Category: Money and Stocks

BREAKING: Nigerians Won’t Lose Old Notes After Deadline, CBN Assures

ADEOLA YUSUF

“You will not lose your money even when it loses its legal tender. You can take it to the bank, pay it into your account. But we should please allow this policy to succeed,” Emefiele said.     The Central Bank of Nigeria (CBN), on Tuesday, bowed to the demand of the House of Representatives for a gradual phase-out of the old naira notes. CBN Governor Godwin Emiefele, who appeared before the House of Representatives ad-hoc Committee, said Nigerians won’t lose the old notes after the February 10 extended deadline.…

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Meet Abiola Bawuah, First Female CEO UBA African Operations

ADEOLA YUSUF

Bawuah’s appointment surges number of female Directors on UBA Board to eight   United Bank for Africa (UBA) Plc on Monday announced the appointment of Abiola Bawuah as Chief Executive Officer (CEO) of UBA Africa. The Ghanaian, who is the first female CEO of UBA Africa, will also join the Group Board as an Executive Director, overseeing the Group’s operations across the African continent outside Nigeria. UBA operates in 19 African countries beyond Nigeria, in addition to global operations in New York, London, Paris and the UAE. READ ALSO: It…

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N900bn Old Naira Still In Circulation – CBN Speaks On Feb 10 Deadline

ADEOLA YUSUF

“It remains a crime to reject old Naira Notes until 10th of February, which is about 15 days to the presidential elections”   President Muhammadu Buhari has finally extended the deadline for the exchange of old naira notes by 10 days. Platforms Africa reports that this information was conveyed through the the Central Bank of Nigeria (CBN). This means it remains a crime to reject old Naira Notes until 10th of February, which is about 15 days to the presidential elections. READ ALSO: Fuel Crisis, Naira Redesign Plots Against My…

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Drama As Beggars Reject Old Currency In Kaduna

ADEOLA YUSUF

There was a mild drama at the popular Kano-road, Kaduna on Wednesday, when some group of beggars, rejected old 1,000 naira notes gifted to them by a good Samaritan. Our correspondent who witnessed the drama narrated that a young was accosted by three beggars on wheelchairs as he alighted from a bus, realising they were asking for handouts, the man took an N1000 note from his wallet and stretched it towards the most senior beggar among the three. However, in a rather hilarious reaction, the beggars looked at themselves, swiveled…

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GTBank Guilty of Money Laundering, UK Slams £10m Fine On Bank

ADEOLA YUSUF

“UK is not Nigeria where they violate rules with impunity. The GTBank is also sanctioned for violating the strict know your customer rule in UK”   GTBank UK Ltd, a subsidiary of GTCO was fined over £10m for not adhering to the very strick know your customer, anti-money laundering rules. Platforms Africa reports that the total fine was £10m but FCA have them a 30% discount if they pay within 30 days. READ ALSO EXCLUSIVE: Customers Kick as GTBank’s Network Glitch Drags into Second Week Shell, AFC, GTBank, 6 Other…

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BREAKING: Buhari Signs N21.83trn 2023 Budget

ADEOLA YUSUF

Ganiyu Amodu President Muhammadu Buhari has signed the N20.83 trillion 2023 Appropriation Bill into law. The President, during a brief signing ceremony inside the Council Chambers of the Presidential Villa, Abuja, had senior government officials present. President Buhari received the Bill, which was passed by both the Senate and House Representative last week, from his Senior Special Assistants on National Assembly Matters, Senator Jide Omoworare (Senate), and Nasiru Ila (House of Representatives). President Buhari said the implementation of the 2023 budget would commence without delay. He charged the National Assembly…

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Argentina Mulls Printing Messi’s Face on Banknote

ADEOLA YUSUF

After the talismanic forward guided Argentina to their first World Cup win since 1986 in Mexico, Lionel Messi has been at the centre of discussions to have his face put onto a new 1,000 peso bill, Daily Mail reports. According to a local newspaper, El Financiero, the Central Bank of the Republic of Argentina is eager to mark the national team’s historic win in Qatar and has been working on ideas since before the epic 4-2 shootout win in the final over France. Mock-ups of the 1,000 peso note being discussed…

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BREAKING: CBN Bows to Pressure, Ups weekly Cash Withdrawal Limits To N500k

ADEOLA YUSUF

Withdraw above N500k, pay 3% processing fee, apex bank tells Nigerians   The Central Bank of Nigeria (CBN) has revised its cash withdrawal limit policy, stating that individuals and corporate organisations can now withdraw weekly N500,000 and N5 million respectively. Platforms Africa reports that the apex bank announced this in a letter dated December 21 and signed by the CBN Director of Banking Supervision, Haruna Mustafa. The letter, which was made available to PlatformsAfrica, was addressed to all deposit money banks and other financial institutions. “The maximum weekly limit for…

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Sterling Bank Named Best Employer Fifth Time in a Row

ADEOLA YUSUF

Sterling Bank PLC has set a new milestone by winning the Overall Best Place to Work title for the fifth consecutive year at the annual Great Place to Work awards held in Lagos recently. The award recognises the best Nigerian firms to work for, with Sterling receiving first place in the Large Corporates category. ahead of multinationals such as DHL and Deloitte. The win cements the bank’s reputation as the greatest workplace in Nigeria and sets a new standard for the award’s history. In addition to also receiving the Legends…

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

ADEOLA YUSUF

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, spoke about why the…

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