In a recent announcement, the Central Bank of Nigeria (CBN) has moved to clear up any misconceptions surrounding the acceptance of its issued banknotes. Amid concerns that old banknotes might lose their legal tender status by December 2023, leading to their rejection in certain regions, the CBN has reaffirmed
Category: Business
Otedola Acquires More Millions Of Shares In Geregu
After surpassing Tony Elumelu as the majority shareholder in Geregu Power Plc, Nigerian billionaire investor Femi Otedola has acquired additional shares in the company. According to the company’s records as of 2022, Otedola already controls 95.56% of the company’s shares, equivalent to 2,388,922,308 shares. Geregu’s free float stands at 111,073,957
Access Bank Receives Approval To Take Over Atlas Mara Of Zambia
The proposal of the Access Bank to merge with the African Banking Corporation Zambia Ltd, Atlas Mara Zambia, has been approved by Zambia’s Central Bank. The progress came following about two years of negotiations. Consequently, the operations of the Access Bank Zambia, a subsidiary of the Access Bank, will be
CBN Moves To Massively Flood Economy With Banknotes
The apex bank, the Central Bank of Nigeria, CBN, has affirmed the release of banknotes to commercial banks all over the country. This is part of the efforts to save Nigerians the hardship of currency scarcity across the country. The apex bank similarly ordered commercial banks to open at weekends
NLC Cautions Imo Residents To Be Ready For Its Imminent Indefinite Strike
The Nigerian Labour Congress, NLC, has warned the people of Imo State to prepare for its impending indefinite industrial action. Joe Ajero, the President of the labour union, in a press release, stated that the government of Imo State had intentionally terrorised residents of the state via unpleasant behavior of
Naira Gains More value As It Exchanges At 461 At Exporters, Investors’ Window
The Nigerian Naira had yesterday gained more against the United States Dollar at the exporters and investors’ window as it now exchanges for N461 a dollar. The currency had exchanged at N461.25 to a USD on Wednesday. The difference represents a 0.05% increase for Nigerian Naira. The day’s transactions witnessed
Goods News To Manufacturers As Bank Of Industry, NCDMB Launch Fund To Boost Manufacturing Of Oil & Gas Gadgets
The Bank of Industry and the Content Development and Monitoring Board, NCDMB, has launched about fifty million Dollars to aid NOGAPS Manufacturing Product Line. The money was targeted at providing companies with incentives to operate within the Oil and Gas parks in the country and be able to manufacture components
