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Africhange Secures IMTO Licence To Facilitate Remittance Flows To Nigeria

Africhange Secures IMTO Licence To Facilitate Remittance Flows To Nigeria

Africhange, a leading cross-border remittance service provider, announced on Thursday that its Nigerian subsidiary, Currenzo, has secured the International Money Transfer Operator [IMTO] licence from the Central Bank of Nigeria (CBN). In a press release,…

NACCIMA Boss Berates Banks’ Trillion Naira Profits

NACCIMA Boss Berates Banks’ Trillion Naira Profits

…says earnings at variance with lending As some banks continue to declare their annual profits in trillions of naira, the National President, Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA), Dele Kelvin…

Report: Naira Drops To Fresh Lows As Liquidity Dwindles

Report: Naira Drops To Fresh Lows As Liquidity Dwindles

Record-high fixedincome yields and Central Bank of Nigeria (CBN) intervention have failed to stem the naira’s slide, with the local currency hitting a fresh record low this week, according to a Bloomberg report. The report…

Surge In Credit To Govt Threatens CBN’s Inflation Fight’

Surge In Credit To Govt Threatens CBN’s Inflation Fight’

The recent sharp rise in financial institutions’ loans to the government could hamper Central Bank of Nigeria’s (CBN) efforts to rein in inflation, analysts at FBNQuest Research have said. The analysts stated this while commenting…

RMB Nigeria Successfully Registers N40bn Issuance Programme

RMB Nigeria Successfully Registers N40bn Issuance Programme

RMB Nigeria Issuance SPV PLC, a funding vehicle incorporated to support RMB Nigeria in raising financing from the public debt capital markets, achieved a significant milestone with the successful registration of its N40 billion Multi-Instrument…

FirstBank Hosts Fintech Summit 6.0

FirstBank Hosts Fintech Summit 6.0

FirstBank has announced that its 6th annual Fintech Summit, with the theme, “Banking on Partnerships,” which is scheduled to hold on November 13 and 14, 2024, will bring together renowned subject matter experts, innovators, and…

Naira Plunges To N1,681.65/$1 On Official Market

Naira Plunges To N1,681.65/$1 On Official Market

The naira fell to a fresh record low on the official market on Wednesday, closing at N1,681.65/$1 compared to N1,671.32/$1 on the previous day, data from FMDQ shows. However, the local currency was unchanged at…

Thomson Reuters Posts Revenue Of $1.72bn In Q3

Thomson Reuters Posts Revenue Of $1.72bn In Q3

Thomson Reuters on Tuesday reported higher than expected third-quarter revenue as it continued to invest in generative AI. The Toronto-based content and technology company reported a quarterly revenue rise of eight per cent to $1.72…

AfDB Report Highlights Health Tech’s Potential To Boost Continent’s Health Systems

AfDB Report Highlights Health Tech’s Potential To Boost Continent’s Health Systems

A new study co-funded by the African Development Bank (AfDB) has found that applying technology to healthcare delivery, management, and research could provide more Africans with universal health coverage and significantly advance Africa’s progress towards…

Report: Global Central Bank Easing Cycle Continued In October

Report: Global Central Bank Easing Cycle Continued In October

The global monetary easing cycle ground along in October, with central banks across developed and emerging economies lowering interest rates ahead of the year’s biggest geopolitical event, the U.S. election, according to a Reuters report.…