• CBN tells banks to expedite action on raising capital base to guide against risk

    The Central Bank of Nigeria (CBN) has directed Deposit Money Banks (DMBs) in the country to expedite action to increase their capital base from the current N25bn. This, the apex bank said, will help the banks guard against risk. CBN Governor Olayemi Cardoso stated this during the apex bank’s 294th meeting of the Monetary Policy The post CBN tells banks to expedite action on raising capital base to guide against risk appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.

  • Amid escape of Binance executive, Cardoso says it’s SEC’s responsibility to regulate crypto transactions

    Amid the escape of Binance Holding Limited Africa Regional Manager, Nadeem Anjarwalla from the custody of the National Security Adviser (NSA), the Central Bank of Nigeria (CBN) has disclosed that it is the role of the Securities and Exchange Commission (SEC) to regulate cryptocurrency transactions in the country, and not the responsibility of the apex The post Amid escape of Binance executive, Cardoso says it’s SEC’s responsibility to regulate crypto transactions appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.

  • Again, CBN hikes interest rate to 24.75%

    The Central Bank of Nigeria (CBN), on Tuesday after the two-day Monetary Policy Committee (MPC) meeting, again, raised its benchmark interest rate again by 200 basis points to 24.75 Percent. This is according to a Tuesday communique by the CBN governor Yemi Cardoso after the second MPC meeting of his tenure in Abuja. READ ALSO:CBN The post Again, CBN hikes interest rate to 24.75% appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.

  • Africa attracts $5.4bn venture capital in 12 months

    Africa attracted $5.4 billion venture capital and debt in 2023, the recently released Venture Capital in Africa Report by AVCA – the African Private Capital Association has disclosed. The industry-leading annual report on venture capital performance in Africa is a comprehensive overview of Africa’s innovative ecosystem, providing critical insights into the sub-regions, countries, and sectors The post Africa attracts $5.4bn venture capital in 12 months appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.

  • CBN sells FX to BDCs at N1,251/$1

    The Central Bank of Nigeria (CBN) has sold $10,000 to all eligible Bureau De Change (BDC) operators in the country at the rate of N1,251/$1. In a circular issued by its Director of Trade and Exchange Department, Hassan Mahmud, and sent to the President of the Association of Bureau De Change Operators of Nigeria, Aminu The post CBN sells FX to BDCs at N1,251/$1 appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.

  • NCC files copyright violation charges against MTN, 4 others

    The Nigerian Copyright Commission (NCC) has filed criminal charges against MTN Nigeria Communications Limited and four others over alleged copyright infringement. The Chief Executive Officer of MTN Nigeria, Karl Toriola, Nkeakam Abhulimen, Fun Mobile Limited, and Yahaya Maibe were also listed in the charge with Number FHC/ABJ/CR/111/2024 filed in the Federal High Court, Abuja. The The post NCC files copyright violation charges against MTN, 4 others appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.

  • NGX: Investors lose N288.9bn as Jaiz Bank, Dangote Sugar, others tumble

    Investors in the Nigerian stock market lost N288.9 billion at the close of trading on Monday. This followed the crash of the market capitalization to N58.8 trillion from N59.1 trillion posted by the bourse on Friday. Similarly, the All-Share Index (ASI) decreased to 104,136.35 from 104,647.37 recorded three days ago. The market breadth was negative The post NGX: Investors lose N288.9bn as Jaiz Bank, Dangote Sugar, others tumble appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.

  • JULI, NEM, INTENEGINS, JAIZBANK top list of stocks to watch this week

    JULI, NEM, INTENEGINS, JAIZBANK and others top the list of stocks to watch in the new week as investors go again in the Nigerian equities market. Last week was a mixed kettle with the market gaining on two days while recording losses in the remaining three days. The market performance for the week decreased by The post JULI, NEM, INTENEGINS, JAIZBANK top list of stocks to watch this week appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.

  • Prices of staple food went up by over 10% across Nigeria in February, says NBS

    Major staple food prices across Nigeria increased by double figures month-on-month, the latest food price watch by the National Bureau of Statistics (NBS) has shown. This is according to the NBS Food Price Watch for February 2024 released by the NBS recently. According to the report, the average Food such as Garri, Rice, Beans, Beef, The post Prices of staple food went up by over 10% across Nigeria in February, says NBS appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.

  • BUSINESS ROUNDUP: Court orders Binance to submit data to EFCC; Nigeria’s 2023 imports rise to N35.9tn; Other stories

    Hello, and welcome to Business Roundup this week. Here, we bring you highlights of events that happened during the week —from the capital market to the mainstream business activities, while not forgetting the tech/economy build up. Here are the Headlines • Nigeria’s 2023 imports rise to N35.9tn • Adaora Umeoji appointed Zenith Bank’s first female The post BUSINESS ROUNDUP: Court orders Binance to submit data to EFCC; Nigeria’s 2023 imports rise to N35.9tn; Other stories appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.