Business
Naira depreciates by 0.3% to N1,539.39 per dollar
The Naira recorded a slight loss at the official market on Wednesday, trading at N1,539.39 per dollar. Data from the Central Bank of Nigeria (CBN) showed that the Naira closed the trading session at N1,539.39 to the dollar. This represents a slight loss as the local currency traded on Tuesday…
Read More »TCN announces rationing of power supply in FCT for road dualisation
The Transmission Company of Nigeria (TCN) has announced the rationing of power supply for Abuja Electricity Distribution Company (AEDC)’s customers in parts of the Federal Capital Territory (FCT) between Jan. 6 and Jan. 20. Mrs Ndidi Mbah, TCN’S General Manager, Public Affairs made the announcement in a statement in Abuja…
Read More »Nigerians Now Consume 336 Gigabytes Per Second Amid Rapid Digital Shift – NCC
The Nigerian Communications Commission (NCC) has reported a dramatic rise in the country’s daily data consumption, with usage soaring by 39% compared to last year, now averaging 336 gigabytes per second. This increase reflects Nigeria’s ongoing embrace of a data-driven economy and digital lifestyle. Speaking at the 93rd Telecom Consumer…
Read More »ATCON Urges Prompt Action on Tariff Review Amid Industry Challenges
The Association of Telecommunications Companies of Nigeria (ATCON) has renewed its call for the federal government and regulators to consider a tariff increase for telecommunications services, highlighting the urgent need to address the financial challenges facing the sector. ATCON President, Tony Emoekpere, emphasized this during an interview in Lagos on…
Read More »Access Bank to acquire 100% equity Stake in South Africa Bidvest Bank
Access Holdings Plc (“Access Holdings”) has announce that its banking subsidiary, Access Bank Plc (“the Bank”), has entered into a binding agreement with South Africa-based Bidvest Group Limited for the acquisition of a 100% equity stake in Bidvest Bank Limited (“Bidvest Bank”). A statement by Head, Media Relations, Access Holdings…
Read More »Access Bank Completes Acquisition of Standard Chartered Subsidiaries
Access Bank PLC has officially acquired Standard Chartered Bank Angola S.A. and Standard Chartered Bank (Sierra Leone) Limited. This development was disclosed in a statement signed by the Company Secretary, Sunday Ekwochi. The acquisition follows the July 2023 agreement between Access Bank and Standard Chartered Bank for the purchase of…
Read More »Access Bank Dismisses Allegations of Missing N500 Million
Access Bank has officially denied allegations of a missing sum of N500 million from a customer’s account, as claimed by social media influencer Vincent Otse, popularly known as VeryDarkMan. VeryDarkMan, in a viral video accused the bank of sharp practices involving the account of a deceased customer to the tune…
Read More »CBN cautions public on consequences of fake SWIFT
The Central Bank of Nigeria (CBN) has reacted to claims by private entities, individuals, law firms and government agencies that foreign currency funds allegedly transferred to them by foreign entities have yet to be credited to their accounts with Nigerian banks, saying those concerned should direct such inquiries to the…
Read More »Access Bank (UK) Acquire Majority Stake in Mauritius-Based AfrAsia Bank Limited
Access Holdings PLC (“Access Holdings”) has announce that The Access Bank UK Limited (“Access UK”), a subsidiary of its banking group, has entered into a binding agreement to acquire a majority equity stake in AfrAsia Bank Limited (“AfrAsia Bank”), the third-largest bank in Mauritius by total assets. Mauritius, known for…
Read More »NDIC commence auction of landed properties, Chattels of defunct Heritage bank
In a bid to ensure timely declaration of liquidation dividends to uninsured depositors of the failed Heritage Bank (In-Liquidation), the Nigeria Deposit Insurance Corporation (NDIC) has commenced process for the auction of landed properties and chattels of the failed bank. This exercise is in pursuant of the Corporation’s statutory powers…
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