Jail terms are no longer enough to stop illicit financial flow, President Muhammadu Buhari said yesterday. According to him, stringent actions should be taken against perpetrators of illicit financial flows, including crackdown on safe havens and return of stolen assets to countries of origin. Buhari was delivering his statement on “Illicit Financial Flows (IFFs) and […]

The Central Bank of Nigeria (CBN) received a total of 1,439 and 2,451 complaints against banks and other financial institutions in the first half of the year. The data is contained in the half-year economic report for 2018 released by the regulator . The report said the complaints were received, compared with 1,141 and 1,270 […]

The Central Bank of Nigeria (CBN) yesterday unveiled operational guidelines for Payment Service Banks (PSBs). The move is in furtherance of the CBN’s mandate of promoting a sound financial system and enhancing access to financial services for low income earners and unbanked segments of the society. The PSBs are to operate mostly in the rural […]

A domiciliary account is a type of current account that allows you to fund it with foreign currencies such as dollars, pounds or euros and enables you to do foreign transactions on that account. You can use a domiciliary account to transfer money to another country or receive foreign currency from another country. According to […]

Are you looking to start your own business? Before you hand in your notice at your day job, you might consider holding down the fort while you get your company off the ground. An Academy of Management study found that ‘hybrid entrepreneurs,’ or individuals, who start their business while working another full-time job, are a […]

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