If you have taken a loan from a financial institution and are unable to repay or fail to fulfill the repayment obligations due to circumstances beyond your control, that constitutes a bad loan. Definition Also referred to as bad debts, bad loans arise when the borrower no longer pays loans they obtained from a bank or … Read more
A stockbroker is a person or company that buys and sells stocks and other investments to individuals, companies, and other financial market participants in return for a commission or fee. They act as a financial advisor and investment manager. Their Roles Investment advisor They provide investment advice to their clients. Not just advice, but must … Read more
Bank Identification Number (BIN) is the first six to eight digits on a credit or debit card, which can be found either on the front or back of the card. Also known as Issuer Identification Number (IIN), the BIN is used to identify the financial institution that issued the card. It plays an important role … Read more
The operatives of the Economic and Financial Crimes Commission (EFCC) on Monday, February 19, 2024, resorted to using firearms in their attempt to salvage the Nigerian currency from total collapse. Watch video: They had stormed the Abuja Zone 4 market, popular for foreign exchange trading, and started shooting sporadically at Bureau De Change operators in an attempt to … Read more
Every year, an American website headquartered in San Francisco, California, allows former and current employees of companies to review their current or former workplaces. The overall reviews on Glassdoor are used to rate companies. This year, the website listed consulting firm Bain & Company, NVIDIA, ServiceNow, and MathWorks as the top best companies to work … Read more
While the campaign for the reduction in the cost of governance continues, state governors allocate a humongous amount for the maintenance of their offices in the approved 2024 budget. In the face of economic difficulties experienced by Nigerians, some of the 36 state governors appear unperturbed by the challenges faced by the people who elected … Read more
As the foreign exchange crisis deepens in Nigeria, the apex bank has directed all Authorized Dealer Banks in the country to stop payment of Personal Travel Allowance and Business Travel Allowance (PTA/BTA) by cash to applicants. In a communique dated February 14 and signed by the Director of Trade and Exchange Department, Hassan Mahmud, the … Read more
The Nigerian currency is at its lowest ebb ever. It has never experienced the kind of depreciation it is currently undergoing since it became the official currency on January 1, 1973. With the current exchange rate of the Naira against the United States Dollar, which stands at $1/N1,517.204 according to the CBN rate, the national … Read more
The career paths for bankers in Nigeria are hierarchical. In some banks, you begin as a graduate trainee, progress to executive trainee, and then advance up the ladder. This progression varies from one bank to another. We have some of the top billionaire bankers in Nigeria today who entered the banking sector in their early … Read more
Osun State has begun the digitized issuance of state and local government certificates of origin. The announcement was made by Governor Ademola Adeleke on Wednesday, February 14, 2024, in an update about what his administration is doing in the area of Ease of Doing Business. With this development, it is now easy for Osun State … Read more