Full List as CBN Liquidates 20 Banks
The Nigeria Deposit Insurance Corporation (NDIC) says it paid N1.39 billion to 36,163 depositors of 110 closed microfinance banks and three primary mortgage banks. He said this followed the recent…
Scare For Customers as Wema Bank Announces N8bn Loss
Wema Bank has announced a significant financial loss to the tune of more than N8 billion. Daily Report Nigeria reports that the development has raised concerns among customers of the…
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Naira Crash: FG Stops Access to Crypto Firms
In an effort to combat what it perceives as ongoing manipulation of the forex market and illicit fund movements, the Nigerian government has decided to stop the online platforms of…
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Naira Fall: Nigeria Asks Binance to Disclose Top 100 Users
Nigeria is currently seeking information from Binance, a cryptocurrency exchange platform, about its top 100 users in the country. The request also includes the transaction history of these users over…
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Police Arrest Fleeing Binance Executive
The Kenya Police Service has arrested Nadeem Anjarwalla, a fleeing executive of Binance who earlier escaped from Nigeria custody. Anjarwalla is set to be extradited to Nigeria within the week…
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CAC Streamlines PoS Registration with New Centre
The Corporate Affairs Commission (CAC) has launched a dedicated center for bulk registration of Point of Sale (PoS) operators in its database. The center, located at the CAC's Federal Capital…
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Oil Prices Surge to One-Week High on Summer Demand Hopes
Ol prices soared nearly 3% on Monday, reaching a one-week high, driven by optimism over increased fuel demand during the summer season. Despite a stronger US dollar and expectations…
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FIRS files charges against firm for tax evasion
In a bid to strengthen tax compliance, the Federal Government has filed a six-count charge against Well Property Development Company Limited for tax evasion. The Federal Inland Revenue…
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Nigeria Wins Bid to Host $5 Billion African Energy Bank
Nigeria has emerged as the winner of the bid to host the headquarters of the African Energy Bank (AEB), a global multilateral institution aimed at financing Africa's hydrocarbon resources…
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Nigeria’s Inflation Rate Soars to 34.19% in June
Nigeria's inflation rate has surged to a record high of 34.19% in June, according to data released by the National Bureau of Statistics (NBS) on Monday. This represents an…