CAC to Launch AI-Driven Portal for 30-Minute Business Registrations

The Corporate Affairs Commission (CAC) is set to introduce an artificial intelligence (AI)-powered portal designed to expedite business registrations to just 30 minutes, a significant reduction from the current 24-hour to three-day timeframe. Registrar-General Hussaini Ishaq Magaji announced that the new system, slated for launch next week, will eliminate human interference, ensuring a faster, more…

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CBN Introduces Daily PoS Withdrawal Limit of N100k Per Customer

The Central Bank of Nigeria (CBN) has announced a new daily cash withdrawal limit of N100,000 per customer for point-of-sale (PoS) transactions. This directive, outlined in a circular titled “Cash-out Limits for Agent Banking Transactions,” was sent to deposit money banks (DMBs), microfinance banks, mobile money operators, and super-agents. According to the CBN, the policy…

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Video: Staff Shut Ondo Internal Revenue Office Over Non-payment Of New Minimum Wage

In a dramatic development, workers at the Ondo State Internal Revenue Service (ODIRS) have shut down the agency’s office in protest over the non-payment of the newly approved minimum wage. The protest erupted this morning, with staff members taking to the streets in front of the ODIRS office, demanding the immediate implementation of the new…

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CBN Reiterates Commitment to Curb Inflation Through Tight Monetary Policy

The Central Bank of Nigeria (CBN) has reaffirmed its dedication to controlling the nation’s inflation rate, which it described as “unacceptably high.” This was highlighted by the CBN Governor, Olayemi Cardoso, during the 2024 Annual Bankers’ Dinner organized by the Chartered Institute of Bankers of Nigeria (CIBN) in Lagos. According to the latest report from…

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