Egypt demands Okonjo-Iweala’s candidature for WTO disqualified

Egypt has officially demanded that Ngozi Okonjo-Iweala’s nomination to contest for the office of the director-general of the World Trade Organisation (WTO) should not be recognised. Egypt through its representation said member states of the African Union (AU) had been required to nominate candidates for the director-general position by November 30, 2019 — over five[...]

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CBN-led coalition to tackle coronavirus has raised N15 billion

The Central Bank of Nigeria (CBN) has said monetary contributions to the account set up under the Private Sector Coalition Against COVID-19 (CACOVID) stands at about N15 billion as at Wednesday, April 1. The CBN spokesperson, Isaac Okorafor, said the list of 37 donors include individuals, banks and other corporate organisations. Details of the contributions showed that[...]

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CBN suspends cheque clearing indefinitely

The Central Bank of Nigeria (CBN) has directed that cheque clearing should be suspended. According to a notice signed by Sam Okoreje, director of CBN banking services department, the suspension is effective from March 31 The notice said the suspension is related to the lockdown in Lagos, Ogun and Abuja announced by the president on[...]

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Access Bank shuts VI branch after customer tested positive for coronavirus

Access Bank Plc says it has temporarily closed its Ligali Ayorinde branch for thorough disinfection. This comes after a customer who visited the branch on Monday, March 16, tested positive for coronavirus. According to a statement released on Monday by the bank, the individual was symptom-free at the time of the visit. “We have just[...]

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Shell signs innovative $10b revolving credit facility

ROYAL Dutch Shell Plc has signed a $10 billion revolving credit facility. The new facility replaces Shell’s existing $8.84 billion revolving credit facility and is provided by a syndicate of 25 banks. The oil giant said in anticipation of the cessation of the London Interbank Offered Rate (LIBOR), this is one of the world’s first[...]

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Insurance Company pays over N1.4 billion in Claim in 8months, Here’s Why

Niger Insurance Plc said that it paid N1.4 billion claims in nine months from April to December 2019. Managing Director of the company, Mr. Edwin Igbiti, disclosed this at a press conference in Lagos, adding that other outstanding claims will be paid soonest. He said: ”The situation regarding unpaid claims and outstanding customer benefits can[...]

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Chairman FIRS extols Digital Currency as the new Gold

Chairman of the Federal Inland Revenue Service (FIRS), Babatunde Fowler, has described the digital space as the new gold in revenue generation in the country. Fowler said this in his opening remarks at the third annual Nigeria Tax Research Network conference which held at the FIRS Training School in Durumi, Abuja. The conference is themed:[...]

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Musician Akon warns against celebrity-backed cryptocurrencies

Senegalese-American singing star Akon has warned against celebrity-endorsed cryptocurrency – as he prepares to launch his own branded Akoin to the world. Boxing legend Floyd Mayweather is just one celebrity to have been caught up in a cryptocurrency controversy in recent years for his work with Centra, which claimed to have partnerships with Visa and[...]

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Breaking: OneCoin Cryptocurrency website taken down for investigation by FBI as Dr. Ruja and all promoters disappears with over $10b worth of investments in biggest global fraud

OneCoin cryptocurrency website has been taken down. OneCoin.eu web page no longer exist. The FBI has ordered the operation to investigate the global fraud involving over $10b that has shaken regulators across the world. Ruja Ignatova called herself the Cryptoqueen. She told people she had invented a cryptocurrency to rival Bitcoin, and persuaded them to[...]

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