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MMM Nigeria sets fund withdrawal limit for participants

Operators of Mavrodi Moneybox Mundial (MMM) Nigeria have set a temporary fund withdrawal limit for its participants as the level of investment in the alleged Ponzi scheme dipped since its return from a one-month hiatus on January 13.... Read more


Nigeria’s CBN may legalise use of Bitcoin for transactions

Alhaji Umaru Ibrahim, the Managing Director, Nigeria Deposit Insurance Commission (NDIC), on Friday said the commission and CBN had set up a committee to look into the trending digital currency, Bitcoin.... Read more


MMM founder accuses media of causing panic among participants

As subscribers await the resumption of operations of Mavrodi Moneybox Mondial (MMM) Nigeria in January 2017, the founder of the Ponzi scheme Sergey Mavrodi has accused the Nigerian press of deliberately "fueling hysteria around MMM and causing panic."... Read more


MMM denies crash report, says scheme still alive

The operators of Mavrodi Mondial Moneybox (MMM) in Nigeria have denied reports that the reports that the alleged Ponzi scheme has crashed.... Read more


MMM founder writes Nigeria government, says scheme not a scam

Against the backdrop of persistent warnings from government organs to Nigerians against participating in the Mavrodi Mondial Moneybox, the founder of the scheme said the alleged Ponzi was not a scam.... Read more


CBN warns banks against charging double digit interest rates

The Governor of Central Bank of Nigeria (CBN), Mr Godwin Emefiele, has warned Participating Financial Institutions (PFIs) in the country against charging double-digit interest rate on intervention funds guaranteed by the CBN.... Read more


Clamp down on BDCs forces forex transaction underground

Foreign currencies transaction at the Bureau de Change (BDC) segment of the foreign exchange market has been stifled since the clamp down on the operators by security agencies.... Read more


Security agents raid forex black operators to stop slide of naira

Security agents raided the offices of black market currency dealers on Thursday, detaining some and ordering others to sell dollars at a lower rate in a bid to break the fall of the currency, Reuters reported.... Read more


Dangote Group expands investments into agriculture, mining

The Dangote Group has expanded its investments into agriculture and mining, Mansur Ahmed, Executive Director, Corporate Communications of the group, said in Kano.... Read more


Reps ask security agencies to arrest MMM promoters

The House of Representatives on Wednesday asked the Economic and Financial Crimes Commission and the Central Bank of Nigeria to immediately go after the promoters Mavrodi Mondial Moneybox, otherwise known as "MMM" in Nigeria.... Read more


Department of Petroleum Resources (DPR) Recruitment 2016

Department of Petroleum Resources (DPR), in line with its regulatory mandate of ensuring sustainable development of Nigerias oil and gas resources... Read more


UBA wins big at BusinessDay annual banking awards

Pan-African banking group, the United Bank for Africa (UBA), at the weekend won two strategic awards at the annual BUSINESSDAY Banking Awards.... Read more


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