Amidst concerns by bank customers about the financial state of Heritage Bank, one of Nigeria’s Deposit Money Banks (DMBs), the bank says all is well. According to a recent statement by…
Category: Business
How First Bank staff Nwadiashi who debited over N9m from customer’s account bags jail term
Andrew Nwadiashi a 40 year-old banker and eight internet fraudsters were on Friday, August 4, 2023, convicted and sentenced to prison by Justice M. Itsueli of the Edo State High Court sitting…
Beer price rises amid economic challenges
VAM News Update Nigerian Breweries announces hike in price of beers amid economic challenges Nigerian Breweries (NB PLC) has announced a price increase on all their products effective August 10, 2023. In…
FG to support 1,300 MSMEs with N50,000 each for eight months
President Bola Tinubu says the federal government is making plans to support micro, small and medium-sized enterprises (MSMEs) in the country. Speaking in a nationwide broadcast on Monday, Tinubu said 1,300 nano…
Again, Naira slides, trades high at parallel market
VAM News Update THE Nigerian naira, on Monday, weakened to N871 per US dollar at the parallel section of the foreign exchange (FX) market. The figure represents a depreciation of N6 or…
Currency in circulation hits N2.26tn— CBN
Currency outside banks rose to N2.26tn at the end of June 2023, according to the latest figures from the Central Bank of Nigeria. According to figures obtained the CBN, the currency…
SASASNET: Why Dangote refinery engaged 11,000 workers from India
The Sub-Saharan African Skills and Apprenticeship Stakeholders Network has explained why the Dangote refinery engaged 11,000 skilled workers from India while neglecting youths from Nigeria and other African countries. The network,…
CBN: Gradual phasing out of old naira notes continues
The Central Bank of Nigeria has reaffirmed its commitment to gradually phase out the old N200, N500, and N1,000 naira notes while issuing new currencies. This announcement was made by the…
CBN speaks on old naira, new notes as means of financial transaction in Nigeria
VAM News Update THE Central Bank of Nigeria (CBN) says plans to gradually phase out the old N200, N500, and N1,000 naira notes are ongoing, as new notes are still being issued….
BREAKING: CBN vows to tackle forex pressure, raises lending rate
The acting Governor, Central Bank of Nigeria, Folashodun Shonubi, has said the bank will address the demand pressure on the country’s exchange rate, as the naira continued to slide against the dollar….