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The Central Bank of Nigeria (CBN) has announced a further decrease in the exchange rate used to calculate import duties at seaports. This reduction comes after a period of relative stability in the exchange rate between the Naira and US Dollar. As of Monday, March 4, the new rate for calculating customs duties is N1,544.081 per US Dollar. This represents ... Read More »

Transnational Corporation Plc (Transcorp Group) wishes to announce the listing of its subsidiary, Transcorp Power Plc (Transcorp Power or TP Plc) via listing by introduction on the Main Board of the Nigerian Exchange (NGX), on Monday, March 4, 2024.There will be a “Facts Behind the Listing” at the NGX Group House at 2:45pm, where the Management of TP Plc, led ... Read More »

Caption 1: The Founder, Tony Elumelu Foundation and Group Chairman, UBA, Mr. Tony O. Elumelu: Faculty member and Professor of Business Administration, Harvard Business School(HBS), Professor Paul Gompers, flanked by students of the HBS during the introduction of Tony Elumelu Foundation Case Study as part of Harvard’s Curriculum in Boston, Massachusetts on Thursday. Two men in suits standing in front ... Read More »

In a strategic move aimed at furthering its mission to empower African traders with the necessary payment solutions for thriving in the digital era, Squad, a fintech subsidiary of Guaranty Trust Holding Company Plc (GTCO), offering comprehensive payment and e-commerce solutions for businesses, has entered a partnership with OmniPay, a subsidiary of OmniRetail Inc. This collaboration has currently benefited more ... Read More »

Africa’s Global Bank, United Bank for Africa (UBA) Plc has reaffirmed its unwavering commitment to spearhead economic growth across the continent through targeted policies aimed at maximizing the benefits derived from the mining and oil sectors. To this end, the bank is poised to collaborate with the Economic Community of West Africa States (ECOWAS) towards implementing strategic initiatives that will ... Read More »

The Federal Government has moved against online platforms of Binance and other cryptocurrency firms over alleged manipulation of the forex market. Binance is a digital assets platform which serves as a window for peer to peer transaction allowing users to advertise interest to sell or buy currencies of their choice. On February 5, 2021, the Central Bank of Nigeria (CBN) ... Read More »

The Central Bank of Nigeria has called on Nigerians to be patient as the management of the apex bank is doing everything possible to ensure that Naira is strengthened. He said this at the 2024 public lecture entitled, “Recent Developments in the Nigerian Foreign Exchange Market: Issues, Options and Way Forward”, organized by the Nigerian Economic Society, NES, at the ... Read More »

FirstBank has launched the second season of its Cash Out promo designed to reward users of FirstMobile, its industry-leading mobile banking solution. The FirstBank Cash Out Promo 2.0 which began on Monday, 15 January 2024, ends on Friday, 15 March 2024, and is open to new and existing customers. Leading up to the grand finale – with 1 million naira ... Read More »

Our bank, United Bank for Africa (UBA) Plc, has been announced as the official sponsor of the 4th edition of the ECOWAS Mining and Petroleum Forum (ECOMOF 2024) scheduled to take place at the Palais des Congrès in Cotonou, Benin from February 22 to February 24, 2024. Our Chairman, Tony Elumelu, would also be giving the keynote address during the ... Read More »

Operators of small and medium enterprises (SMEs) in the country have been advised to leverage on eCommerce to boost sales and grow their business. This view was canvassed by Chief Commercial Officer, Jumia Nigeria, Ijeoma Arum, in her presentation titled: Growing your business, presented at the maiden edition of Ecobank Nigeria’s MySME Growth Series. The MySME Growth Series is an ... Read More »