Economy and Business
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Naira declines to N1,450 per Dollar in black market
The naira experienced a notable decline on Thursday afternoon, reaching N1,450 per dollar in the parallel market. This represents a decrease…
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ASR Africa kicks off construction of N250 million Abdulsamad Rabiu sports complex in UNIJOS
The Abdul Samad Rabiu Africa Initiative (ASR Africa), the philanthropic initiative of the Chairman of BUA Group, Abdul Samad Rabiu…
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JUST IN: CBN debunks rumors of cryptocurrency transaction restrictions
The Central Bank of Nigeria (CBN) has addressed circulating rumours regarding alleged directives aimed at restricting transactions with cryptocurrency exchanges.…
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AMCON moves against Rejesh Valecha, Milan Nigerian Ltd over N42 Billion Debt
The Asset Management Corporation of Nigeria, AMCON, has initiated bankruptcy proceedings against the Chairman of Milan Industries Limited, Milan Nigeria…
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Tinubu’s govt set to receive fresh $2.2 billion World Bank loan
President Bola Tinubu’s government is set to receive a fresh $2.2 billion single-digit interest loan from the World Bank. According…
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Naira is the best performing currency worldwide – CBN
Despite its drastic fall, the governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, has described the naira as…
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BREAKING: First Bank board members in emergency meeting following MD’s sudden resignation
The board of First Bank has convened an emergency meeting at the bank’s headquarters in response to the unexpected resignation…
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NPA Secures $700m Facility From Citibank To Rehabilitate Apapa, Tin-Can Ports
The Nigerian Ports Authority (NPA) has negotiated a loan of $700million from the Citibank to be funded by the UK…
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More economic woes for Nigerians as food inflation hits 40% in March 2024
Nigeria has witnessed an unprecedented surge in food inflation, reaching a staggering 40% in March 2024, according to the latest…
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BREAKING: Naira reaches N1,000/$ ahead of CBN’s BDC sales
The naira has surged to the milestone of N1,000 against the US dollar in anticipation of the Central Bank of…
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BREAKING: Nigeria’s inflation rate climbs to 33.2% in March 2024
The latest data from the National Bureau of Statistics (NBS) reveals a notable uptick in Nigeria’s inflation rate, reaching 33.2%…
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BREAKING: CBN sells dollars to BDCs below market rate at N1,101/$1
The Central Bank of Nigeria (CBN) has taken steps to stabilize the foreign exchange market by issuing a circular to…
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“New state governors borrow N226.8 billion in first six months” – DMO raises alarm
New data from the Debt Management Office (DMO) disclosed that within the first six months of assuming office, 13 newly…
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11 Nigerian banks may be acquired as CBN upgrades minimum capital base to N500 billion
The Central Bank of Nigeria’s (CBN) recent announcement of new minimum capital requirements has stirred significant speculation within the banking…
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Easter travel expenses hit all-time high as bus fares reach N45,000, air fares move to N158,000
Travellers in Nigeria are grappling with a significant surge in transportation costs, particularly for long-distance journeys during the Easter holiday.…
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BREAKING: CBN reports $1.5 billion inflow into Nigerian economy
The Central Bank of Nigeria (CBN) has announced a significant inflow of over $1.5 billion into the country’s economy, signalling…
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BREAKING: Bureau De Change operators deny rumours of dollar selling at N1,000
Contrary to rumours circulating on social media platform X (formerly Twitter), Bureau De Change (BDC) operators have refuted claims that…
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CBN uncovers fresh $2.4 billion foreign exchange scam
The Central Bank of Nigeria (CBN) governor, Yemi Cardoso, says that law enforcement agencies are investigating foreign exchange forwards valued…
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BREAKING: CBN raises benchmark interest rate to 24.75%
The Central Bank of Nigeria (CBN)’s Monetary Policy Committee (MPC) has announced a significant increase in the benchmark interest rate,…
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BREAKING: CBN resumes sale of forex to Bureau De Change operators, sells $10,000 at N1,251/$1
The Central Bank of Nigeria (CBN) has resumed the sale of foreign exchange (forex) to Bureau De Change (BDC) operators,…
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