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Business

Overdue FX Forwards

CBN Sells FX to BDCs at N1,251/$1 to Ease Naira Street Value

March 26, 2024
By Adedapo Adesanya To further ease the street value of the Naira to the Dollar, the Central Bank of Nigeria (CBN) has issued the currency to Bureau De Change (BDC) operators at the rate of N1,251/$1. This was disclosed in a circular addressed to the President of the Association of Bureau De Change Operators of Nigeria (ABCON), where it sold
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interest rate hike

BREAKING: CBN Increases Interest Rate by 2.00% to 24.75%

March 26, 2024
By Dipo Olowookere The Central Bank of Nigeria (CBN) has announced an increase in the Monetary Policy Rate (MPR) by 200 basis points or 2.00 per cent to 24.75 per cent from 22.75 per cent. The apex bank announced the fresh interest rake hike on Tuesday at the end of its Monetary Policy Committee (MPC) meeting, which commenced yesterday in
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Okonjo-Iweala WTO

Nigeria Seeks WTO Assistance in Digital, Marine Economies

March 26, 2024
By Adedapo Adesanya The President of the Nigerian Senate, Mr Godswill Akpabio, has sought the country’s collaboration with the World Trade Organisation (WTO) in the area of digital and marine economies. Mr Akpabio, who led Nigeria’s delegation to the on-going 148th Assembly of the Inter-Parliamentary Union (IPU), made the disclosure after a courtesy visit to the Director General of the
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cardoso MPC meeting FX obligations

Cardoso Insists All Contractual FX Obligations Settled

March 26, 2024
By Adedapo Adesanya  The Governor of the Central Bank of Nigeria (CBN), Mr Yemi Cardoso, has insisted that the bank has met all its valid contractual foreign exchange (FX) obligations. Recall that recently, the apex bank said that all owed FX obligations to the tune of $7 billion had been cleared. However, some quarters insist that the money has not
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Risk-Free Assets

Investors Liquidate Nigerian Stocks for More Attractive, Risk-Free Assets

March 27, 2024
By Dipo Olowookere The Nigerian Exchange (NGX) Limited suffered a 0.18 per cent on Tuesday after the Central Bank of Nigeria (CBN) further increased the Monetary Policy Rate (MPR) by 200 basis points or 2.00 per cent to 24.75 per cent. This action, which was expected as predicted by some analysts, forced some investors to liquidate their stocks for attractive
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1 … 4,047 4,048 4,049 4,050 4,051 … 4,117

Politics

Jumia EasyBuy

Jumia Nigeria Partners EasyBuy for Buy Now Pay Later Service

May 17, 2024
By Modupe Gbadeyanka A new service has been introduced by the leading e-commerce platform in Nigeria, Jumia, made possible with a partnership with EasyBuy. The new offering is Buy Now Pay Later (BNPL), allowing consumers across Nigeria to buy their desired products and make flexible payments over a time. A statement from Jumia disclosed that with this collaboration, consumers will
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Travel

Latest

Nigeria’s Local Vehicles Production Dropped In 2015

A new report by the Deloitte Africa’s Automotive Insights, which was published in April 2016, has revealed that the local production of vehicles in Nigeria dropped in 2015. The report said production dropped from 4,000 units in 2014 to 2, 500 units
August 18, 2016

The True Story Of My Arrest By EFCC

By Abubakar ‘Abusidiq’ Usman Shortly after the Economic and Financial Crimes Commission (EFCC) released me from detention last week Tuesday, I said I was going to tell the story of my arrest especially against the backdrop of the claim by the anti-graft agency
August 18, 2016

Lagos NIPR Holds Annual Stakeholders Conference

The Lagos State chapter of the Nigerian Institute of Public Relations (NIPR) has fixed Thursday, August 25, 2016, for its annual stakeholders conference. A statement by the professional body on Wednesday disclosed that the event will take place at the Agip Recital
August 17, 2016

Rio 2016: Germany Tame Nigeria To Reach Final

Germany have defeated Nigeria’s Dream Team 6 to clinch a spot in the final of the 2016 Rio Olympics. In the men’s football second semi-final match played on Wednesday night, Germany beat Nigeria 2-0 to book a place with Brazil in the
August 17, 2016

Mahrez Extends Stay At Leicester

Leicester City player, Riyad Mahrez, has signed a new contract with the English Premier League champions. The future of the Algerian footballer had been in doubts lately with speculations that he was on his way out of the club. On Wednesday, August
August 17, 2016

CBN Increases Dollar Sale To BDCs To $50,000

The maximum amount of Dollars that could be sold to the Bureau De Change (BDC) operators in the country has been increased from $30,000 to $50,000 per week. At the Bankers’ Committee meeting held at the headquarters of the Central Bank of
August 17, 2016

EFCC Detains Ex-Imo Governor Achike Udenwa

A former Governor of Imo State, Achike Udenwa has been kept in the custody of the Economic and Financial Crimes Commission (EFCC). Mr Udenwa was rearrested on Wednesday, August 17, 2016, by the anti-graft agency in connection with an alleged N350 million
August 17, 2016

COSON Goes To Ibadan In September

Copyright Society of Nigeria (COSON), the nation’s wave making copyright collective management organization for musical works and sound recordings which is revolutionizing royalty collection and distribution in Nigeria berths in the ancient city of Ibadan, the Oyo State capital on Thursday, September
August 17, 2016

African Union Hosts Africa Fashion Reception

The African Union Commission is set to host the Africa Fashion Reception at the AU headquarters in Addis Ababa. The event scheduled for 13th – 15th September, 2016 will be presenting fashion designers from about 30 African countries. Only 1 top designer
August 17, 2016

EFCC Grills FUNAAB Vice Chancellor

Operatives of the Economic and Financial Crimes Commission (EFCC) on Wednesday invited Vice Chancellor of Federal University of Agriculture Abeokuta, FUNAAB, Professor Olusola Oyewole, for questioning. The VC of the Ogun State-based institution was quizzed alongside the university Bursar, Moses Ilesanmi at
August 17, 2016
1 … 4,047 4,048 4,049 4,050 4,051 … 4,071

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