Category: Business

CAC set to formalize more small businesses at discounted rates

Emporium Reporters

By ABUBAKAR YUSUF, Abuja         The Corporate Affairs Commission has pledged to support the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) Business Women Working Group (NAWORG) in its quest to provide customized advocacy training for women entrepreneurs to motivate them to register their businesses.   In a release by the Head, Media of the corporation Rasheed Mahe,CAC Registrar General said the initiative will also provide access to credible women and youth owned informal businesses operating in various areas.   The Registrar General of…

Fidelity Bank to acquire Union Bank UK

Emporium Reporters

Fidelity Bank Plc says it has entered a binding agreement to acquire a 100 percent equity stake in Union Bank UK Plc.   The bank said this in a corporate filing on the Nigerian Exchange Limited (NGX) signed by Ezinwa Unuigboje, the company secretary.   Fidelity Bank said the Central Bank of Nigeria (CBN) had issued “No Objection” letter for the deal.   It also added that the transaction is still subject to the approval of the Prudential Regulatory Authority (PRA) of the United Kingdom.   While speaking on the…

BREAKING: CBN releases $265m foreign airlines’ trapped funds

Emporium Reporters

In a fast move to avert a total shutdown of Nigeria’s aviation sector, the Central Bank of Nigeria (CBN) on Friday, released the sum of $265 million to airlines operating in the country, to settle outstanding ticket sales.   A breakdown of the figure indicates that the sum of $230 million was released as special FX intervention while another sum of $35 million was released through Retail SMIS Secondary Market Intervention Sales) auction.   Confirming the release, the Director, Corporate Communications Department at the CBN, Mr. Osita Nwanisobi, said that…

JUST IN: e-Naira becomes USSD enabled

Emporium Reporters

The Central Bank of Nigeria (CBN), has announced that starting from next week, Nigerians will be able to open an eNaira wallet and conduct transactions by simply using a designated USSD code on their mobile phones.   Godwin Emefiele, the governor of the apex bank, stated this at the Grand Finale of the 2022 eNaira Hackathon in Abuja.   According to Emefiele, “Nigerians, both banked and unbanked, will be able to open an eNaira wallet and conduct transactions by simply dialling *997 from their phones.   Meanwhile, to carry out…

Media Trust commends CAC on major reforms

Emporium Reporters

By YUSUF ABUBAKAR, Abuja         Media Trust Group has expressed optimism that the vision of the Corporate Affairs Commision (CAC) to become a world class companies registry will soon be realized considering the pace of transformation it is recently witnessing.   The Group Chief Executive Officer, Media Trust Limited, Mounir Haliru Gwarzo stated this today in Abuja during a courtesy call on the Registrar General/CEO of the CAC, Alhaji Garba Abubakar. Mounir Gwarzo noted with pleasure that the CAC was the only Government Agency operating a fully…

Kogi Govt, Chinese govt mull partnership in Nuclear Energy and other ventures. …as Gov. Bello receives Chinese Ambassador to Nigeria

Emporium Reporters

China’s Ambassador to Nigeria, Mr Qui Jian Chun has expressed that his country was passionate about exploring viable areas of partnership, keenly amongst which was interest in Nuclear Energy in Nigeria and more specifically Kogi state. Mr Chun noted that his key interest as the Ambassador was to facilitate china’s investment and also utilize China’s technology for the benefit of Nigeria and certain states like Kogi, opining that Nuclear Energy would further attract investment to the state, improve its infrastructure, tax revenue, job creation and attract vast social economic developments.…

CAC Registrar-General mulls Multi-Sectoral Partnerships with Tax Authorities.

Emporium Reporters

The Registrar General/CEO, Corporate Affairs Commission (CAC), Alhaji Garba Abubakar has expressed optimism that effective collaboration with tax authorities particularly the joint tax board JTB has huge potential to boost Government revenue as well as reduce corruption in the society . Alhaji Garba Abubakar stated this in a statement released by the Head Media of the commission, Rasheed Mahe at a Multi- Stakeholder Consultation on Nigeria’s Beneficial Ownership Register held in Abuja. The Registrar General recalled that the beneficial ownership idea was conceived fifteen years ago after the 911 attack…

5 Apps Fraudsters Use To Send You Fake Banks Alert How To Detect Them

Emporium Reporters

Losing money, especially to fraud, hurts. It hits differently when they lose their money through fake bank alerts. That means someone played on their intelligence and stole from them. That hurts. Here are a few pointers to note to avoid being a victim of fake bank alerts. The advent of a cashless policy is a good one. Cash-less Nigeria, according to Wikipedia, is a policy established in the year 2012 by the Central Bank of Nigeria to curb excesses in the handling of cash in the Nigerian federation. It prescribed…

Niger Govt,Turkey to kick-start bilateral relationship, ….. As Gov Sani Bello meets Turkey Businessmen

Emporium Reporters

Niger State government has said that the state will soon benefit from one of Governor Abubakar Sani Bello’s investment drives as the Governor held a business meeting with Turkey Businessmen to kick-start a bilateral relationship. The meeting held in Abuja, came after the Mayor of Sakarya Province, Turkey, Mr Ekrem Yuce led the Turkish Investors’ trip to the Garam Industrial Park, Tafa Local Government Area of Niger State. The bilateral relationship between Niger State government and the Turkish businessmen is majorly in the area of agro-allied businesses. Recall that Governor…