“Nigeria Spent N10.4trn On Fuel Subsidy In 14 Years”- FG

The Federal Government, yesterday, disclosed that Nigeria spent a whooping N10.413 trillion on fuel subsidy between 2006 and 2019, a period of 14 years. Minister of Information and Culture, Alhaji Lai Mohammed, who made the disclosure at a media briefing in Abuja, said the quantum of fund spent subsidising petroleum products during that period translated […]

Scam Alert: Another Bank Fraud Using SIM Card Cloning

There are indications that bank customers are on the verge of losing confidence in electronic banking as frauds associated with the system threatens their life savings through a Subscriber Identity Module (SIM) card cloning. SIM cloning is the process in which a legitimate SIM card is duplicated by a fraudster and used in a different […]

UK Officially Enters Recession, Records 20.4% Contraction

The UK economy has suffered its worst slump on record between April and June 2020 as COVID-19 lockdown measures pushed the country officially into recession. The country’s economy experienced 20.4 percent contraction between the first and second quarter, the biggest since records began in 1955. Household spending tumbled as shops were ordered to close, while […]

Tanker Drivers’ Strike: Fuel Scarcity Imminent In South-West- IPMAN

The Independent Petroleum Marketers Association of Nigeria  has said the withdrawal of service by petroleum tanker drivers in Lagos State as from Monday, August 10, 2020 will cause fuel scarcity in the entire South-West and beyond. The Chairman of IPMAN, Ore Depot, Mr Shina Amoo, said this on Saturday in an interview with newsmen in […]

EXPOSED: How CBN Prevents The Value Of Naira To Appreciate Against The US Dollar

One of the major reasons why the Central Bank of Nigeria has prevented financial institutions in the country from paying United States dollars to persons receiving money from friends and family members based overseas has been uncovered. According to documents seen by SaharaReporters, the apex bank, which has refused to disclose the exact foreign remittances it […]

Unifying Exchange Rate Will Lead To Further Devaluation Of The Naira—Sanusi

At the AZA  Webinar hosted by AZA Africa’s biggest non-bank currency broker some of the most critical aspects of Africa’s debt relief implementation was discussed. Here is closing remarks by former Central Bank of Nigeria Governor and the 14th Emir of Kano Mohammad Sanusi II, said. He also kicked against spending cut and raising taxes.  […]

Zenith Bank Emerges As The Best Bank In Nigeria In Global Finance World’s Best Banks Awards

Zenith Bank Plc, Nigeria’s leading financial institution, has emerged as the Best Bank in Nigeria in the recently released Global Finance Magazine World’s Best Banks Awards 2020. Published in the May 2020 edition of the Global Finance Magazine, the awards was based on the performances of the banks in their respective regions and countries over the […]