African Development Bank (AfDB) and ILX Management B.V. Partnership Agreement
AfDB and ILX Management B.V. have partnered to promote sustainable investment in African countries.
The agreement aims to mobilize institutional investor capital and bridge financing gaps to achieve AfDB’s High Five priorities, including improving energy access, food security, and industrialization.
The Nigerian government has begun a registration exercise for unemployed individuals in Lagos State.
The National Directorate of Employment (NDE) will conduct the exercise for a period of ten days, from April 18 to April 28, 2023, in the 20 local government areas of Lagos State.
The aim of the exercise is to provide accurate data on the number of unemployed individuals in the country, which will help policymakers in addressing Nigeria’s unemployment challenges.
Nigerian banks are currently undergoing significant changes to improve their operations, increase profitability, and better position themselves in a highly competitive industry.
Major Nigerian banks, such as First Bank, Sterling Bank, and Zenith Bank, have recently announced significant changes in their name, organizational structure, and operations.
CBN Prohibits Cash-in and Cash-out Transactions via PoS for Agents
The Central Bank of Nigeria (CBN) has released a circular announcing the Exposure Draft of the Regulatory Framework for Agent Banking in Nigeria.
As per Section 8.3 of the guidelines, the CBN has prohibited agents from using PoS terminals for cash-in and cash-out transactions.
This action was taken to streamline activities and ensure that stakeholders take appropriate risk mitigation measures.