BANKERS yesterday warned e-fraudsters to behave or be taken off the banking system. Speaking for the Bankers’ Committee, Access Bank Managing Director Herbert Wigwe said banks were working out modalities that would enable them establish a central database to identify and punish e-fraud perpetrators. Data from the Central Bank of Nigeria (CBN)

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VICE President Yemi Osinbajo yesterday inaugurated the National Council on Micro Small and Medium Enterprises (MSMEs). The membership of the Council, under the chairmanship of the vice president and assisted by the Trade Industry and Investment Minister, Okechukwu Enelamah, has been reduced from an initial 43 to 21. Osinbajo

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THE Senate yesterday launched investigation into alleged foreign exchange allocation manipulation involving over N30 trillion. Many banks were fingered in the deal said to have been perpetrated between 2006 and 2017. The banks were queried for alleged manipulation and connivance with importers to defraud the country. The investigation

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THE Securities and Exchange Commission (SEC) and Nigerian Stock Exchange (NSE) have revoked the licences of 21 firms for various infractions, including inability to meet minimum capital requirement, fraud and inactivity. With the deregistration of the firms and revocation of their licences, the firms have been expelled from the market. Besides,

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Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, yesterday said the country will be completely out of recession in second or first half of the third quarter (Q3). Emefiele spoke after emerging from a closed session with Senate President, Abubakar Bukola Saraki, in Abuja. The CBN chief who said the Senate President invited him to give

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THE Federal Government can realise N3trillion from maritime yearly if the sector is structured, a top Federal Ministry of Finance official has said. The official, who asked not to be named, urged President Muhammadu Buhari to invest part of the money generated from the sector in the economy because of the dwindling oil revenue. The president

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A report from a Russian online cyber security firm, Kaspersky, has observed that North Korean hackers are allegedly attacking banks in 18 countries, including Nigeria. The organisation noted in its report that this could be regarded as the biggest bank heists in world history. Banks and security researchers have previously identified four similar

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