Forex Crisis: no more cash for PTA, BTA applications 

bta

Commercial banks are exploring new ways to address Nigeria’s lingering Foreign Exchange challenge.  What are they doing?  International travelers in need of dollars for Personal Travel Allowance (PTA) and Business Travel Allowance (BTA) will now have to procure travel debit cards as banks commence card-based dollar disbursements. The new procedure has been announced by many … Read more

Egypt Central Bank Governor resigns amid economic woes

Eqypt central bank

The Central Bank Governor of Egypt, Tarek Amer has resigned as the country struggles to address economic woes. His resignation letter did not state any reason for his decision, however, local media reports that President Abdel Fattah Al-sissi has accepted his resignation and has also appointed him as presidential adviser. Any clue about his resignation? … Read more

United Bank for Africa announces new GMD

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United Bank for Africa Plc, Africa’s global bank, has announced the appointment of Mr. Oliver Alawuba as the Group Managing Director. The new GMD will oversee all the Group’s banking operations across its twenty African country network and globally in the United Kingdom, the United States of America, France, and the United Arab Emirates. Who … Read more

E-payment: Nigeria records a 387% rise in usage

A report has shown a significant rise in the usage of electronic payment channels by Nigerians, with utility bill payments via these channels rising by 387% from the N189.50b recorded in the first four months of 2019. What factors contributed to this?The Nigeria Inter-Bank Settlement System (NIBSS) reported a surge in the usage of electronic … Read more

A standard African bailing

The StoryStandard Chartered says it will fully exit operations in seven countries in Africa and the Middle East (AME) region as part of plans to upscale its businesses. Which countries?The countries include Angola, Cameroon, Gambia, Jordan, Lebanon, Sierra Leone and Zimbabwe. In a statement, the bank said it would also exit its consumer, private and … Read more