Business

Investor Moves To End Land Grabbing In Edo

Published

3 years ago

June 6, 2022

The Managing Director of GlobaKey Investment ltd and Diamond Estate, Osazee Edigin, says his venturing into real estate is to nip land grabbing and cushion the effects of housing deficits in Edo State.

He said this while allocating lands to subscribers of the Diamond Estate in Evborohun community in Oredo local government area of the state.

Edigin said issue of land grabbing and sales of a parcel of land to multiple buyers has remained a teething problem for quite a long time adding that this has contributed immensely to housing deficits in the state.

He said with the move of people buying land from a registered body, guarantees its safety.

“We have actually come to open this community by putting an estate here and also encouraging our people to own their property.

“Today, we came for plot allocation to all our subscribers in Evborohun community in Oredo ward 2.

” We want to ensure that people no longer have the issue of land grabbing, the issue of community trouble, the issue of underdevelopment in the state.

” What we have done today is to create that platform for Edo people not to be worried when they buy lands from a reliable company like ours and we have come to partner with Edo people to ensure that we have a mini city here that will give them rest of mind”, he said.

For Mrs Akhimien Martha, one of the subscribers, she said she is fulfilled while calling on other Nigerians to invest in landed property noting that it is a risk worth taking.

Business

CBN Sets POS Maximum Transactions In Fresh Guidelines

Published

3 hours ago

October 8, 2025

Editor

The Central Bank of Nigeria has rolled out fresh guidelines for agent banking, known as Point of Sales, across the country.

The apex also in the guidelines pegged daily POS transactions at N1.2 million per agent and N100,000 per individual.

CBN disclosed this in a circular signed by its Director of the Payments System Management Department, Musa Jimoh.

The guidelines further mandate all financial institutions to publish the list of all their POS agents on their website and to display it in their branches.

CBN noted that the guidelines would take effect from April 1, 2026.

“The Guidelines aim to establish minimum standards for operating agent banking in Nigeria, enhancing agent banking to provide financial services and promoting financial inclusion, encouraging responsible market conduct and improving service quality in agent banking operations.

“This circular takes effect from the date of release, while the implementation of agent location and agent exclusivity shall be in effect from April 1, 2026.

“POS agents are restricted to a maximum of N1.2 million per day. Individual customers are limited to N100,000 in daily transactions.

“These limits are intended to curb misuse, enhance financial integrity, and protect consumers within the agent banking framework,” it stated.

Business

Naira Records First Appreciation Against US Dollar At Official Market

Published

4 hours ago

October 8, 2025

Editor

The Naira recorded appreciation on Wednesday against the United States dollar at the official market, the first time in three days this week.

The Central Bank of Nigeria’s exchange rate data showed that the Naira strengthened to N 1,470.62 per dollar on Wednesday, up from N1,471.09 traded on Tuesday.

This means that the country’s currency firmed up slightly by N0.47 against the dollar on a day-to-day basis.

Monday and Tuesday, the Naira recorded negative sentiment at the official foreign exchange market.

However, at the black market, the Naira remained unchanged at N1,500 per dollar on Wednesday, the same rate exchanged on Tuesday.

The apex bank data indicated that the country’s external reserves, a determinant of the exchange rates, stood at $42.57 billion as of October 7, 2025.

Business

SEC Warns Nigerians Of AfriQuantumX Ponzi scheme

Published

4 hours ago

October 8, 2025

Editor

Nigeria’s Securities and Exchange Commission (SEC) has named AfriQuatum, with a claimed worth of N76 billion, as a Ponzi scheme.

The regulator also urged the public to be cautious about investing with the firm.

SEC disclosed this in a recent statement.

According to the SEC, any person who places an investment or engages with the entity does so at his or her own risk, adding that its operations exhibit characteristics commonly associated with fraudulent Ponzi schemes.

“The attention of the Securities and Exchange Commission has been drawn to the activities of AfriQuantumX, which holds itself out as an investment platform trading on and selling cryptocurrency and stocks to investors in Nigeria.

“The Commission hereby informs the public that AfriQuantumX is not registered by the Commission either to solicit investments from the public or operate in any capacity within the Nigerian capital market,” SEC stated.