Wapic Unveils New Product

Wapic Life said it had introduced a product called Wapic smart life+ Plan, to enable individuals to save and meet their targets. A statement obtained from the company

No Sick Bank in Nigeria- NDIC

Alhaji Umaru Ibrahim, managing director and chief executive, Nigeria Deposit Insurance Corporation (NDIC), has dismissed rumours making the round that some banks in the

IFC Invests in Africa Local Currency Bond Fund to Support Capital Markets

IFC, a member of the World Bank Group, has announced that it is investing $20 million in debt in the African Local Currency Bond Fund (ALCB Fund Ltd.) to help develop

CBN Reiterates Need to Secure Payment Systems

Central Bank of Nigeria (CBN) has reiterated the need to secure payment systems in the country stem fraudulent activities in the financial sector. Mr Dipo Fatokun,

SEC Says 2.2m Registered for eDividend

Mr. Mounir Gwarzo, director-general, Securities and Exchange Commission (SEC) yesterday said that a total of 2.2 million investors have registered for the edividend

Godwin Emefiele, Governor, Central Bank of Nigeria

CBN to Revoke Banks’ Licences over Money Laundering, Others

The Central Bank of Nigeria (CBN), said it would revoke the operating licences of micro finance banks, and other financial institutions (OFIs), due to non-compliance

Why Ponzi Schemes Thrive Despite Risks

Largely unheralded for a long time, Ponzi schemes came to the consciousness of the entire nation in 2016. With the descent of the Nigerian economy into its first full

IMF Predicts 2.6% Growth for Africa

The International Monetary Fund (IMF) has released its 2017 Sub-Saharan Africa Regional Economic Outlook, predicting a 2.6 per cent growth. Mr. Abebe Selassie, head of

FXTM: Markets Directionless After Fear Gauge Hits A 24-Year Low

FXTM Chief Market Strategist Hussein Sayed comments on the CBOE Volatility Index. The CBOE Volatility Index fell yesterday to the lowest level since 1993 to trade in

CBN Hikes Cards Maintenance Fee

Central Bank of Nigeria (CBN) has hiked fees charged by banks on debit and credit card maintenance from N100 a year to N50 per month. The new tariff regime takes effect