Governor Hope Uzodinma of Imo State on Tuesday forces no fewer than five banks to shut down their operations in Owerri, the state capital. The governor sealed the banks for allegedly failed…
Category: Business
Francis Atuche Loses N19.2bn As Court Freezes 24 Bank Accounts
Justice Lateefat Okunnu of an Ikeja High Court, Lagos has ordered the forfeiture and freezing of assets and funds belonging to the convicted former Managing Director of the defunct Bank PHB, Francis…
CAC Introduces New Forms Of Business Registration
The Corporate Affairs Commission (CAC) has commenced two new forms of business registration pursuant to CAMA, 2020. This followed the successful deployment of the Online Application for Limited…
Digital currency: 9 Things You Need To Know About E-Naira
The Central Bank of Nigeria (CBN) introduced e-Naira after the ban on Cryptocurrency. It is a form of digital currency that allows exchange between people online. CBN banned the use of cryptocurrency…
DBN: N400bn Disbursed To Over 150,000 SME’s In 4 Years
The Development Bank of Nigeria (DBN) has stated that it has disbursed a total sum of N400 billion to small and medium enterprises (SMEs) in the country since its…
Naira falls to N527 to dollar at parallel market
The naira on Monday weakened to new low of N527 to dollar in the parallel market. The local currency position represents N3 depreciation from N524 to dollar it closed last week. The…
Fidelity Bank Sacks 200 Employees After Tricking Them To Attend Training
One of the leading Nigerian financial institution, Fidelity Bank Plc has sacked over 200 workers via text messages, VAM News can authoritatively report. An investigation by this newspaper revealed the bank has…
Ask account owners how they got money – EFCC orders Nigerian banks
The Economic and Financial Crimes Commission (EFCC) has advised bankers to ask their customers how they got money in their accounts. The Chairman, Abdulrasheed Bawa, spoke at a meeting with the Association…
Block Accounts Of ‘Premier Lotto’ Company And 17 Others – CBN Tells Banks
The Central Bank of Nigeria (CBN) has ordered banks to place a post-no-debit on the bank accounts of 18 companies. A post-no-debit means that all debit transactions, including ATMs and cheques, on…
Businessman Charges Dangote To Court In US For Allegedly StealingTrade Secrets, Rape, Others
Nigeria’s business magnate Aliko Dangote was involved in alleged rape and psychological manipulation of the wife of a businessman Kevin Ajenifuja, with an intention to steal his trade secrets, court…