The Central Bank of Nigeria (CBN) has expressed readiness to continue partnering with Microfinance Bank in the Micro Small and Medium Enterprises (MSME), Agricultural credit guarantee scheme, and financial inclusion. Mr. Sah Nyashi, CBN Controller Yola branch disclosed this at the inauguration of Dabtikir Microfinance Bank Limited formally known as Biyama in Hong Local Government Area, Adamawa state on Saturday. Nyashi, represented by Adamu Yusuf, Head of the Currency Management office congratulated people in the area...

First Lady Oluremi Tinubu unveiled the winning fabric of the #OneNigeria Unity Fabric competition on Monday at the State House in Abuja. She awarded N25 million to the designer, Bamidele Mofiyinfoluwa. Mrs Tinubu explained that the project aims to foster creativity, enhance national unity, and support local enterprises to boost the economy. She announced that the winning fabric would be used officially on 1st October for Nigeria’s Independence Day celebrations.   “Our goal is to...

The federal government of Nigeria has announced a new levy on electronic money transfers. Starting on Monday, 9 September 2024, customers of fintech companies such as Opay, Moniepoint, and PalmPay will incur a N50 charge on any transfer of N10,000 or more. According to a notice from Opay, the fee aligns with Federal Inland Revenue Service, FIRS, regulations. “Dear valued customers, please be informed that starting September 9, 2024, a one-time fee of N50 will...

The Jimeta Modern Shopping Complex in Yola North Local Government Area of Adamawa State was built in 1996 but was demolished by the state government for the construction of a new modern structure that will gulp N19.7bn. Mr Iliya James, Commissioner for Information and Strategy, while briefing Journalists Wednesday after the State Executive Council meeting presided over by Governor Ahmadu Umaru Fintiri said the contract for the project was awarded to three different contractors with...

A coalition of Civil Society Organisations (CSOs) has alerted the Central Bank of Nigeria (CBN), the Economic and Financial Crimes Commission (EFCC), the Department of State Services (DSS), the Bankers Committee and the Nigerian media of an organised plot by some vested interest within the Nigerian Banking System to thwart plan to reform the banking sector. The group made up of over eight CSOs, include Centre for Anti-corruption and Open Leadership (CACOL), Constitutional Rights Advocate...