Finance

Nigeria’s largest banks by valuations: 1. Opay $2 billion 2. Zenith Bank $1.1 billion 3. Gtbank $1.08 billion 4. First bank $834 million 5. UBA $690 million 6. Access Bank $642 million 7. Stanbic bank $562 million 8. Eco bank $516 million

Does Innoson Manufacture Or Just Assemble Cars? I came across a post this morning where the poster claimed to have worked at BMW and believed he was in the right position to tell us which car companies in the world are manufacturing companies and which are assembly companies. I was reading to understand the difference, … Read more

How Abia Airport Funds Were Shared – Alex C. Otti “He (the Managing Director of Ferotex) showed us letters from the then government instructing the transfer of funds in different tranches to 32 companies, which he did as per the former government’s instructions. “The statement and report will be published soon. As reported by the … Read more

Top 10 Richest Tribes In Africa 1. IGBO, Nigeria 🇳🇬 2. Zulu, South Africa 🇿🇦 3. Pedi, South Africa 🇿🇦 4. Hausa And Fulani, Nigeria 🇳🇬 5. Suri, Ethiopia & Sudan 🇸🇩🇪🇹 6. Yoruba, Nigeria 🇳🇬 7. Ashanti, Ghana 🇬🇭 8. El Molo, Kenya 🇰🇪 9. Xhosa, South Africa 🇿🇦 10. Oromo, Ethiopia 🇪🇹

COMMERCIAL BANKS BRANCHES — MAY 2024 1 First Bank — 731 2 Access Bank — 583 3 UBA — 458 4 Zenith Bank — 397 5 Union Bank — 357 6 Fidelity Bank — 308 7 Ecobank — 273 8 GTBank — 219 9 Polaris Bank — 210 10 Unity Bank — 210 11 FCMB … Read more

Cyber Security Levy: CBN orders banks, PSPs to begin collection and remittance What this means: The Central Bank of Nigeria’s recent mandate for financial institutions to implement a cybersecurity levy represents a significant shift in the regulatory landscape of Nigeria’s digital economy. ▪ As per the directive, banks, mobile money operators, and payment service providers … Read more

Five Charges Nigerians Pay For Electronic Transactions The Central Bank of Nigeria (CBN) has issued an order to all banks operating within the country to impose a cybersecurity levy on transactions. In a circular released on Monday, May, the apex bank stated that the implementation of the levy would begin two weeks from the date … Read more

PRESS RELEASE Again, NNPC Ltd Cautions Against Panic Buying …Says 30-Days PMS Sufficiency Intact As the nationwide supply and distribution of Premium Motor Spirit (PMS), also known as petrol, continue to improve, the Nigerian National Petroleum Company (NNPC) Limited has once again called on motorists to shun panic buying of the product. In filling stations … Read more

COST OF ELECTRONIC TRANSACTIONS CYBERSECURITY LEVY: SENDERS now bear…. ₦5 on ₦1,000 ₦50 on ₦10,000 ₦500 on ₦100,000 ₦5,000 on ₦1,000,000 ₦50,000 on ₦10,000,000 STAMP DUTY: RECEIVERS bear…. ₦50 on ₦10,000 ₦50 on ₦100,000 ₦50 on ₦1,000,000 ₦50 on ₦10,000,000 TRANSFER FEES: SENDERS bear… ₦10 on ≤₦5,000 ₦25 on ₦5,001 — ₦50,000 ₦50 on >₦50,000 … Read more

Opay, Palmpay, Others Warn Customers Against Crypto Trading Nigerian fintech companies have warned their customers against trading in cryptocurrency or any virtual currency on their apps, threatening to block any accounts found engaging in such activities. At least four fintechs—Opay, Moniepoint, PalmPay and Paga—have communicated this development to their customers on Friday. Last week, the … Read more