Group backs Nigeria’s finance minister on Naira redesign, urges Buhari to sack Emefiele

Human Rights Writers Association of Nigeria (HURIWA), on Saturday, backed the Minister of Finance, Budget and National Planning, Zainab Ahmed, who warned of “serious consequences on the value of the naira against other foreign currencies” if the Central Bank of Nigeria continues with its plan to redesign the N200, N500, and N1,000 notes. HURIWA’s National … Continue reading Group backs Nigeria’s finance minister on Naira redesign, urges Buhari to sack Emefiele

Group protests against CBN move to change Naira notes

The Concerned Northern Forum, on Wednesday, in Kaduna State, frowned at the decision of the Central Bank Governor, to redesign the naira notes effective from December 15, 2022. CBN Governor, Godwin Emefiele, made the announcement on Wednesday. The group’s spokesman, Abdulsalam Kazeem, in a statement on Wednesday, in Kaduna, faulted the decision, adding that redesigning … Continue reading Group protests against CBN move to change Naira notes

How to earn large bonus on Diwali

People in India – especially in the northern part – generally get a bonus from their employers during the auspicious occasion of Diwali. The bonus may vary from a small to an expensive gift or from a little to large amount of cash given in hand or transferred to a bank account. While any type … Continue reading How to earn large bonus on Diwali

PM Modi praises Indian banking sector for supporting good governance, improved service delivery

Emphasizing India's strides towards financial inclusion and digital economy, Prime Minister Narendra Modi on Sunday said the banking sector has become a vehicle for good governance and better service delivery in the country. With an aim to promote financial inclusion, Prime Minister Narendra Modi on Sunday dedicated 75 Digital Banking Units (DBUs) to the nation. … Continue reading PM Modi praises Indian banking sector for supporting good governance, improved service delivery

Why Bank of England is buying government bonds

Photo by maitree rimthong on Pexels.com The Bank of England has launched an emergency UK government bond-buying programme to prevent borrowing costs from spiraling out of control and stave off a “material risk to UK financial stability”. The Bank announced it was stepping in to buy government bonds - known as gilts - at an “urgent pace” … Continue reading Why Bank of England is buying government bonds

Renminbi vs USD: China suffers worst hit since October 2020

Photo by Michael Steinberg on Pexels.com China's Yuan hit the lowest mark against the US dollar in the last 18 months on Tuesday, falling to 6.7134 against the USD, the lowest figure since October 30, 2020. The People's Bank of China has been lowering the value of the country's national currency since late April amid … Continue reading Renminbi vs USD: China suffers worst hit since October 2020

Nigerian govt shuts down illegal online banks, freezes business accounts

The Federal Competition Consumer Protection Commission (FCCPC) in conjunction with the Independent Corruptb Practices Commision(ICPC) and the National Information Technology Development Agency(NITAD) have raided some loan application platforms over consumer rights abuse. Some of the raided companies included; GoCash, Okash, EasyCredit, Kashkash, Speedy Choice and Easy Moni. Leading the raid on some loan application firms … Continue reading Nigerian govt shuts down illegal online banks, freezes business accounts

Russia’s government and central bank approve cryptos as currency

Russia’s government and its central bank have reached an agreement on how to regulate cryptocurrencies, according to a statement released by the government. Photo by David McBee on Pexels.com The agreement comes after the Bank of Russia last month proposed banning Bitcoin miners and other crypto operations because of concerns it may cause financial instability, citizens well-being, … Continue reading Russia’s government and central bank approve cryptos as currency

Ukraine Crisis: Bitcoin donations pour in to support military amid tensions with Russia

Bitcoin donations have soared to Ukrainian volunteer and hacking groups, some of which have supplied equipment to government forces, according to a report showing such groups received more than $550,000 (€480,000) worth of cryptocurrency in 2021. Photo by David McBee on Pexels.com The report, published on Tuesday by blockchain researcher Elliptic, suggests digital currencies are … Continue reading Ukraine Crisis: Bitcoin donations pour in to support military amid tensions with Russia

How the new global taxation rate will affect tax havens

Finance ministers from wealthy G7 nations on Saturday endorsed a global minimum corporate tax of at least 15 percent, rallying behind a U.S.-backed plan targeting tech giants and other multinationals accused of not paying enough. The G7 deal for a minimum global corporate tax of at least 15 percent is a "historic step" in the … Continue reading How the new global taxation rate will affect tax havens

COURT

Iran and Iraq reach agreement on how to release trapped funds

Iran has secured a trade agreement with Iraq that will enable it to access funds trapped in Baghdad because of US sanctions, the state-run Islamic Republic News Agency (IRNA) reported. Abdolnaser Hemmati, head of the Central Bank of Iran, visited Baghdad on Monday to finalize the deal, which allows Iran to use accumulated payments from … Continue reading Iran and Iraq reach agreement on how to release trapped funds

The UK govt spent a whopping €5b on Brexit

The UK's National Audit Office (NAO) has released a report showing that government departments spent at least £4.4 billion (€5.08 billion) preparing for the United Kingdom's exit. In the 32-page report, published on Friday (March 6), the office said it had asked all 18 central government departments and two non-ministerial departments to provide information on the cost … Continue reading The UK govt spent a whopping €5b on Brexit