BUSINESS

Nigerians call out banks over non-compliance to CBN guidelines

Daily Dispatch January 2, 2020

Some bank customers have frowned at their banks for not complying with the new guidelines for charges on Automated Teller Machine (ATM), released by the Central Bank of Nigeria (CBN). Some of the customers who spoke to the News Agency of Nigeria (NAN), in Abuja, regretted that banks had now

BUSINESS

Nigeria’s Manufacturing Sector Expands By 60.8 Points In December – CBN

Daily Dispatch December 30, 2019

The Central Bank of Nigeria (CBN) has said that the Purchasing Managers Index of Nigeria’s manufacturing sector stood at 60.8 index points in December, indicating a 33-month consecutive expansion. The PMI Survey report released on Monday by the apex bank stated that the index grew at a faster rate when compared to the index in […]

BUSINESS

Tony Elumelu Foundation Announces Final 2,100 African Entrepreneurs for the Inaugural TEF-UNDP Entrepreneurship Programme

Daily Dispatch December 30, 2019

The Tony Elumelu Foundation (TEF)—the private-sector-led philanthropy focused on empowering African entrepreneurs—has announced a final list of 2,100 entrepreneurs to benefit from the inaugural TEF-UNDP Entrepreneurship Programme. The Programme targets small business owners in rural communities across the 7 Sahel countries of Africa – Nigeria, Niger, Chad, Mauritania,

BUSINESS

N50 surcharge on POS transaction illegal: CBN

Daily Dispatch December 23, 2019

The Central Bank of Nigeria (CBN) said the N50 being charged Nigerians who use Point of Sale (POS) machines for transactions, is a misinterpretation of its directive by rogue merchants. CBN Director of Payment System Management, Musa Jimoh said today that no one should pay extra on goods and services. He was speaking on Channels […]

BUSINESS

IMF lauds introduction of ‘Eco’ common currency by Francophone West African countries

Daily Dispatch December 22, 2019

The International Monetary Fund (IMF) has lauded the West African Economic and Monetary Union (WAEMU) for changing the common currency of French-speaking West African countries to Eco from the CFA francs. Eight West African countries on Saturday (Benin, Burkina Faso, Guinea-Bissau, Ivory Coast, Mali, Niger, Senegal, and Togo) agreed to change the name of the […]

BUSINESS TOP STORIES

Breaking: CBN cuts ATM fee to N35 in new Guide to Bank Charges

Daily Dispatch December 22, 2019

The Central Bank of Nigeria (CBN)  on Sunday released revised Guide to Bank Charges mandating banks to charge customers N35 for cash withdrawals from other banks’ Automated Teller Machines (ATMs). The charge, which was reduced from previous N65 fee, applies after the third withdrawal within one month. The new guideline signed by Chibuzo Efobi for […]