Business
BPSR Commends NIMASA for Leading Role in Public Service Reforms
The Bureau of Public Service Reforms (BPSR) has applauded the Nigerian Maritime Administration and Safety Agency (NIMASA) for its exemplary efforts in driving public sector reforms, aligning with the Federal Government’s Renewed Hope Agenda. Speaking at a two-day sensitization workshop held in Lagos, the Director General of BPSR, Dr. Dasuki…
Read More »NCC to banks: Stop charging customers on USSD transactions
The Nigerian Communications Commission (NCC) on Tuesday directed all banks to stop debiting USSD transaction charges from customers’ bank accounts, with effect from Tuesday, June 3, 2025. According to a notice sent by United Bank for Africa (UBA) to its customers, the charges for Unstructured Supplementary Service Data (USSD) services will now…
Read More »Persistent power supply shortages major constraints to businesses – Report
Businesses in Nigeria maintained a positive performance streak for the fifth consecutive month in 2025, as current Business Performance Index for May 2025 stands at +9.78, signaling mildly positive business activity, though slightly lower than the +12.29 recorded in April 2025. The Business Confidence Monitor (BCM) is the flagship survey-based…
Read More »NDIC seeks stakeholders’ inputs to IADI core principles for effective deposit insurance
The Nigeria Deposit Insurance Corporation (NDIC) has called for feedbacks from financial services industry stakeholders in the country, policy makers and the general public towards the ongoing revision of the International Association of Deposit Insurers (IADI) Core Principles for Effective Deposit Insurance System. In a statement signed by Head, Communication…
Read More »EU Commission Fines Delivery Hero, Glovo €329m for cartel
The European Commission on Monday issued a fine totaling 329 million ($376 million) to Delivery Hero and former rival Glovo for participating in an online food delivery cartel. German company Delivery Hero became a minority shareholder of Spain-based Glovo in 2018, before acquiring sole control of Glovo in 2022. Delivery…
Read More »Unity Bank, AfriGo Explore Collaboration to Deepen Access to Electronic Payments
Unity Bank Plc has reaffirmed its commitment to advancing electronic payment adoption and financial inclusion by partnering with domestic card scheme provider, AfriGo, to boost card usage across its retail customer segments. This pledge was made during a high-level strategic business engagement held at Unity Bank’s head office in Lagos…
Read More »CBN reassures public on banking sector stability
The Central Bank of Nigeria (CBN) has reacted to certain publications and social media reports which it said contained misleading information regarding the operations of a regulated financial institution while reassuring the public, depositors, and stakeholders that the Nigerian banking sector remains resilient, safe, and sound. CBN in a statement…
Read More »CBN Announces Revised Documentation Requirements for PAPSS Transactions in Nigeria
ConcisedailyNews – The Central Bank of Nigeria (CBN) is pleased to announce a significant review of the documentation requirements for transactions conducted through the Pan-African Payment & Settlement System (PAPSS) in Nigeria. This initiative is part of CBN’s ongoing commitment to foster seamless intra-African trade, financial inclusion, and operational efficiency…
Read More »NDIC to pay first tranche of liquidation dividends to Heritage Bank depositors this month
The Nigeria Deposit Insurance Corporation (NDIC) has confirmed that it would begin the payment of the first tranche of liquidation dividends to depositors of Heritage Bank from April. It would be recalled that Heritage Bank operating licence was revoked by the Central Bank of Nigeria (CBN) on June 3, 2024.…
Read More »Nigeria Posts $6.83 Billion Balance of Payments Surplus in 2024, Signaling Economic Resurgence
The Central Bank of Nigeria (CBN) has announced a Balance of Payments (BOP) surplus of $6.83 billion for the 2024 financial year, marking a decisive turnaround from deficits of $3.34 billion in 2023 and $3.32 billion in 2022. According to a statement by Sidi-Ali, Hakama (Mrs.), Ag. Director, Corporate Communications,…
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