Polaris Bank has commenced implementation of the regulatory Central Bank of Nigeria (CBN)’s extra N5 for every Dollar received into domiciliary accounts or as cash over the counter. The acting Managing Director/CEO of Polaris Bank, Mr. Innocent C. Ike disclosed that “growing evidence has shown a positive relationship between diaspora …

The National Information Technology Development Agency (NITDA) has placed a N5 million (Five Million Naira) fine on Electronic Settlement Limited over breach of personal data. NITDA said that it discovered the data breach after analysing the company’s applications and websites; visiting the company’s office in Lagos, reviewing its technical documents and interrogating its officials. …

Zenith Carex International Limited has been blacklisted by Global Fund for an alleged $3 million fraud. According to Premium Times, Zenix Carex was accused of systematically inflating invoices for the distribution of health commodities to warehouses and health facilities throughout Nigeria. In its latest report published March 9, the Office of the Inspector General (OIG) of …

The Christian Association of Nigeria (CAN) has sued the federal government over the implementation of the Companies and Allied Matters Act (CAMA) 2020. On August 7, President Muhammadu Buhari signed CAMA into law. The law stipulates that religious bodies and charity organisations will be regulated by the registrar-general of the Corporate Affairs Commission (CAC) …

A report by the National Bureau of Statistics (NBS) released on Monday revealed that Nigeria’s unemployment rate rose from 27.1 per cent in the second quarter of 2020 to 33.3 per cent in the fourth quarter of 2020. The NBS stated in its report on ‘Labour force Statistics: Unemployment and underemployment report- Abridged labour …

Ecobank Nigeria Limited has launched the Super Rewards Scheme, which gives 200 of its customers an opportunity to earn different cash gifts monthly, with four of them becoming millionaires at the end of the four months campaign. Korede Demola-Adeniyi, Head, Consumer Banking, Ecobank Nigeria, who announced the commencement of the campaign in Lagos …

Bandits have stormed UBE Primary School in Rama village, abducting many pupils and teachers in Birnin Gwari Local Government Area of Kaduna State. Residents of the community disclosed that the incident occurred around 9am on Monday while pupils were trooping into the school. A resident, Abdulsalam Adam, told Daily Trust that …

  The Academic Staff Union of Universities (ASUU) on Sunday warned it may resume its suspended strike over victimization of members and non-payment of salaries. It accused the Federal Government of victimising its members and tactically avoiding payment of their salaries for up to 10 months. In a statement by the chairman, University of Ibadan …

The Nigerian Navy has said that 257 senior officers, including 60 Rear Admirals, 123 Commodores and 74 Captains have been redeployed. According to a statement by the Director of Information, Nigerian Navy, Commodore Suleiman Dahun, the shakeup was sequel to the appointment of new Service Chiefs. The statement read in part that, “The Nigerian Navy has …

First Bank of Nigeria Limited, Nigeria’s premier and leading financial inclusion services provider, has announced the launch of First Global Transfer (FGT) to promote international transfer of funds across its subsidiaries in sub-Saharan Africa. The Bank’s subsidiaries in Africa include FBNBank DRC, FBNBank Ghana, FBNBank Gambia, FBNBank Guinea, FBNBank Sierra-Leone, FBNBank …