Category: Money and Stocks

Banks’ Customers Now Pay N6 Per SMS Transaction Alert

Abibat Babalola

Banks will commence implementing charges for alerts and other short messages (SMS) communications to their customers at the rate of N6 for every SMS transaction with effect from today. This is coming on the heels of the increase in telecommunications rates by telecommunication providers following a nod by the Federal Government. The SMS charges were increased by 50% to N6 from the previous N4 per message. READ ALSO: ‘Effective June 1,’ English FA Bans Transgender From Women’s Football NLC Demands 65-Year Retirement Age For Civil Servants Alaafin Opens Up As…

Read More

CBEX Resumes Operations Amid SEC Ban, N1.2tn EFCC Probe

Ganiyu Amodu

The Crypto Bridge Exchange (CBEX) trading platform has resumed operations despite the probe launched by the Economic and Financial Crimes Commission (EFCC) over alleged N1.2 trillion digital fraud. The development was disclosed by two traders on Wednesday, who added that the platform announced fresh withdrawal options to restore investor confidence following the infamous crash of the platform. Per the report, CBEX quietly resumed operations, with new users now allowed to register, trade, and withdraw profits amid ongoing investigations by regulatory agencies. It was also gathered that existing investors who have…

Read More

‘Nigerians Spend 50.1% Of Income On Food,’ SEID’s 2025 Consumer Outlook Report Reveals Damning Data

Ganiyu Amodu

Nigeria’s economic landscape is undergoing rapid transformation, with inflation, policy shifts, and global uncertainties, significantly altering consumer behaviour across Africa’s largest country. To critically understand the factors responsible for the changes in consumer behaviour in the country, SEID, a reputable Marketing Communications Firm in Lagos, Nigeria, has launched its first-of-a-kind report titled ‘Nigerian Consumer Outlook Report 2025 (NCOR 2025)’. Platforms Africa reports that the Outlook offers insight into consumer behaviour in one of the continent’s most dynamic markets with xx that can steer international investors in the right direction and…

Read More

Naira Depreciates N1,629/$ In Official Market

Abibat Babalola

The Naira yesterday depreciated to N1,629 per dollar in the Nigerian Foreign Exchange Market (NFEM). Data published by the Central Bank of Nigeria, CBN, showed that the indicative exchange rate for the naira rose to N1,629 per dollar from N1,600 per dollar last week Friday, indicating N29 depreciation for the naira. READ ALSO: NCDMB’s Ezeobi Authors Nigeria’s First Book on Local Content Strategic Communication MC Oluomo’s Successor At Lagos NURTW, Tafa Sego, Escapes Assassination IGP Makes U-Turn, Withdraws Invitation To Emir Sanusi Supreme Court Sacks Abure As Labour Party Chairman…

Read More

Obama Slams Trump Over Media Crackdown, Tariffs, Others

Ganiyu Amodu

Former United States President Barack Obama has criticised some recent actions of President Donald Trump, accusing the current administration of clamping down on the media, targeting political opponents, and threatening institutions that promote diversity and free expression. Obama made the remarks during a conversation with Hamilton College President, Steven Tepper, where he expressed concern over what he described as troubling trends under Trump’s leadership. He particularly faulted the White House’s decision to revoke The Associated Press’s access to key West Wing areas after the news agency refused to adopt the…

Read More

US Federal Reserve Chair Jerome Powell Says Inflation May Last Longer With Tariffs

Ganiyu Amodu

Federal Reserve Chair Jerome Powell on Friday appeared to back away from a “base case” view that inflation from President Trump’s new tariffs could be transitory, saying that “it is also possible that the effects could be more persistent” as the economy digests “significantly larger-than-expected” trade duties. Trump, at the same time, turned up the pressure on Powell, calling on him to lower rates. “This would be a PERFECT time for Fed Chairman Jerome Powell to cut Interest Rates. He is always ‘late,’ but he could now change his image,…

Read More

EcoBank Slams Suit On Otudeko’s Son As 6.3 Billion Shares Showdown Degenerates

Gbenga Adeoti

  EcoBank Plc has asked the Federal High Court in Lagos to temporarily restrain Otudeko Obafemi Adedamola, the son of Oba Otudeko, and others, including the Corporate Affairs Commission (CAC), from selling or transferring 6,314,116,229 Barbican Capital Limited shares in FBN Holdings. This request was made in a motion accompanying the bank’s main suit, both instituted by Kunle Ogunba (SAN) against Otudeko, Barbican Capital Limited, Honeywell Flourmills of Nigeria Plc, Siloam Global Services Limited, Oyeleye Foluke, FBN Holdings Plc, CAC, and the Nigerian Stock Exchange (NGX). The bank’s lawyer alleges…

Read More

Shamsedeen Ogunjimi, Seven Things To Know About New Accountant General

Ganiyu Amodu

President Bola Ahmed Tinubu has appointed Shamsedeen Babatunde Ogunjimi as the new Accountant General of the Federation after a rigorous selection process. Here are seven things hitherto not generally known about him. 1. Shamsedeen Babatunde Ogunjimi is 57 years old 2. He hails from Ikorodu in Lagos 3. Ogunjimi graduated from the University of Nigeria, Nsukka, in 1990 with a Bachelor of Science in Accountancy. 4. He also obtained a Master’s in Accounting and Finance from the University of Lagos. 5. He is a fellow of the Institute of Chartered…

Read More

Naira Down To N1,510/$ In Parallel Market

Abibat Babalola

The Naira yesterday depreciated to N1,510 per dollar in the parallel market from N1,505 per dollar last weekend. But the Naira appreciated to N1,499 per dollar in the Nigerian Foreign Exchange Market (NFEM). READ ALSO: NNPC Reduces Petrol Price To ₦‎860/Litre Former UNILAG Chief Imam Prof. Murtala Bidmos Is Dead DevReporting Takes Off, Names Mojeed Alabi Team Lead, Christiana Alabi-Akande Editor Abducted Afenifere Youth Leader, Eniola Olajuni, Regains Freedom Sexual Scandal Rocks Senate, Natasha Fingers Akpabio of Harassment + VIDEO Data published by the Central Bank of Nigeria, CBN, showed…

Read More

CBN Retains Interest Rate At 27.5%

Ganiyu Amodu

The Central Bank of Nigeria (CBN) Monetary Policy Committee (MPC) has unanimously decided to hold all the parameters. This was announced by the CBN Governor, Mr Olayemi Cardoso, on Thursday during a press briefing in Abuja. In this regard, that keeps the Monetary Policy Rate (MPR) at 27.50 percent, and retains the asymmetric corridor around the MPR at +500/-100 basis points. Court Grants Portable N2m Bail, Adjourns Case Till March 5 Portable Arraigned In Ogun Court Over Alleged Assault On Government Officials The MPC also retained the Cash Reserve Ratio…

Read More