Day: May 20, 2024

Manufacturers wail as unsold goods pile up in warehouses

Manufacturers of fast-moving consumer goods, FMCG are in dire agony over the continued rise in unsold goods in their warehouses, a development which would lead to a further significant decline in output level in the sector.The continued rise in unsold goods is caused by two factors namely the rising cost of living and the declining […]

CBN directs banks to stop 0.5% cybersecurity charges

The Central Bank of Nigeria (CBN) has directed banks and other financial institutions to stop the implementation of 0.5 percent cybersecurity charges on electronic transactions. This was disclosed in a circular to all commercial, merchant, non-interest, payment service banks, other financial institutions, mobile money operators and payment service providers. The circular was jointly signed by Chibuzor Efobi, […]

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