The Nigeria Labour Congress (NLC) strongly denounces the recent directive issued by the Central Bank of Nigeria (CBN) to impose a 0.005 percent Cybersecurity Levy on electronic transfers. This levy, set to be deducted at transaction origination, adds yet another burden to the already strained finances of hardworking Nigerians. The […]
FinTech
The Central Bank of Nigeria (CBN) has instructed banks operating in the country to commence charging a cybersecurity levy on transactions, according to a circular issued on Monday. The implementation of this levy is set to begin two weeks from the date of the circular. The directive, applicable to all […]
In the first quarter of 2024, cash transactions in Nigeria surged to a staggering N237 trillion, marking an 88 percent increase from the previous year’s N126 trillion, according to new statistics from the Nigeria Interbank Settlement System (NIBSS). This surge underscores the country’s growing reliance on electronic payment channels, […]
The Securities and Exchange Commission (SEC) has revealed plans to implement new guidelines aimed at licensing, registering, and screening digital and virtual assets service providers (VASPs). VASPs, as defined by the Central Bank of Nigeria (CBN), are entities facilitating exchanges between virtual assets (cryptocurrencies) and fiat currencies, as well as […]
Bowed by the ecstasy of the recently concluded African Cup of Nations (AFCON) 2023 and the enthusiasm of the continents football fans, TECNO Mobile has announced a groundbreaking initiative to renovate 100 football fields across AFRICA over the next five years. This ambitious project, aimed at improving infrastructure at the […]
CBN Undergoes Major Restructuring: Plans to Relocate Key Departments to Lagos Amidst Staff Discontent The Central Bank of Nigeria (CBN) is undergoing significant changes under the leadership of Governor Yemi Cardoso, with plans to relocate major departments from the Abuja headquarters to the former headquarters in Lagos, Southwest Nigeria. This […]
In a thrilling start to the new year, TECNO is unleashing an exciting promo for its users and customers across Nigeria. This promo promises many fantastic prizes, including cashback, fabulous gifts, and the coveted SPARK 20 phones throughout January 2024. Read Also:Â TECNO Encourages Innovation To Mitigate Adverse Impact of […]
The completion of Sterling Bank’s transition to solar energy at its headquarters, Sterling Towers in Marina, Lagos State, marks a groundbreaking achievement in sustainable practices within the financial sector. This move signifies a notable milestone in demonstrating how economic progress can align with environmental conservation, setting a precedent for […]
Due Network, a dynamic fintech startup, has revealed its upcoming launch of a global payment platform aimed at transforming international transactions within Nigeria. This platform promises to facilitate borderless multi-currency accounts, streamlining global money transfers for both individuals and businesses, as highlighted by the firm. Read Also:Â NCC Recognizes Fintech […]
The Nigerian Communications Commission (NCC) has emphasized its dedication to fostering the growth of the Fintech sector through strategic regulatory measures. Speaking at the 2023 NITRA Financial Technology (Fintech) Forum in Lagos, Dr. Aminu Maida, the Executive Vice Chairman of NCC, emphasized the increasing influence of Fintech in transforming […]
