Central Bank of Nigeria

Central Bank of Nigeria Cancels Skye Bank's Licence

Leadership, 22 September 2018<p>The Central Bank of Nigeria (CBN) has revoked the licence of Skye Bank following the inability of the owners of the bank …

Central Banks

NNPC said it "will resist every attempt to subject these funds, which have been in the full view of the government, to five per cent whistle-blowing fees as this would be unreasonable and a sheer waste of public funds".

The Nigerian National Petroleum Corporation has said it would resist any attempt to pay five per cent of its funds found in commercial bank to any …

Citizen Journalism

Why CBN revoked Skye Bank's licence (Full statement)

<b>- The Central Bank of Nigeria has revoked the operating licence of Skye Bank Plc</b><b>- Consequently, Polaris Bank has taken over the assets and</b> …

Central Banks

According to Emefiele, depositors’ funds are safe.

The Central Bank of Nigeria (CBN) has withdrawn the operating licence of Skye Bank.<p>Godwin Emefiele, CBN Governor, announced the decision to withdraw …

Nigeria

Olusegun Agbaje, the Resident Electoral Commissioner (REC) in Osun State, said the materials were thoroughly checked before they were dispatched.

The Independent National Electoral Commission (INEC) has begun the distribution of sensitive materials for Saturday’s governorship election in Osun …

City Politics

MTN makes progress on $8.1B Nigeria row - Mobile World Live

MTN Group received a boost in Nigeria after the country’s central bank softened its stance over a claim the operator transferred $8.1 billion out of …

Central Banks

Central Bank of Nigeria say banks go begin pay 10k fine for alert wey no enta

Image copyright PIUS UTOMI EKPEI<p>Di Central Bank of Nigeria say any money waka wey customer do wey no go through and bank no send am back to di customer account within 24 hours, based on complaint of di customer wey send am, say di bank go pay fine of N10,000.<p>CBN also say any delay to make pesin …

Central Banks

“The raid by operatives purportedly wearing the jackets of the Commission might have been the handiwork of errant officers who acted without authorisation," EFCC said.

The Economic and Financial Crimes Commission (EFCC) has denied its culpability in the Friday raid of the headquarters of Standard Chartered Bank in …

Standard Chartered Bank

MTN determined to overcome Nigeria IPO challenges - Mobile World Live

A $10.1 billion fine by Nigerian authorities will make an upcoming MTN Nigeria IPO difficult, but the operator will press on, its group CFO …

Central Banks

Senator Durojaiye who spoke to journalists on Wednesday at the Nigeria Pavilion at the on-going ITU Telecom World 2018 in Durban, South Africa said, ‘’We do not want MTN to die or leave our country. We want them and we do not have any problem with them; but we believe they must play by all our rules and regulations,” he said.

MTN Nigeria Buildings Weather Report<p>… Standard Chartered Bank clears itself<p>The Federal Government has said it doesn’t want MTN Nigeria to die but …

Standard Chartered Bank

MTN woes cast cloud over money licence progress - Mobile World Live

Nigeria’s regulator teased that operators will soon be allowed to apply for mobile money licenses, although it remains unclear what MTN Nigeria’s …

Nigeria

Nigeria:MTN Goes to Court Over U.S.$10.1 Billion Nigeria Sanctions

MTN Nigeria says it has asked a Federal High court in Lagos to restrain the Central Bank of Nigeria (CBN) and the Attorney-General of the Federation …

Africa

More trouble for MTN - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

MTN has to deal with a 30% fall in its shares on news of another fine in Nigeria.<p>Last week, Nigerian tax authorities slapped Africa’s biggest mobile …

News (South Africa)

“This is the technology that would be used for very specific cases. It would not be a technology for everybody because most people don’t need it; your phone works fine on just 3G," he stated.

Rob Shuter, MTN’s Chief Executive Officer, has said Africa isn’t yet ready for next-generation 5G network.<p>According to Shuter, the continent could be …

Citizen Journalism

Is Africa Still the Next Playing Field for Cryptocurrency?

With a decline in Bitcoin seeing many Nigerians pull back on their losses in the cryptocurrency market, does Africa still represent the next frontier …

Cryptocurrency

Moghalu noted that the 2019 election would be a choice between freedom and slavery under the current political class, between poverty and real prosperity for Nigerians, and between stability and continuing instability of our country.

Kingsley Moghalu<p>Former Deputy Governor of the Central Bank of Nigeria, Prof. Kingsley Moghalu has emerged the presidential candidate of Young …

Africa

Moody's places South Africa's MTN on review for downgrade

JOHANNESBURG, Sept 6 (Reuters) - MTN Group has been put on review by Moody’s for downgrade after the South African mobile phone operator said it was on the hook for a total of $10.1 billion from its biggest market Nigeria, the ratings agency said on Thursday.<p>“MTN’s ratings have been placed on …

South Africa

Nigeria operators issue mobile money pledge - Mobile World Live

Nigeria’s operators promised to bring mobile money services to 90 million users within two-and-a-half years if authorities allow them to launch their …

Africa

Nigeria debits Stanbic’s account by R75m for forex-linked fine

Central Bank of Nigeria has debited Stanbic IBTC Bank’s account with the amount of the fine it imposed late last month<p>06 September 2018 - 20:29 …

Business (South Africa)

Nigeria: MTN Denies Owing Nigeria Tax Arrears

An MTN facility in Abuja.<p>Nigeria's wars with South African mobile phone giant MTN seems far from over with the latter denying owing the West African …

Africa

“The Office of the Honourable Attorney-General of the Federation and Minister of Justice hereby request that the said amount referenced hereto are to be paid into the: Account Name: FGN ASSET RECOVERY ACCOUNT, Account No: CBN 0020054161191, Currency: Naira," read the letter, personally signed by Malami

Abubakar Malami, Attorney-General of the Federation and Minister of Justice, has written to MTN Nigeria and four banks to demand payment of the …

Standard Chartered Bank

MTN in More Trouble as Nigeria Demands U.S.$2 Billion in Tax

The telecom giant MTN Group is facing another demand from the Nigerian government over the payment of U.S.$2 billion in tax arrears. The bill comes …

Africa

MTN's Nigeria woes deepen with $2B tax bill - Mobile World Live

The Nigerian government slapped a $2 billion tax bill on MTN relating to its activities over the past decade, as the company’s troubles in the …

Africa

The anti-graft agency said the cash had been deposited in the Central Bank of Nigeria (CBN), pending a pronouncement by the court.

The Economic and Financial Crimes Commission (EFCC) has said five people are laying claim to the N49million its operatives intercepted in sacks at …

Corruption

Nigeria:Can MTN Nigeria Survive Multiple Fines?

As the news broke Wednesday that MTN Nigeria has once more been penalised by another regulator in Nigeria, industry watchers have been wondering if …

Emerging Markets

Inga disclosed that the agency has spent N763 million on emergency responses, risk reduction and preparedness in the last three years and had identified 11 resettlement centres in 65 communities across the state.

No fewer than 14 persons have been killed in flood disasters that ravaged 17 of the 25 local councils of Niger State during this year’s rainy …

Media Strategy

MTN affair casts shadow over Nigeria economy: analysts

Nigeria’s decision to order South African telecoms giant MTN to repay billions of dollars that it had allegedly illegally repatriated over a period …

Nigeria

Nigeria orders S.Africa's MTN to refund $8.13 bln

LAGOS (AFP) -<p>Nigeria's central bank has ordered South African telecoms giant MTN to refund $8.13 billion (6.96 billion euros) that it allegedly illegally repatriated and fined four banks involved in the transfer.<p>The Central Bank of Nigeria (CBN) said in a statement late Wednesday that MTN had not …

Central Banks

9mobile sale finally complete - Mobile World Live

After many hiccups spanning a year, the Nigerian Communications Commission (NCC) and Central Bank of Nigeria approved the sale of operator 9mobile to …

Central Banks

MTN denies claims it owes a R117 billion refund

Telecommunications company MTN said on Thursday that its Nigeria operation had received correspondence from the central bank alleging that the …

Central Banks