Finance Archives - OHAFIATV

Apr

12

2024

ATUS, a new Fintech Company set to crash the market with low charges.

Business, Economy, Metro, NewsATUS, Business, Economy, Finance

As the world of innovation and improvement in the area of financial technology companies continues to evolve with new ideologues and cutting-edge innovations that will further ensure perfect service delivery to all Nigerians in the financial industry, we must always prepare our minds for new entrants that will change the status quo and offer more people-friendly service options. This is where ATUS has come in to fill every vacuum in the financial technology system. To rule the Fintech Business world, ATUS has since started a loaning system that gives their customers real flexibility in terms of collateral and loan terms…

Mar

28

2024

By Amos Oge Kalu

Binance executives sue NSA, Ribadu, EFCC.

Business, Economy, Metro, NewsBusiness, Crime, DSS/EFCC, Economic, Finance, Metro

Tigran Gambaryan, a detained Binance executive, sued Nuhu Ribadu, the NSA, and the EFCC. Gambaryan sued Ribadu and EFCC for fundamental rights violations. The Binance executive requested five reliefs from Justice Inyang Ekwo in his March 18 originating motion filed by his counsel, Olujoke Aliyu of Aluko and Oyebode Law Firm. After escaping jail on March 22, Binance Africa regional manager Nadeem Anjarwalla filed a separate right enforcement petition before Justice Ekwo. Gambaryan and Anjarwalla sued ONSA and EFCC as 1st and 2nd respondents in FHC/ABJ/CS/356/24 and FHC/ABJ/CS/355/24, according to NAN. The same relief was sought. Gambaryan, an American citizen…

Feb

29

2024

By David Okoye

Senate Confirms Four Nominees to CBN Board of Directors

News, PoliticsCBN, Finance, Politics, Senate

The Senate has confirmed the appointment of four individuals, Robert Agbede, Ado Wanka, Murtala Sagagi, and Muslimat Olanike, to serve as members of the board of directors of the Central Bank of Nigeria (CBN). This decision follows the adoption of the Senate Committee on Banking, Insurance, and Other Financial Institutions' report during the Committee of the Whole session. Chairman of the committee, Abiru Adetounboi, reported that four out of the five nominees underwent the screening process, with Urum Eke being the exception as he did not appear. The nomination process adhered to the relevant sections of the Central Bank of…

Feb

27

2024

By David Okoye

CBN Sets Forex Rate for BDCs, Implements Measures to Curb Exchange Rate Distortions

NewsFinance

The Central Bank of Nigeria (CBN) has directed bureau de change (BDC) operators to buy forex at a rate of N1,301 per dollar and sell at a maximum margin of one percent profit. This decision aims to address price distortions in the retail market, which contribute to widening exchange rate premiums. According to Hassan Mahmud, a director at the Trade and Exchange Department of the CBN, the move comes as part of ongoing reforms in the foreign exchange market to achieve a market-determined exchange rate for the naira. The CBN observed persistent price distortions in the retail market, prompting the…

Jan

08

2024

By David Okoye

Court Awards N100 Million Damages to Suspended CBN Governor in Rights Violation Case

NewsCrime, Finance, Judiciary

Justice Olukayode Adeniyi of the FCT High Court has ordered the federal government and the Economic and Financial Crimes Commission (EFCC) to pay N100 million in damages to the suspended former governor of the Central Bank of Nigeria (CBN), Mr. Emefiele, for rights violations. Mr. Emefiele had taken legal action against the federal government, Attorney-General of the Federation (AGF), and EFCC, asserting violations of his fundamental rights to life, personal liberty, fair hearing, and freedom of movement. He sought the court's declaration that his prolonged detention by the EFCC since June 10, 2023, and subsequent transfer to the custody of…