Money and Stocks – Page 4 – Platformsafrica

Trade In Crypto, Get Your Account Blocked, OPay, Moniepoint To Customers

May 4, 2024 ADEOLA YUSUF

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 Central Bank of Nigeria stopped major fintech firms like Kuda, Opay, PalmPay and Moniepoint from onboarding new customers. The CBN’s move was linked to an ongoing audit of the Know-Your-Customer process of the fintechs, which have been under scrutiny in recent months over…

NBS: 24.6m Children In Child Labour — Cross River, Yobe Top Chart

April 19, 2024 ADEOLA YUSUF

The National Bureau of Statistics (NBS) says 24.6 million children in Nigeria are engaged in child labour. NBS disclosed this in a report titled ‘Nigeria Child Labour Survey 2022’ on Thursday. The report showed states like Cross River, Yobe and Abia lead the chart with scores above 60 percent. According to the bureau, child labour is any work that robs children (under 18) of their childhood, potential, and dignity. READ ALSO: Lagos Govt To Extend Blue Rail Line To Ogun Over 577 Sight Impaired Candidates To Sit For 2024 UTME…

NNPC, Total Energies JV Achieves Zero Gas Flare

February 16, 2024 ADEOLA YUSUF

The NNPC Ltd/TotalEnergies Joint Venture has achieved zero routine gas flare in all its assets. This feat was announced on Thursday during an inspection tour of OML 100 in South-eastern Niger Delta, off Port Harcourt, by a joint NNPC Ltd and TotalEnergies Team to ascertain the success of the OML Flare Reduction Project launched in December 2023. Chief Corporate Communications Officer, NNPC Ltd., Olufemi Soneye, in a statement said the feat was in pursuit of meeting the targets of 20% (unconditional) and 47% (conditional) greenhouse gas emission reduction as contained in…

10 Africans Who Are Richer Than Many Countries In The Continent

January 12, 2024 ADEOLA YUSUF

Wealth In their hands: Story, Profile of Top 10 Richest Men In Africa 2024 and list of poorest countries based on GNI per capita in the continent Forbes, the wealth-tracking platform, provides ongoing updates on the net worth and ranking of each individual confirmed by Forbes to be a billionaire. Platforms Africa reports that these 10 billionaires have a net worth that is more than that of some nations in the world, and particularly, many countries in their continent of Africa. The value of individuals’ public holdings are updated…

Betta Chimaobim Edu: 12 Things You Don’t Know About Embattled Minister

January 10, 2024 ADEOLA YUSUF

Medical doctor, Scholar, Public Health from Texila American University, APC ex-National Women Leader: This is the 12-point resume of the 37 year-old first minister ever to be suspended by President Tinubu. A search by Platforms Africa showed some revealing and interesting sides of the suspended minister Of Humanitarian Affairs and Poverty Alleviation. Here, below, are what may need to know. 1. Born October 27, 1986 37 years old 2. Minister of Humanitarian Affairs and Poverty Alleviation (now Suspended – 08 Jan 2024) READ ALSO: BREAKING: Tinubu Cuts 60% Off…

1st Gain In New Year; Naira Appreciates 14% To N895.23 Per Dollar

January 5, 2024 ADEOLA YUSUF

The Nigerian Naira gained against the dollar on Thursday, 4th January 2024 at the official market to record the first gain in the new year 2024. Market watchers expected that a $2.25 billion injection from the African Export-Import Bank (Afreximbank) to ease the country’s forex crunch will have a positive impact on the local currency. The facility was intended to address the acute liquidity shortage in the FX market, since the unification of the FX market by the Central Bank of Nigeria (CBN) on June 14, 2023. READ ALSO: BREAKING:…

CBN: Why There’s Naira Scarcity

December 11, 2023 ADEOLA YUSUF

The Central Bank of Nigeria (CBN) has explained the reasons behind scarcity of naira notes in the country. This comes following a series of complaints by some bank customers on the scarcity of naira notes at the counters, Automated Teller Machines (ATMs), Points of Sale (PoS), and Bureaux de Change (BDCs). In a statement issued by the Corporate Communications Department of the CBN, the apex bank said the seeming currency scarcity was occasioned by large volume withdrawals of cash from various CBN branches by Deposit Money Banks (DMBs). READ ALSO:…

Naira Falls By 17% To N951/$

December 7, 2023 ADEOLA YUSUF

The naira fell by 17.91 per cent to N951.22/$ on the official Investor and Exporter forex window on Wednesday. This was as the dollar supply fell by 4.94 per cent to $135.58m from $142.63m. Data from FMDQ Securities Exchange revealed that the naira lost N144.49 against the dollar after closing trading on Tuesday at N806.73/$. The naira opened trading at N828.33/$ on the day before hitting a high of N1159.10/$ and low of N701.00/$. It eventually closed trading at N951.22/$. Total dollar turnover on Wednesday was $135.58m. READ ALSO: 25…

CBN Moves To Increase Capital Base Of Banks

November 26, 2023 ADEOLA YUSUF

The Central Bank of Nigeria (CBN) has said that it will soon be announcing a new capital base for banks in the country as it said Nigerian banks were not well capitalised to meet the needs of the economy. The CBN governor, Dr Olayemi Cardoso, in his first public speech at the 2023 Bankers Dinner on Friday night, said while there has been stability in the banking sector, banks in the country were not adequately capitalised to meet the need of a $1 trillion economy which the present government was…