legal tender till December, some Deposit Money Banks have started re-circulating the old notes. However, it was observed that motorists, fuel stations, retailers, traders, and other categories of bank customers rejected the old currencies. The development came […]
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On behalf of the government of Kaduna State, I wish to express my deepest regret at the needless suffering you are enduring.Let us stand up strongly for democracy, peace and national unity. My dear people of Kaduna State, With just about 100 days before leaving office, and elections just round the corner, it was my […]
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The Supreme Court Wednesday gave an interim order stopping the central bank of Nigeria (CBN) from ending the use of old naira notes from 10 February, the News Agency of Nigera (NAN) reports. A seven-member panel of the Supreme Court led by John Okoro, made the ruling on Wednesday in an ex parte application brought […]
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Zainab Ahmed, the Minister of Finance, Budget and National Planning, on Thursday said the Federal Government was borrowing money to fund petrol subsidies, insisting that the subsidy regime had become totally unsustainable. The Minister who disclosed this at the public presentation of details of the 2023 budget in Abuja, said: “Fuel subsidy cost was a […]
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A Professor of political economy, Pat Utomi, has concern that President Muhammadu Buhari’s 2023 budget for Nigeria will spell doom for the economy and cost of living, warning of “massive inflation.” Kokomansion recalls that Buhari signed the 2023 appropriation bill into law after the National Assembly passed the N21.83 trillion budget for the country on […]
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Director general, Debt Management Office (DMO), Patience Oniha, has said President Muhammadu Buhari will live behind a total of N77 trillion debt for incoming President. President Buhari’s tenure will end in May 2023. Oniha said this while fielding questions from newsmen at the public presentation and breakdown of the highlights of the 2023 appropriation act […]
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The Federal Government of Nigeria has revealed that fuel subsidy payment will gulp 3.36 trillion naira in six months. However, this means subsidy payment will persist till the end of the year, 2023. The Minister of Finance, Budget and disclosure Planning, Mrs Zainab Ahmed, made this known in Abuja during the public presentation of the […]
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Guaranty Trust Bank (GTBank) has announced that it will no longer allow its customers to use their naira Mastercards for international online and point-of-sale (POS) transactions starting on December 31st, 2022. In an email sent to customers on Thursday, the bank stated that customers can still use their GTBank dollar cards for all international spending […]
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