Finance
Guaranty Trust Holding Company Shatters Records with Historic Pre-Tax Profits in Nigerian Banking
Guaranty Trust Holding Company (GTCO), one of Nigeria’s most efficiently managed banks, has recently announced record-breaking pre-tax profits in Nigerian banking history. According...
U.S. Job Growth Falls Short in April, Unemployment Rate Rises to 3.9%
The United States’ job growth for April fell below expectations, with the economy adding only 175,000 jobs. This figure is well below the...
Nigerian Banks Face Challenges as Stocks See Downturn and Valuations Remain Low
In April, Nigerian banks faced significant challenges as major banking stocks experienced losses month-to-date. This downturn aligned with the first month-to-date decline in...
Court Adjourns Binance Money Laundering Trial, Defendant’s Bail Plea Disputed
The Federal High Court in Abuja has adjourned the trial concerning money laundering allegations against Binance Holdings Limited and two of its executives,...
AUC Speaks on Attempted Fraud on African Union Bank Accounts
On Tuesday, the African Union Commission (AUC) released a statement following the attempted fraud activities to unlawfully withdraw funds from African Union Bank...
EFCC Goes After BDC Operators in Wuse, Abuja
To clamp down on currency-related offences and stabilise the nation’s exchange rate, the Economic and Financial Crimes Commission (EFCC) conducted a surprise raid...
EFCC Investigates 1,146 Bank Accounts for Forex Racketeering
The Economic and Financial Crimes Commission (EFCC) has frozen 1,146 bank accounts suspected of involvement in illegal activities such as money laundering, unauthorised...
NCAA Denies Purchasing N250m Official Vehicle for Acting DG
The Nigerian Civil Aviation Authority (NCAA) has refuted claims of purchasing a 2022 Toyota Landcruiser worth N250 million for the acting Managing Director,...
Nigerian Fintechs Halt New Account Openings Following Regulatory Directives
Several prominent Nigerian fintech companies, including Kuda Bank, Moniepoint, OPay, and Palmpay, have ceased opening new customer accounts following a directive from the...
OPay’s Valuation Surges Over 30% Amid Nigeria’s Digital Payments Boom
OPay, the Nigerian fintech startup supported by Sequoia Capital and Softbank, has experienced a remarkable 30% increase in valuation since its Series C...
Standard Chartered Bank Names Dalu Ajene as CEO for Nigeria Operations
Standard Chartered Bank has appointed Dalu Ajene as the Chief Executive Officer of its operations in Nigeria. With over 23 years of experience...
CBN engages private sector to boost Foreign Direct Investment in Nigeria
The Central Bank of Nigeria, CBN, announced its engagement with various private sector executives to boost Foreign Direct Investment (FDI) in Nigeria. CBN...