Directors of the United Bank for Africa, Zenith, Guaranty Trust Bank, and First Bank of Nigeria and those of six other banks pocketed N6.96bn sitting allowance and compensation in 2021. The others are Union Bank for Nigeria Plc, Stanbic IBTC Holdings Plc, FCMB group Plc, Wema Bank Plc, Fidelity Bank Plc and Unity Bank Plc. […]
How UBA, Zenith, GTB, FBN directors pocketed N6.9bn in allowances Read More »
The Bureau of Public Enterprises has further clarified its role in the takeover of five poor performing power distribution companies, naming Ibadan DisCo the worst of them. Ibadan DisCo is originally managed by former banker Tunde Ayeni. According to Alex Okoh, BPE’s director-general, Ayeni’s Integrated Energy Distribution and Marketing Limited (IEDM) “is the worst performing
How Tunde Ayeni’s IEDM mismanaged Ibadan DisCo – BPE Read More »
The Lagos State Internal Revenue Service (LIRS) says tax payers could make payment only by using the Enterprise Tax Solutions (e-Tax). The LIRS says it will no longer accept generated bill references from payment sources, effective from August 1, 2022. Ayodele Subair, LIRS executive chairman, stated this in a statement the agency issued. Subair said
Lagos taxpayers to use only enterprise tax solution (eTax) for payment – LIRS Read More »
Money Deposit Banks (MDB) have continued to act in defiance of the Central Bank of Nigeria (CBN) guidelines specifically reducing the payable charge for Remote-on-Us transactions. For clarity, Remote-on-Us transaction is when a bank customer withdraws from another bank’s ATM. The guidelines, released in January 2022, had among other reviews pegged bank service charge for
GTB, Zenith, UBA, others shun CBN’s order on ATM withdrawal fee Read More »
The Central Bank of Nigeria (CBN) has set a new guideline absolving commercial banks and payment service providers (PSP) of responsibility in situation where a customer making a transfer from N1million and above suffers a fraud. According to the policy, banks and PSP, like Remita, Quickteller e.t.c, are required to issue customers indemnity forms for
CBN policy fails to protect bank customers regarding online transfer fraud Read More »
Amazon has launched in Nigeria and it is expected to compete with renowned platforms like Jumia, Konga, Jiji and others operating in the online market space. The American e-commerce giant has started recruiting staff prior to the opening of its Nigerian office. Consumertrics gathered that Amazon will officially open its doors to business in 2023.
Amazon to compete with Jumia, Konga, others Read More »
The Securities and Exchange Commission (SEC) says unclaimed dividends, as at December 31, 2021, had totalled N180 billion. This, according to the commission, amount 5 per cent of the total dividends declared by companies trading at the domestic exchanges. Lamido Yuguda, SEC’s director-general, said the commission is worried over the development and it is currently
SEC worried over N180 billion unclaimed dividends Read More »
The Federal Government of Nigeria says it has redeemed $300million Diaspora Bond. The Bond was issued on June 27, 2017, for a tenor of five (5) years in the International Capital Market, matured on June 27, 2022. The government says it used part of the proceeds to finance the deficit in the 2017 Appropriation Act.
Nigerian Govt. Redeems $300m Diaspora Bond Read More »
A new report compiled by the CEOWORLD magazine has found the best African countries to become an entrepreneur. The Entrepreneurship Index evaluates a total of 100 economies based on a wide range of factors to create an overall “best countries for entrepreneurship” index, including innovation, competitiveness, infrastructure, labour skills, access to capital, and openness for business.
10 best African countries to be an entrepreneur Read More »
A major complaint by consumers of banking services in Nigeria is the multiplicity of charges being levied on transactions. Some of such charges are questionable and against regulatory instructions. Consumertrics findings reveal a preponderance of bank customers is unhappy with the reality but often fail to ask questions, or lodge a complaint in situations of
This Is How To Know If Your Bank Is Stealing Your Money Read More »
