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CBEX Resumes Operations Despite SEC Ban

Crypto Bridge Exchange trading platform, CBEX
Despite the purported N1.2 trillion digital trading scam that allegedly impacted over 600,000 Nigerians, the troubled Crypto Bridge Exchange trading platform, CBEX, has reopened and announced new withdrawal alternatives in an effort to regain investor confidence. Despite continuing regulatory agency investigations, Punch reports that two traders on the CBEX platform have confirmed that the digital trading company has discreetly resumed operations, enabling new customers to register, trade, and withdraw winnings. The sources claim that in order to determine the amount lost in the scheme, which failed in April, an external audit of the company’s financial records and an insurance verificationRead More

Okon: Arik Air Healthy before AMCON’s Takeover

Senator Anietie Okon
ormer owners of Nigeria’s major carrier, Arik Air, have taken issue with Asset Management Corporation of Nigeria (AMCON) over the circumstances that led to the takeover of the airline onRead More

Report: Fintechs Raised $120.557 Million in 60 Deals in 2020

Financial technology (fintech)
Financial technology (fintech) startups in Nigeria raised a total of $120,557,026 in 60 deals in 2020, the Nigerian Startup Funding Report 2020 published by Techpoint Africa has revealed. According toRead More

Customers Groan As MTN Nigeria, Banks Bicker Over Commission

MTN Nigeria
On Friday, customers of MTN Nigeria awoke to the unpleasant reality that they could not purchase the telco’s airtime through the online platforms of commercial banks. This caused a generalRead More

Stock Market Loses N634bn In First Quarter

Nigerian Stock Exchange (NSE)
The Nigerian stock market shed N634 billion or three per cent in the first quarter (Q1) of 2021 as policy reversal, continued absence of foreign investors influenced the performance ofRead More

Access Bank Grows Profit To N126bn, Recommends 55k Final Dividend

Access Bank
Access Bank Plc has recorded positive results despite a challenging economic and regulatory landscape in 2020, the bank’s audited financial statement has shown. The bank recorded gross earnings of N764.7Read More

Advertisers Seek Engagement Over Proposed Fine On Foreign Advertorials

Minister of Information and Culture, Alhaji Lai Mohammed
Heads of Advertising Sectoral Groups (HASG), an umbrella body comprising advertising, media, marketing activation and out-of-home media agencies as well as broadcasting company groups, yesterday called for more consultations onRead More

FG Lauds NEXIM’s Intra-African Trade Initiatives

Nigeria Export-Import Bank (NEXIM)
The Federal Government has commended the Nigeria Export-Import Bank (NEXIM) for enhancing its intra-African trade initiatives in readiness for the commencement of the African Continental Free Trade Agreement (AFCFTA). ItRead More

Seplat Blazes Trail, Issues Historic $650m Five-year Bond

Seplat Petroleum Development Company Plc
Becomes largest-ever Nigerian oil and gas bond issuer Seplat Petroleum Development Company Plc (Seplat), a leading Nigerian independent energy company listed on both the Nigerian Stock Exchange (NSE) and theRead More

NNPC Reduces Cash-call Debts To IOCs By $3.11bn

Nigerian National Petroleum Corporation (NNPC)
FG, labour to meet mid-April on petrol pricing Tanker drivers threaten strike The Nigerian National Petroleum Corporation (NNPC) has so far paid a total of $3.118 billion cash-call debts owedRead More

Buhari Unveils N’East Rice Cultivation Programme

President Muhammadu Buhari
President Muhammadu Buhari yesterday described the revolution in rice production across the country as a product of clear-cut policy and diligent execution by institutions such as the Central Bank ofRead More