business

CBN Slashes Bank Transfer Fees

The Central Bank of Nigeria, CBN, has announced some major changes on financial services bore by customers in a bid to encourage financial inclusion and reduce the burden of bank charges on consumers.

With the update, customers will now pay ₦10 for electronic transfers below ₦5,000 and the withdrawal fee charged for the use of other banks’ Automated Teller Machines from ₦65 to ₦35.

Other reductions include ₦25 for electronic transfer between ₦5,000 and ₦50,000 while only electronic transfer above ₦50,000 will attract ₦50 charge.

The revised Guide to Charges by Banks, Other Financial and Non-Bank Financial Institutions will however take effect on January 1, 2020.

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business

Airbus and Green Africa announce strategic Partnership for 50 A220 Aircraft

Green Africa Airways, Nigeria’s Lagos-based airline, has signed a Memorandum of Understanding (MoU) for 50 A220-300 aircraft, one of the major orders to be placed globally for the A220 programme and the largest ever from the African continent.

Babawande Afolabi, Founder and CEO of Green Africa Airways said the Green Africa story is a story of entrepreneurial boldness, strategic foresight and an unwavering commitment to using the power of air travel to create a better future.

Airbus Chief Commercial Officer Christian Scherer optimistic about the partnership, said the unique characteristics of the A220 will allow the airline to unlock destinations and route pairs that previously would have been considered non-viable.

The A220 is the only aircraft purpose-built for the 100-150 seat market; it delivers unbeatable fuel efficiency and widebody passenger comfort in a single-aisle aircraft.

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business

How to Get Tax Identification Number, TIN From LIRS

With the Finance bill now law and set to be gazetted by 1st of February, banks have started requesting for your Tax Identification Number (TIN) and will soon restrict access on accounts not verified.

You can get it online from the LIRS uaing https://t.co/BvA4oRzFa3.

All you that is required is is your Bank Verification Number, BVN.

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