Category: Economy and Capital Markets

UPDATE : Central Bank announced new requirements for Bureau de Change operators.

The Central Bank of Nigeria (CBN) has announced new requirements for Bureau de Change (BDC) operators. These changes, it said, aim to improve the way BDCs operate in Nigeria’s foreign…

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UPDATE : CBN Raises Interest Rate To 26.25%

To combat growing inflation, the Central Bank of Nigeria's Monetary Policy Committee hiked interest rates by 150 basis points, to 26.25 per cent from 24.75 per cent in March.  …

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Operators want FG’s assistance to expand the mortgage industry.

Operators in the housing sector have called for collaboration by the Federal Government with financial institutions to revitalise the mortgage sector in the country.   They made the call at the…

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CAC to deploy AI for faster registration of businesses in Nigeria

The Corporate Affairs Commission, CAC, has disclosed that it is exploring ways to make use of Artificial Intelligence, AI, to achieve registration of companies within minutes in line with global…

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Nigeria Goverment to remove Naira from P2P trading platforms

The President Bola Tinubu-led federal government has declared that it will take the naira off of all peer-to-peer (P2P) exchanges. During a virtual conference with blockchain stakeholders on Monday, Emomotimi…

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Banks’ loans to private sector, govt decline by N24tr in March – CBN

The Central Bank of Nigeria, CBN, has said that banks loans to the private sector and the government declined by N24t trillion in March this year.   In a money…

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OPay Bans Cryptocurrency, Other Virtual Currency Trading

Nigerian fintech companies have warned their customers against trading in crypto currency or any virtual currency on their apps, threatening to block any accounts found engaging in such activities. At…

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Dangote cement export of clinker, cement increased by 87.2%

Management of Dangote Cement Plc has revealed that the company dispatched seven ships of clinker- from Nigeria to Ghana and Cameroon and that the export, for the first quarter of…

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Dangote Cement Doubled Sales To N817.4b In Three Months

Africa’s largest cement group, Dangote Cement Plc, doubled its sales in the first quarter as pre-tax profit rose to N166.4 billion within the first three months. Key extracts of the…

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Dangote Petroleum Refinery Crashes Diesel and Aviation Fuel Prices to N940 and N980, Respectively

Dangote Petroleum Refinery has, again, announced a further reduction in the prices of both diesel and aviation fuel to N940, N980 per litre respectively.     This is coming in…

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