Amidst criticism that trailed its earlier policy on over-the-counter (OTC) and ATM/POS cash withdrawal limit, the Central Bank of Nigeria has reviewed the weekly cash withdrawal limit across all channels by individual and corporate organizations. What is the new withdrawal limit? A circular signed by CBN’s Director of banking supervision, Haruna Mustafa pegged the weekly…
Building wealth may be an extremely difficult endeavor, but losing it can happen almost effortlessly. Sam Bankman-Fried, previously celebrated CEO of crypto exchange FTX and crypto trading firm Alameda Research, is a prime example of how wealth can easily be gone with the wind. What’s his story? Once described as the “Next Warren Buffett,” and…
Vice President Yemi Osinbajo has called on the Central Banks of Nigeria to open up its scope of banking operations so as to accommodate more players, especially from the blockchain technology financial services. The Vice President, while delivering a keynote address at the third edition of the Nigeria Digital Economy Summit with the theme: “Web3.0,…
The exchange rate between the naira and the US dollar fell to an all-time low at the close of the week’s trading, depreciating by 0.58% at the official investors and exporters window. The local currency had recorded some gain in the previous trading session but took a downturn at the close of trading on Friday…
The exchange rate between naira and the US dollars depreciated at the Investors and Exporters window, at the beginning of this week’s trading to exchange at N434.75k, representing a 0.75% decrease when compared with N431.50k the currencies traded as at the close of business last week. An exchange rate of N437.50k to the dollar was…
National Bureau of Statistics in its latest sectoral distribution of value-added tax for the second quarter of the year 2022, said Nigeria generated the sum of N600.15 billion Naira as Value-added tax, VAT. The figure represents a slight increase of 1.96% from the N588.59 billion recorded in the first quarter of the year. Tell me…
