CBN

International airfares skyrocket as exchange rate jumps by 38%

International airfares skyrocket as exchange rate jumps by 38%

Shelf /

  International airfares on Nigeria routes to various global destinations, have skyrocketed again as the International Air Transport Association’s exchange rate for ticket sales has risen by 37.5 percent above the official rate. Findings indicate that IATA, the global trade association for world airlines, had approved the sale of flight tickets in Nigeria at N634/dollar. […]

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“Encourage local manufacturers to bridge metering gap,” Group to FG

“Encourage local manufacturers to bridge metering gap,” Group to FG

Energy /

  The Electricity Meters Manufacturing Company Ltd. (MEMMCOL), has called on the Federal Government to increase its support and encouragement to indigenous meter manufacturers to bridge the nation’s metering gap. The Chairman, MEMMCOL, Kola Balogun, made the appeal at the graduation ceremony of 10 youths on a five-week Printed Circuit Board (PCB) training course in

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Why you must defend yourself against internet fraud

Why you must defend yourself against internet fraud

Campaigns, Finance, Shelf /

  People used only cash for transactions for a very long period, and most forms of payment were physical. But as digital technologies proliferated, transactions increasingly became contactless and migrated online. In nations like Nigeria, cash is still monarch, but since the pandemic, many people have started using electronic payments. In a study titled “Instant

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Bank customers continue to lament cash crunch 72hrs after elections

Banks continue to ration Naira notes to customers despite CBN directive

Finance /

  Despite the Central Bank of Nigeria (CBN)’s recent directive on the validity of Naira notes, Deposit Money Banks (DMBs), Microfinance Banks (MFBs) across the country continued to ration bank notes to customers. The CBN had in a directive on Monday, stated that it met with the Bankers’ Committee and has directed that the old

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What do you know about Open Banking?

Campaigns, Education, Energy, Finance, FMCG, Gaming and Betting, Health Care, ICT/Telecom, Shelf, Travel and Hospitality /

What do you know about Open Banking? Overall, while open banking promises tantalising benefits, it is important to be aware of the risks involved especially now that the CBN has given a nod to it. You must note that when you share your banking information with third-party providers, you just might be giving up some

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Why CBN told Nigerians to demand new naira notes from banks

Why CBN told Nigerians to demand new naira notes from banks

Campaigns, Education, Shelf /

  THE Central Bank of Nigeria, CBN, has advised traders and residents of Bayelsa State to reject old notes from banks, emphasizing that they have the right to demand that new redesigned Naira notes be issued to them. The Controller, CBN Yenagoa branch, Mr. Francis Asuquo, stated this at the Swali Ultra Modern Market, Yenagoa

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Why redesigned naira notes is actually for the benefits of Nigerians

Why redesigned naira notes is actually for the benefits of Nigerians

Campaigns, Education, FMCG /

  Truly, knocks have trailed the freshly redesigned naira notes almost at launch. Consumertrics reminds you that the Governor of the Central Bank of Nigeria, Godwin Emefiele, on October 26, 2022, announced that new Naira notes would be introduced to replace the current 200, 500, and 1,000 Naira notes. The CBN governor did also hint

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FCCPC, NCC, LASCOPA others push for regulation of digital lending

Finance /

Some experts including the representatives of the Federal Competition and Consumer Protection Commission (FCCPC); Nigerian Communications Commission (NCC); and the Lagos State Consumer Protection Agency (LASCOPA) have reinforced the need for proper regulation of digital lending and borrowing. This happened at the recent Consumertrics workshop, themed Responsible Borrowing and Lending: Balancing Access to Credit and

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