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Business & Economy

Labour suspends strike action for one week

The Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC), on Tuesday, relaxed their industrial action after a 24-hour shutdown of the economy. The...

Kimberly-Clark, makers of Huggies diaper to shut down production plant three years after investing $100m

Diaper and sanitary pad manufacturer, Kimberley Clark will soon announce an imminent shutdown of its Ikorodu production facility two years after investing $100 million...

FirstBank posts N238.53bn PBT in Quarter 1, 2024

FBN Holdings Plc declared N238.53 billion profit before tax (PBT) in its unaudited first quarter (Q1) ended March 31, 2024 results. This represents about...

E-Banking System and their relation to Money Laundering and Terrorist Financing

By Kunle AjiboyeHere, e-banking refers to any financial transaction carried out for a person through a financial institution by electronic means, with a view...

A thick line between suspicious activity report and suspicious transactions report in Nigeria

By Kunle Ajiboye A Suspicious Transaction Report (STR) is a document that financial institutions must submit to the Financial Intelligence Unit (FIU) whenever there is a suspected case of money laundering, terrorist...

FirstBank board names Olusegun Alebiosu as acting CEO

Less than 48 hours after the sudden resignation of Sola Adeduntan as the managing director/ chief executive of First Bank of Nigeria Limited, the...

Sola Adeduntan, FirstBank MD/CEO resigns months before tenure expiration

FirstBank’s Managing Director / Chief Executive Officer, Mr. Sola Adeduntan has resigned his appointment with the bank, eight months well ahead of the completion...

Naira rebounds, now best performing currency in the world

May exchange below N1,000/1USD - Goldman Sachs Nigeria’s naira could extend gains that have already made it the best-performing currency in the world this...

Tinubu appoints 36-year old Nwagba to drive consumer credit finance in Nigeria

President Bola Ahmed Tinubu has approved the appointment of Uzoma Nwagba as the Managing Director/Chief Executive Officer of the Nigerian Consumer Credit Corporation (CREDICORP). According...

NERC reels out locations affected by new electricity tariff in Lagos

Following the increase in the electricity tariff for customers under the Band A classification, the Nigerian Electricity Regulatory Commission, NERC has listed the areas...

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