Nigeria
Nigeria: FIRS Mandates Banks to Impose 0.375% Stamp Duty on Mortgage-Backed Loans
Deposit money banks (DMBs) in Nigeria have received a directive from the Federal Inland Revenue Service (FIRS) to implement a 0.375% stamp duty ...
Nigeria
Nigeria: CBN Deputy Governor Warns Against Aggressive Interest Rate Cuts
Philip Ikeazor, the Deputy Governor of the Financial System Stability Directorate at the Central Bank of Nigeria (CBN), cautioned against consecutive aggressive interest ...
Nigeria
Nigeria: NGX Group to Introduce Digital Platform for Public Offerings
The Nigerian Exchange Group (NGX) has unveiled plans to launch an online platform for public offerings while expanding its presence across Africa. This ...
Nigeria
Nigeria: Dr. Emomotimi Agama Assumes Role as SEC Director-General
Dr. Emomotimi Agama officially took office as the Director-General of the Securities and Exchange Commission (SEC) at the commission’s headquarters in Abuja on ...
Nigeria
Nigerian Banks Shut Down 2.021 Million Accounts Amid BVN, NIN Compliance
In the first quarter of 2024, commercial banks in Nigeria took decisive action by closing 2.021 million bank accounts, aiming to streamline their ...
News
Nigeria: Standard Chartered Bank Appoints Dalu Ajene as New CEO
Standard Chartered Bank, a leading international cross-border bank facilitating connections across dynamic markets worldwide, has named Dalu Ajene as its new Chief Executive ...
Nigeria
Nigeria: NDIC Boosts Deposit Insurance Coverage to N5 Million
The Nigeria Deposit Insurance Corporation (NDIC) has taken a significant step towards bolstering depositor protection by increasing the Maximum Deposit Insurance coverage of ...
News
Nigeria: EFCC Granted Authority to Freeze 1,146 Individuals, Companies’ Accounts in FX Probe
In a decisive move to combat irregularities in foreign exchange (FX) transactions, the Economic and Financial Crimes Commission (EFCC) has achieved a significant ...
Regulatory
Uganda Implements ID Verification for High-Value Digital Transactions Amid Rise in Mobile Money Fraud
Amid a surge in digital payments fraud and scams, the Bank of Uganda has issued a directive mandating compulsory ID verification for all ...
News
Nigerian Government Unveils $10 Billion Diaspora Investment Fund
The Nigerian government has revealed its intention to establish a $10 billion diaspora fund aimed at attracting investment from citizens residing abroad. Doris ...