CAPITAL MARKET
NIPOST Alleges Shady Deals in Capital Market, Raids Courier Firm over N15m Illegal Contract
The Courier and Logistics Regulatory Department (CLRD) of the Nigerian Postal Service (NIPOST), has announced that it has uncovered some of the shady deals going on at the Nigerian capital market, involving some company registrars. The recent exposure was about a shady deal involving a Registrar to an old generation bank, who allegedly contracted a business worth N15 million to a courier company, Big Courier Limited, alleged to be an illegal operator. It was learnt that the operating license of the courier company had been revoked by CLRD since 2018. This Day
BANKING
Access Bank Harps on Financial Inclusion
In line with its mission to deliver superior value to its customers and provide innovative solutions for the markets and communities it serves, Access bank Plc, has successfully commissioned and empowered 74,000 Access Closa agents to provide financial services to customers across Nigeria, the bank has said. The bank in a statement stated that these Access Closa Agents are spread across the 774 Local Government Areas in the country, the bank has significantly grown access to finance and banking services to Millions of previously underbanked Nigerians, provided alternate streams of income for MSMEs, promoted financially literacy and also advanced its ambition to bank one in every two Nigerians by 2025. This Day
ECONOMY
Naira exchanges for 509/$1 at parallel market
The naira held steady against the dollar at the parallel market on Monday at N509. The naira held steady against the greenback at the parallel market from the 509/$1 at which it closed on Friday. On the Investors and Exporters’ window, it opened at 411.39/$1. It had a high of 412.90/$1 and a low of 400/$1. The naira closed at 411.50 against the dollar on Monday. Dollar supply continues to increase, forex turnover for the day was $166.06m, according to the FMDQ Group. The naira fell to 525 against the dollar at the parallel market after the Central Bank of Nigeria stopped the supply of foreign exchange to Bureau de Change. Since then, however, it had continued to appreciate. Punch
Moderna vaccination starts Monday, FG condemns reports
The Federal Government has announced August 16 as the new date for the beginning of the second phase of COVID-19 vaccination in the country. The phase will see the country administering the Moderna vaccine doses donated by the United States. The Minister of Information and Culture, Alhaji Lai Mohammed, disclosed the new date on Monday while featuring on ‘Good Morning Nigeria,’ a live programme of the Nigerian Television Authority which was monitored by our correspondent. Punch
CBN: Digital Currency Would Be Critical National Infrastructure
The Central Bank of Nigeria (CBN) has said its proposed digital currency, known as e-Naira, will be treated as a critical national infrastructure to protect it from operational and cyber-security risks. In a document obtained by THISDAY, which offered more insights into the digital money regime, especially the potential risks and mitigation measures, the apex bank said there would be a co-existence of traditional payment systems and the CBN Digital Currency (CBDC) to address interoperability risks that might be associated with the implementation. This Day
Shakeup in NNPC, senior management staff redeployed, COO sacked
The Nigerian National Petroleum Corporation on Monday announced the promotion and redeployment of some staff to fill vacant positions, as well as the disengagement of a chief operating officer. Group General Manager, Group Public Affairs Division, Kennie Obateru, announced in a statement issued in Abuja that Billy Okoye had been appointed the new Group Executive Director, Ventures and Business Development, while Aisha Ahmadu-Katagum was promoted to the position of Group Executive Director, Corporate Services. Punch