Category: Business
CBN warns commercial banks not to load old currencies into the ATMs
11 Jan 2023
Central Bank of Nigeria (CBN) urged commercial banks in the country to comply with the directive of loading the newly redesigned naira notes in their Automated Teller Machines (ATMs). CBN Director, Currency Operations, Mr Ahmed Umar, stated this in Abuja on Monday, Jan. 9. Umar, who spoke at the Training Session for State Directors, National […]
Continue ReadingOnly 1,850 out of the 16,000 that applied will be given admission- LASUSTECH VC
11 Jan 2023
14,150 of the 16,000 candidates that applied for admission into the Lagos State University of Science and Technology (LASUSTECH), Ikorodu, will not be able to achieve the dream. The Vice-Chancellor of LASUSTECH, Prof. Olumuyiwa Odusanya, said on Tuesday that the institution planned to admit 1,850 pioneer students out of the 16,000 candidates that applied for […]
Continue ReadingBuying petrol for N300 per litres is not bad- Timipre Sylva
11 Jan 2023
Nigeria’s Minister of State for Petroleum Resources, Timipre Sylva, has explained that the current pump price of petrol across states is not too bad when other factors causing the hike are carefully considered. The minister, who was addressing a press in Abuja on Monday, said he will not feel bad about buying petrol at N300 […]
Continue ReadingAEDC bemoans Abuja’s ongoing equipment vandalism
10 Jan 2023
The Abuja Electrical Distribution Company (AEDC) is appalled by the ongoing vandalism to its property in Abuja. AEDC also bemoaned the theft of a $5 million underground power wire in the region, which prevented it from providing its services. Donald Etim, the Chief Marketing Officer of AEDC, explained in a statement that recently, 185 meters […]
Continue ReadingCBN cash withdrawal limit starts today
10 Jan 2023
The Central Bank of Nigeria’s policy on restriction on daily cash withdrawal takes off across the country today, Monday, January 9. The maximum weekly limit for cash withdrawals across all channels by individuals and corporate organisations is N500,000 and N5 million, respectively. Individuals or organisations that have a compelling need to withdraw above the approved […]
Continue ReadingWhy the new naira note leaves ink when rubbed on white surfaces- MINT
09 Jan 2023
The Nigerian Security Printing and Minting (NSPM) Plc also called MINT, Friday, explained why the new Naira notes leave ink when rubbed on plain white surfaces while stressing that best international best practice was followed in their production. The company, also referred to as The MINT, is responsible for producing the naira, Nigeria’s currency. In […]
Continue ReadingCovenant University Chancellor set to construct Faculties of Law and Medicine
09 Jan 2023
The Chancellor, Covenant University, Dr David Oyedepo, has announced that the University is set to commence the construction of the facilities for Law and Medicine programmes. The Chancellor made this known while responding to a passionate plea by the President of the Nigerian Bar Association, Mr. Yakubu Maikyau at the University’s 17th Convocation Ceremony on […]
Continue ReadingCBN bans over-the-counter withdrawal of new notes
08 Jan 2023
The Central Bank of Nigeria has ordered Deposit Money Banks not to pay customers making over-the-counter withdrawals of new naira notes again. Instead, the apex bank directed the banks to load their Automated Teller Machines with only new notes to ensure that the currency circulates across the nation ahead of the January 31, 2023 deadline […]
Continue ReadingFG issues a deadline to operators for naming oil well owners
07 Jan 2023
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has given all lease and license holders in the country’s oil and gas industry a seven-day deadline to reveal the true owners of their businesses. NUPRC Chief Executive Gbenga Komolafe signed the order on Thursday. He emphasized that the commission would collaborate with interested parties to put the […]
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