NIGERIA TAKES GIANT LEAP TOWARDS ENERGY SELF-SUFFICIENCY AS CRUDE PURCHASE IN NAIRA TRANSACTION KICKS OFFGroup condemns Tinubu’s Human Rights Abuses: Calls for Respect for Democratic Principles…Innoson Electric Cars: Nigeria’s First Locally Made EV is HereAdenike Macaulay: Championing African Travel and Empowering Women in LeadershipDEV PARTNERS RENEW COMMITMENTS TO PERSONS WITH DISABILITIES IN NIGERIA
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Category: Economy and Capital Markets
Dollar Value Drops To N930 Per Naira
On Thursday, the parallel market, an illegal foreign currency market, saw the naira drop to N930 to the dollar. The reason for this is because Nigerian banks are unable to…
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G-20 summit: Tinubu is in India to promote trade and investment
In order to showcase Nigeria as a business-friendly nation and to attend the G-20 Leaders' Summit, President Bola Tinubu arrived New Delhi India To discuss measures to foster greater economic…
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Dollar Now N850 At Parallel Market
On Wednesday's parallel market, the naira strengthened further versus the US dollar, closing at 850/dollar. The Central Bank of Nigeria stated its intention to intervene in the foreign exchange market…
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Seplat Energy’s oil rig near Delta falls, leaving one person dead and several missing.
According to Seplat Energy Plc, one person died as a result of the 'Majestic' oil rig near Ovhor in Delta State collapsing. This was announced by the oil firm on…
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Naira crash: CBN will penalize banks selling illegal foreign currency
The Central Bank of Nigeria (CBN) has stated that it will deal with commercial banks selling foreign currency illegally. This is coming on the heels of the crash of the…
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CBN Owes JP Morgan, Others $13.8 Billion
Nigeria's Central Bank owed JP Morgan and Goldman Sachs a combined total of $7.5 billion as of the fiscal year that concluded in December 2022. Another $6.3 billion in foreign…
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Naira drops further, exchanges at N945/$1
The Naira fell even more on Thursday in the black market, trading in Abuja at N945 to the dollar as opposed to N925 the day before. However, the Naira closed…
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Tinubu names a University of Ibadan student to the Tax Reforms Committee.
Orire Agbaje, a 400-level student at the University of Ibadan, has been selected by President Bola Ahmed Tinubu to the Presidential Committee on Fiscal Policy and Tax Reforms. In Abuja,…
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Nationwide labor protests have begun, according to NLC President Ajaero
Nigeria's labor unions have started nationwide protests. The Nigeria Labour Congress (NLC) president, Joe Ajaero, made this revelation in an interview with Channels Television on Wednesday at Unity Fountain in…
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Concerns mount over CBN interest rate hike despite hardship
Some of President Bola Ahmed Tinubu's economic policies have raised concerns from financial experts. Nigerians groan at the searing misery as the removal of gasoline subsidies, Naira floating, and the…
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