BUSINESS

SERAP urges CBN to withdraw regulations on customers’ social media handles or face legal action

Daily Dispatch June 25, 2023

The Socio-Economic Rights and Accountability Project (SERAP) has urged Acting Governor, Central Bank of Nigeria (CBN) Folashodun Shonubi to “immediately delete the patently unlawful provisions in the CBN (Customer Due Diligence) Regulations directing banks to obtain information on customers’

BUSINESS

CBN, Bill Gates to collaborate on financial inclusion

Daily Dispatch June 25, 2023

The Central Bank of Nigeria (CBN), and the Bill and Melinda Gates Foundation (BMGF) have finalised arrangements for collaboration on financial inclusion. According to a statement from the apex bank, the two groups recently held strategic discussions on how to deepen collaboration on financial inclusion in Nigeria. During the discussions, CBN’s Acting Governor, Mr

BUSINESS

Nigeria’s public debt N49 trillion as March- DMO

Daily Dispatch June 25, 2023

The Debt Management Office (DMO) said the total public debt stock of Nigeria as at March was N49.95 trillion (108.30 billion dollars). According to a statement obtained from the DMO official website on Sunday, the total debt stock comprises the external and domestic debts of the Federal Government, the 36 states and the Federal Capital Territory […]

BUSINESS

CBN orders banks to obtain customers’ social media handles

Daily Dispatch June 24, 2023

The Central Bank of Nigeria has mandated Financial Institutions to obtain the social media handle, e-mail addresses, telephone numbers, residential addresses, and more of their customers. This forms part of its new customer due diligence regulations and is in a bid to further deepen the identification process in the banking system. The apex bank disclosed […]

BUSINESS

UBA, Access Bank sign agreement with AfCFTA to eliminate trade barriers

Daily Dispatch June 22, 2023

Access Bank and United Bank for Africa (UBA) in Accra Ghana, signed an agreement with the African Continental Free Trade Agreement (AfCFTA) to eliminate trade barriers. The annual meetings of the African Export-Import Bank (Afreximbank), also featured the signing of Memorandum of Agreement (MOUs) between Pan African Payment and Settlement System (PAPSS) and leading African

BUSINESS

Multiple Taxation: FIRS partners with Market Traders Association of Nigeria (MATAN) for VAT remittance from informal sector

Daily Dispatch June 22, 2023

The Federal Inland Revenue Service (FIRS) has partnered with the Market Traders Association of Nigeria (MATAN) to collect and remit Value Added Tax (VAT) to the FIRS from the country’s markets, especially in the informal sector. The Association according to Johannes Oluwatobi Wojuola Special Assistant to the Executive Chairman, FIRS Media and Communication in a […]