FirstBank Launches Lit App, a Revolutionary Mobile Banking Application, Reinforces Its Commitment to Put Customers First

In furtherance of its commitment to spearhead value-driven mobile and digital banking in Nigeria, First Bank of Nigeria Limited has announced the launch of the LIT Application, created to revolutionise the culture and experience of mobile banking in Nigeria.  The state-of-the-art banking app is the first of its kind in the industry, exposing customers to a wealth of opportunities to promote …

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NNPC Reveals Why Nigeria’s Petrol is Smuggled to Neighbouring Countries

The Nigerian National Petroleum Corporation (NNPC) has said that petrol smuggling to neighbouring nations is being aided by differential prices in Nigeria and other countries. This was disclosed by the Group Managing Director, Nigerian National Petroleum Corporation, Mele Kyari in a statement signed by the Group General Manager, Group Public Affairs Division, Garba-Deen Muhammad. According to the statement, Kyari said …

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Bureau De Change Operators Groan Under CBN’s Forex Policy

One month after the Central Bank of Nigeria (CBN) announced discontinuation of foreign exchange allocation to Bureau De Change firms, operators and traders in the parallel market have bemoaned the implications of the policy on their businesses and livelihood. Our correspondents who visited some of the parallel markets in Abuja, Kano and Lagos report a bleak atmosphere as traders loiter …

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FirstBank’s Sponsored ‘First Class Material’ Continues To Empower and Celebrate the Nigerian Youth

First Bank of Nigeria Limited, Nigeria’s premier and leading financial services provider has again reinforced its commitment to Youth Empowerment and Entrepreneurship through its sponsorship of the docuseries ‘’First Class Material’’ from the stables of Linda Ikeji TV  Arguably Nigeria’s most valuable bank brand, FirstBank continues to pride itself as indeed the Bank of many firsts. First Class Material is …

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CBN bans microfinance banks from forex dealings

The Central Bank of Nigeria (CBN) has warned microfinance banks from further dealing in foreign exchange transactions.  In a circular dated 19 August, 2021 by Director, Financial Policy and Regulation department of CBN, Ibrahim S. Tukur and entitled: Cessation of Non-Permissible ActivitiesBy Microfinance Banks, the apex bank warned that it would punish MFBs that refused to heed the warning.  The circular expressed …

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‘Lagos Generates 60% of Nigeria’s Tax Revenue’

The Federal Capital Territory Internal Revenue Service has said 60 per cent of the Federal Government Revenue comes from Lagos State The Executive Chairman, FCT-IRS, Mr Abdullahi Attah, according to a statement on Wednesday said this when he led a team of 27-man delegate to visit the Lagos State Ministry of Finance for a study on taxation and revenue generation. …

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EFCC Charges Banks On Money Laundering, Exchange Malpractices

The Chairman of the Economic and Financial Crimes Commission, EFCC, Abdulrasheed Bawa, has  sought greater collaboration with financial institutions in the country as a way of tackling fraudulent election financing, foreign exchange malpractices and money laundering. Speaking on Thursday, August 19, 2021 during an interactive session with managing directors of banks in Nigeria at the Conference Hall of the Lagos …

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Naira weakens further to 517 against dollar

The naira fell further against the dollar at the parallel market on Wednesday after staying steady at 515/$ in recent days. The local currency fell to 517 against the US currency at the parallel market on Wednesday. At the Investors and Exporters’ window, the naira weakened by 0.06 per cent to close at 411.75/$ on Wednesday, according to FMDQ Group. …

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FirstBank’s FirstMobile: Banking At Your Fingertips

As the world is evolving digitally, Nigerian banks are currently looking for ways to make the banking experience better and FirstBank is not an exception to this aggressive drive. The efforts in this regard include building and constantly improving on its product offerings like the FirstMobile, its industry-leading mobile banking app; FirstOnline, the internet banking portal and many other platforms …

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Unity Bank Corpreneurship Challenge Produces 30 More Winners in 6th Edition

A total of thirty members of the National Youth Service Corps, NYSC, have won cash prizes and business grants totaling N10 million in the 6th edition of the expanded Unity Bank flagship business plan competition known as Corpreneurship Challenge. Unity Bank is currently in 10 states of the federation where three winners each emerged from the Batch B Orientation course …

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