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Nigerian-British Chamber of Commerce Inaugurates 18th President and Chairman of Council




L-R Mr. Sola Oyetayo, Chief Fola Osibo, Princess Ladun Lawal, Mr. Ray Atelly, Mrs Theresa Ananyi , Dr. Joe Dada, Mr. Alan Davies Honourary Life Vice Presidents of the Nigerian-British Chamber of Commerce, celebrating the inauguration of Ray Atelly, frpa as the new President of the organization.



The foremost bilateral chamber of commerce in Nigeria with the mission to continuously encourage and promote mutually beneficial trade relations between Nigeria and Britain known as the Nigerian-British Chamber of Commerce swore in the Chamber’s 18th President.

The momentous Presidential Inauguration Dinner held on Friday, November 24, 2023, marking the swearing-in of Ray Atelly, as the 18th President of the foremost bilateral chamber of commerce in Nigeria.

The dinner event, held at the Jasmine and Iris Hall of the famous Eko Hotel and Suites, brought together distinguished guests, political leaders, and prominent figures from across the nation to celebrate the beginning of a new era in the chamber.

The evening was an ode to unity, diversity, and the democratic spirit that binds the 46 years old organization. Guests were treated to an exquisite culinary experience, featuring a menu curated to reflect the rich tapestry of Nigerian and British culture, and the administration’s commitment to inclusivity.

The highlights of the evening were the inaugural address delivered by President, Ray Atelly, in which he outlined the vision of his administration, the launch of the President’s Women and Youth Entrepreneurship Development Centre, and the grand unveiling of the NBCC MSME Ideathon competition, a program that invites everyone to share ideas and proffer working solutions to entrepreneurship problems across board.

In attendance were esteemed dignitaries, including the Chief Host, Governor Babajide Sanwo-Olu ably represented by Hon. Mrs. Folashade Ambrose-Medebem, Honourable Commissioner for Commerce, Cooperatives, Trade and Investment, Lagos State , Chairman of the Day, Alhaji M.K. Ahmad, Chairman Polaris Bank Limited, Honourable Minister of Industry, Trade and Investment, represented by Mr. Charles Odii, Managing Director SMEDAN, and Guest Speaker, Mr. Tony Elumelu, Chairman, Heirs Holding, represented by Mr. Muyiwa Akinyemi , Deputy Group Managing Director of UBA Group, who all graced the occasion to share their optimism in the future of the Nigerian-British Chamber of Commerce with Ray Atelly, in charge.

The entertainment line-up featured music, dance and spoken words performances. Performers captivated their audience with artistic brilliance, adding an extra layer of celebration to the historic event.

The Nigerian-British Chamber of Commerce is honoured to have played a role in bringing together this extraordinary gathering, fostering an environment of unity, dialogue, networking, and celebration. As we embark on this new chapter in our nation’s history, we look forward to witnessing the positive impact of the leadership and vision set forth by President Ray Atelly.


Chairman of Presidential Inauguration Dinner Committee, Mr. Segun Akintemi presenting an art portrait of Ray Atelly, frpa to him whilst being decorated as the new NBCC President.

NBCC President and Chairman of Council, Ray Atelly, frpa with Alhaji M.K Ahmad OON
Chairman, Polaris bank Limited and chairman of the day.


See Reason banks are asking customers to renew BVN and NIN linkage







The Nigerian banks are currently pushing their customers to  link their National Identification Number (NIN) and Bank Verification Number (BVN) as the March deadline fixed by the Central Bank of Nigeria (CBN) approaches.


This has caused a lot of uproar amongst customers who received messages from their banks. Complaining that the exercise is a repetition as they had linked all the details before now.

According to Nairametrics report, it was gathered that many may have linked their BVN but not the NIN as required by the new directive.


For tier 2 and 3 accounts and wallets, the CBN’s directive said they must be linked with both BVN and NIN, while only tier 1 accounts have the option of BVN and/or NIN.


According to bank sources, some customers who had linked their BVN have also been discovered to have irregularities in their details and they would be required to perfect their records with the banks to avoid being blocked.


Why banks are sending messages


Some bank officials who spoke with Nairametrics under the condition of anonymity said they were only sending messages to tier 2 and 3 customers, who have not linked the two numbers to their accounts.


“This is a directive from the Central Bank, and we have to ensure that our customers are well informed and that is why we are sending messages to those that have not fulfilled these requirements.

“In most cases, you have customers with tier 2 and tier 3 accounts, who have only linked their BVN and not NIN. But the directive is that they must be linked and that is why those who have linked their BVN will still get the same message for BVN and NIN. But what they will need to do is to just link their NIN,” one of the sources said.

“In some cases, you found out that the information in the BVN submitted by the customers and that of their NIN do not tally. This set of customers will need to redo the exercise to regularize their details,” another official added.

Customers lament


Meanwhile, bank customers in Nigeria have been lamenting as they receive messages from their banks asking them to link their NIN and BVN. Many of the customers said this exercise has been done and wondered why the banks are asking them to repeat the same.


To worsen the case, the customers are required to visit their nearest bank branch to do the linkage. Many of the customers who believed they had done the linking in the past expressed worry that they would have to go through the rigors of queueing at the bank again.


The CBN’s directive


The CBN on December 1, 2023, announced that all bank accounts without Bank Verification Number (BVN) and National Identification Number (NIN) will be placed on “Post no Debit” effective April 2024.


The new directive was contained in a circular issued by the central bank and sent to all deposit money banks. The central bank also stated that all the BVN or NIN attached to and associated with all accounts/wallets must be electronically revalidated by 31 January 2024.

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CBN begins sale of dollars at N1,301 per USD 








The Central Bank of Nigeria (CBN) has announced the sale of foreign exchange to Bureau de Change (BDC) operators in the country.


This was contained in a memo signed by Hassan Mahmud, the director of Trade and Exchange Department at the apex bank.


According to the memo,  the move is part of CBN’s “strategic step” to increase liquidity and strengthen the naira against “manipulators”.


Mahmud noted that the CBN will sell the United States dollars to BDC operators at N1,301 per USD.


The BDC operators are expected to sell to customers at not more than 1% above the purchase rate from the CBN.


Recall that the naira recently traded as high as N1,800 to the dollar.


The statement reads: “Following the on-going reforms in the foreign exchange market, aimed at achieving an appropriate market determined exchange rate for the Naira, the Central Bank of Nigeria (CBN) has observed the continued price distortions at the retail end of the market, which is feeding into the parallel market and further widening the exchange rate premium.


“To this end, the CBN has approved the sale of foreign exchange to eligible Bureau De Change (BDCs) to meet the demand for invisible transactions. The sum of $20,000 is to be sold to each BDC at the rate of N1,301/$ – (representing the lower band rate of executed spot transactions at NAFEM for the previous trading day, as at today, 27th February 2024).


“All BCs are allowed to sell to end-users at a margin NOT MORE THAN one percent (1 %) above the purchase rate from CBN.


“All eligible BDCs are directed to make the Naira payment to the designated CB ForeignCurrency Deposit Naira Accounts and submit confirmation of payment, with other necessary documentations, for disbursement at the appropriate CBN Branches – ABUJA, AWKA, LAGOS and KANO)”

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Nigerian Breweries releases new prices of drinks








The Nigerian Breweries Plc recently announced an upward price change for its Stock-Keeping Units (STUs) with effect from February 19.


A letter dated February 12 titled: ‘Price review notification,’ by the Zonal Business Manager (West), Lekan Awosanya, reads in part: “This is to inform you that we are constrained to review the prices of some of our SKUs effective from Monday, 19th February 2024. This review has become necessary because of the continued rising input cost and the need to mitigate the impact.


“In appreciation of our great partnership and your commitment, we will deliver at the current prices all open orders that are fully funded and created in our system before 00.00hrs on Monday, 19th February 2024.


“While thanking you for your commitment to our great partnership, be rest assured that we will continue to support your sales/distribution efforts as always. For further clarification, please do not hesitate to contact your Regional Business Manager.”


Here is the new price list


1. GULDER – N950


2. STAR – N850


3. 33 EXTRA – N850


4. HEINEKEN – N1300


5. LIFE – N850


6. LEGEND – N1250


7. TIGER – N750

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