Author: Akintayo Adams

After banks followed the Central Banks of Nigeria’s new guidelines, foreign exchange inflows into the Nigerian Autonomous Foreign Exchange Market (NAFEM) increased last week by 66.7% to $2.2 billion. The plentiful supply was insufficiently buoyant, though, as the naira’s value fell by 2.3%. In an attempt to increase liquidity and reduce volatility in the foreign exchange market, the CBN released a number of circulars and guidelines that included new macroprudential limits for net open positions as well as the removal of restrictions on the exchange rate quotes provided by International Money Transfer Operators (IMTOs). The amount of money coming into…

Bassey Edet Otu, the governor of Cross River State, has voiced concerns regarding internet scammers’ hacking of his phone line. He claimed that the con artists were texting unsuspecting members of the public to ask for cash assistance using his phone line. In a statement he released in Calabar yesterday, Mr. Emmanuel Ogbeche, the principal press secretary for Otu, raised the alarm. Speaking, Ogbeche said, “The public is advised to disregard any such messages purportedly from the governor. One of the governor’s mobile numbers was breached by hi-tech criminals in the early hours of Sunday, February 11, 2024. “The hackers…

After defeating the Super Eagles 2-1 in the Africa Cup of Nations championship match on Sunday night at the Alassane Ouattara Stadium, hosts Cote d’Ivoire emerged victorious. This event was the 34th competition on the continent. The Elephants are vying for their third AFCON crown, having previously triumphed in 1992 and 2015, while the Super Eagles are vying for their fourth. After finishing first in Group A with a combined seven points and a three goal differential, Equatorial Guinea emerged victorious among the two teams. The Elephants, on the other hand, finished in third place, fourth overall. 18 months after…

Herbert Wigwe, the company’s late CEO, will be replaced by an acting group chief executive officer, according to Access Holdings Plc’s board. The corporation acknowledged Wigwe’s death, along with the death of his wife and son in a helicopter crash in the United States on Friday, in a statement signed by Sunday Ekwochi, the Group corporation Secretary. The statement said that the new head’s hiring followed business protocol. The statement partly reads, “In line with the company’s policy, the board will soon announce the appointment of an Acting Group Chief Executive Officer even as we remain confident that the Access…

The D’Tigress of Nigeria have qualified for the Olympic women’s basketball competition in Paris in 2024. D’Tigress picked one of the tickets to the games even though they lost 100–46 to the USA in their second match at the Olympic qualification event in Antwerp, Belgium. Senegal’s 97-66 loss to Belgium eliminated them from contention, securing their qualification. While the US had already qualified as World Champions, Nigeria and Belgium have now qualified for the Olympics. D’Tigress defeated Senegal in their opening match in the qualifying tournament, greatly enhancing their chances of qualifying.

Man City and Real Madrid will be the main players in the UEFA Champions League knockout stages, which begin on Tuesday. These groups are thought to be the top contenders for the championship this year; they are the most recent winners of Europe’s top football league.The Manchester City team is performing at its best right now, even though manager Pep Guardiola has downplayed the team’s prospects of repeating last year’s treble win—winning the FA Cup, the English Premier League, and their first Champions League victory. Manchester City, riding a wave of ten straight victories in all competitions, will take on…

President Bola Tinubu has expressed his condolences for the passing of Herbert Wigwe, the Group Chief Executive Officer of Access Holdings. The President expressed shock and deep grief at learning of the passing of Mr. Abimbola Ogunbanjo, a former Group Chairman of the Nigerian Exchange Group Plc, and Mr. Herbert Wigwe, a prominent banker and entrepreneur, in a statement released on Sunday by his media assistant, Ajuri Ngelale “President Tinubu describes their passing as “an overwhelming tragedy that is shocking beyond comprehension,” the statement partly reads. “The President condoles with the Wigwe and Ogunbanjo families, the business community, and all…

Herbert Wigwe, the late CEO of Access Holdings, had a final conversation with Osita Chidoka, a former minister of aviation. On Sunday, Chidoka posted a remembrance to the late Wigwe on his official X account. The former minister claimed that he asked Wigwe to accompany him on this specific trip to the USA, but Wigwe mockingly declined his request. Remember that on Friday, a helicopter crash claimed the lives of Wigwe, the co-founder of Wigwe University and Access Bank, as well as his wife Chizoba, son and Abimbola Ogunbanjo. The helicopter crashed on Friday night close to a border community…

Prior to the formal Student Loan Scheme debut on February 21, 2024, the Nigeria Education Loan Fund said that it is completing the details of the repayment plan. It was established that the 10% direct deduction from the recipients’ salaries remains in place, but applicants have the option to pay 100% up front or in higher percentages. Waivers, however, will be given to those who are verified to be dead, terminally ill, and unable to support themselves through employment. “First and foremost, the modality for loan recovery will be done by the employers, which is what we are putting in…

The National Agency for Food and Drug Administration and Control’s decision to forbid the packaging of alcoholic beverages in sachets and small-sized bottles has been referred to as economic sabotage by the Nigeria Employers’ Consultative Association, the governing organization for employers in Nigeria. NECA characterized the prohibition as an effort to further suck manufacturing companies into an economic abyss in a statement released on Thursday. In a statement, the Director-General of NECA, Adewale-Smatt Oyerinde, stated that the prohibition on the manufacture and distribution of these goods is misguided and ill-timed in light of the present economic climate, the unemployment rate,…