Money market Archives - Page 3 of 12

Breaking: Old Naira Notes, No Extension Beyond Feb. 10—CBN

February 14, 2023 JUSTINA EMMANUEL OKPARA

After days of suspense surrounding the legality of old naira notes, the Central Bank of Nigeria (CBN) has declared that the February 10 deadline earlier given for the notes to cease from being legal tender remains. CBN Governor, Mr Godwin Emefiele, ruled out extension today in Abuja when he briefed ambassadors of foreign nations and diplomats in Nigeria about the apex bank’s monetary policy and issues thrown up by the currency redesign. Details later

Union Bank Unveils Brand New Sonic Identity – The Sound of Union

December 3, 2022 JUSTINA EMMANUEL OKPARA

Union Bank of Nigeria has launched a brand-new sonic identity tagged ‘The Sound of Union. At 105 years, the bank is now leveraging the universality of music to engage with new and existing audiences through this unique sound identity. The bank tapped prolific and award-winning music producer Tee-Y Mix, to create a timeless sound and interpret it across multiple genres for today’s and tomorrow’s generations. Speaking about The Sound of Union during the official Twitter Space unveiling, Ogochukwu Ekezie-Ekaidem, Chief Brand and Marketing Officer, Union Bank, said: “Over the past…

Polaris Bank Promotes SMEs, Sponsors The Fashion Souk

December 3, 2022 Gedion Myek

Polaris Bank has reaffirmed its commitment to support the growth of Small and Medium Enterprises (SMEs) in Nigeria. The bank in a statement gave this assurance while disclosing plans to sponsor The Fashion Souk 7.0. The statement further noted that three successful entrepreneurs who emerge winners in a business pitch at the event will go home with N1million, N500,000 and N250,000 for the overall winner, first runner-up and second runner-up respectively. The two-day event, which is organised in partnership with Nigeria’s foremost event management company, EVENTFUL Limited is scheduled to…

The New Africa Magazine Names Onyeali-Ikpe, Banda, Taylor, Senator Olujimi, Others As Outstanding Women in Africa

November 30, 2022 JUSTINA EMMANUEL OKPARA

The New Africa Magazine, a strong believer in the culture of recognition for both men and women who have been shaping the vision and progress of the African continent, has released its list of 110 Outstanding Women in Africa for the year 2022. Some of those picked for the special recognition are the first female Managing Director, Fidelity Bank Plc, Ms. Nneka Onyeali-Ikpe; Hon. Joyce Hilda Banda, Fmr. President of Malawi, Hon. Jewel Howard Taylor, Vice President of Liberia; Jamila Sedqi, First Moroccan Female Judge at the UN Administrative Tribunal,…

The New Africa Magazine Names Onyeali-Ikpe, Banda, Taylor, Senator Olujimi, Others As Outstanding Women in Africa

November 30, 2022November 30, 2022 JUSTINA EMMANUEL OKPARA

Finance Minister Faults CBN On Planned Currency Alteration

October 28, 2022 Onyinye Obianwu

…asks Senate to probe proposal Nigeria’s Minister of Finance, Budget and National Planning, Zainab Ahmad, has reportedly disowned the new Central Bank of Nigeria (CBN) policy on redesigning the Nigerian currency, the naira. The Minister made this disclaimer when she was to a question raised by Senator Opeyemi Bamidele representing Ekiti Central, during the 2023 budget defence session with the Senate Committee on Finance. Reports reaching voiceofnaija.ng have it that the Finance Minister warned the CBN of the dire consequences that may arise from its new policy. The Senator asked: “Just two…

Report Ranks Lagos Fourth In Africa’s Dollar Millionaires

September 14, 2022 Admin

A report by research firm, New World Wealth and Henley & Partners, has ranked Nigeria’s commercial capital, Lagos, fourth in terms of the number of dollar millionaires in Africa. The latest Henley Global Citizens Report, which tracks private wealth migration trends worldwide, shows Lagos has 6,300 High Net Worth Individuals (HNWI) with at least $1 million. The report shows South Africa’s business hub Johannesburg has 15, 200 dollar millionaires – the most in Africa – followed by Egypt’s capital Cairo, which has 7,800 HNWIs. Another South African city, Cape Town,…

eNaira: Report Casts Doubt On Prospects

November 17, 2021 Admin

While Nigerians and the Central Bank of Nigeria (CBN) are still basking in the euphoria of the successful launch of the country’s version of digital currency, eNaira, a new report has raised the alarm the lack of trust in Federal Government’s disposition to policies could negatively affect the prospect of the initiative. According to the Bitcoin.com News report, skeptical analysts believe a lack of trust in the government will ultimately limit the e-naira’s prospects for success. It noted that in addition, some analysts insist the digital currency’s already tenuous position…

Tax Fraud: FG Reneges On Global Pact To Curb Investments In Tax Havens

October 9, 2021October 9, 2021 Admin

Despite recent outcry over Nigerian public and private officials’ criminal investments in countries, which exempt them from paying taxes, the Federal Government has refused to join about 140 other countries to curb the fraud through a 15 per cent corporate minimum tax. According to the report released over weekend, nearly 140 countries have agreed on a tentative deal that would make sweeping changes to how big, multinational companies are taxed in order to deter them from stashing their profits in offshore havens where they pay little or no tax. The…

Wema Bank commended for SMEs Business School

August 30, 2021 Admin

Beneficiaries of the maiden Wema Bank SME Business School have commended the novel and impactful initiative, disclosing that they have gained immensely from it. The Wema SME Business School equipped Micro, Small and Medium Enterprises with the basic management knowledge required to effectively run their businesses and respond to challenges in an ever-demanding business environment. The five-day free training programme was held recently in Lagos featuring 50 participants. They were trained using a robust curriculum spanning the broad areas of finance, marketing and sales, leadership, technology, branding, strategy, innovation and…