More than 80 families were bilked out of $10 million in investments through a Ponzi scheme orchestrated by Richard Freer, a former bank president, according to Northampton County authorities.

The Central Bank of Nigeria has banned the importation of foreign currencies into the country.

The Central Bank of Nigeria (CBN) has banned the importation of all foreign currencies except with approval.

It used to be the norm in the banking industry until 2007, when the Central Bank of Nigeria and Nigeria Deposit Insurance Corporation (NDIC) used the Purchase and Assumption model for the resolution of problem in banks that lost their operating licence due to inability to meet the N25 billion new minimum capital base. Before then, whenever the CBN revoked the licence of a bank, depositors suffer.

RealSens is an automated remote meter reading (AMR) system, or more precisely, because of it’s fully two-way, remote meter reading capability, an advanced metering infrastructure (AMI) system.

Some are doing their duties and some are not doing well because most of them are not really knowledgeable in the interpretation of companies’ reports and acounts. For example, most of them just go to AGMs to collect their gift items. They are not stopping you to scrutinise the management to find out how they can make improvement, and that is the aim of AGMs.

AIMS Mgt should return my money I was approached by a staff of AIMS ASSET MANAGEMENT LTD in 2008 in which the capital and gains ought to mature in five years. Up till now l am yet to hear from them and all effort to reach them for my money proved abortive. I invested N200, […]

Four Nigerian banks may lose N88 billion in revenue to the proposed phase out of Commission on Turnover, COT, charges. This may give rise to a minimum rate on savings accounts that could raise interest expense by the banks to N22 billion in 2013, a recent report by HSBC on four out of the twenty-four Nigerian banks has revealed.

Fiscal and monetary policies are the instruments government use to manage the economy. The main focus of economic policy is the over all well being of the citizenry. Economic policy worldwide is meant to gear the economy towards full employment of resources, stable prices, balanced growth, and a favourable external reserve as a back up to exchange rate stability. These overall objectives can be conflicting and it requires men and women with deep knowledge of the workings of the economy to manage the unintended outcome of policy. In Nigeria today, it will appear that monetary policy is concerned mainly with price and exchange rate stability with little concern for balanced growth and the attainment of full employment

The project is geared towards creating a commercial hub for the entire eastern and south-south regions of the country. It is designed to stimulate the urban renewal of Aba city, by providing a structured facility where trading and other commercial activities can be done in an orderly manner. Presently in Aba, every nook and cranny including the roads, drainages and streets, are trading posts. This project is an attempt to sanitise the city by giving the people of Aba a dignified trading centre, which from a survey conducted by us, the traders and dwellers in the city are eager to have it operational.

As the President of the Nigerian council of Registered Insurance Brokers, NCRIB, Mrs. Laide Osijo, gets set to bow out from office, she has said that her tenure as the president of the Council was successful.

Withholding Tax is an advance payment of income tax. In principle, WHT is a payment on account of the ultimate income tax liability of the taxpayer or company. Withholding tax is not a separate tax on its own and does not confer an exemption from the filing of annual tax returns by the company which had suffered WHT. The tax is normally to be deducted at source when a payment is to be made to the beneficiary.

There is no country that can attain meaningful development without quality statistics to address its socio-economic challenges.

This is coming from the World Bank Country Director, Ms Marie-Francoise Marie-Nelly, at the opening of a two-day National Statistical User Satisfaction End-line workshop organised by the National Bureau of Statistics (NBS) in Abuja.

The objective of the certification programme is to continue to build a sustainable skilled labour force for the microfinance sub-sector through the certification of operators and non-executive directors of microfinance banks in Nigeria.

The Nigerian consumer market is growing on all fronts and this is a pointer that it cannot continue to be business as usual. Brand handlers who understand this are thinking outside the box to create strategies for a deepened consumer affinity that will guarantee market share, profitability and brand loyalty.