Business

The Central Bank of Nigeria (CBN) has reduced ATM withdrawal charges, inter-bank transfer fees as it issues a downward review of charges for electronic banking transactions. The review is in its revised guidelines to charges by Banks, Other Financial Institutions (OFIs), and Non-Bank Financial Institutions, Naira Metrics reports. In the amended guidelines on charges by banks, other financial institutions (OFIs), and non-bank financial institutions, CBN downward reviewed charges for electronic banking transactions. This is according to the circular by Chibuzor Efobi, the Director, Financial Policy and Regulation Department, titled “Re: Guide To Charges By Banks, Other Financial And Non-Bank Financial Institutions.” The CBN stated that the review was in response to “further evolution in the financial industry in the last few years.’’ The new guide, according to the apex bank, includes a review of other bank charges in order to comply with market changes. There were some changes like withdrawals…

Unilever is cutting 1,500 management jobs around the world as the consumer goods giant comes under intense pressure from shareholders to boost growth. The cuts amount to a 15% reduction in the number of senior managers and 5% of junior managers, Unilever said in a statement on Tuesday. Factory workers will not be affected. Unilever, which owns household-name brands including Ben & Jerry’s and Dove, said it’s moving to a “simpler” structure divided into five business units — Beauty and Wellbeing, Personal Care, Home Care, Nutrition, and Ice Cream — each with their own president. CEO Alan Jope said the overhaul will allow Unilever to be “more responsive to consumer and channel trends” with “crystal-clear accountability for delivery.” “Growth remains our top priority and these changes will underpin our pursuit of this,” added Jope. Shareholders have ratcheted up the pressure on Unilever after its stock sank 10% last year. The…

Getting rewarded for spending money is a dream that is probably going to remain exciting for many people, but not for the Firstmonie Wallet users. In a two month Transact and Win campaign that started on November 22, 2021, First Bank of Nigeria Limited is rewarding several customers for carrying out transactions on its Firstmonie Wallet application.

Africa’s global bank, United Bank for Africa has said that it has concluded plans to commemorate the 4th year anniversary of its flagship artificial intelligence Chabot, with new offerings set to further change the face of digital banking in Nigeria.