Economy

‘There Will Be More Sacking’ – CBN Staff

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Naijanews April 11, 2024 10:29 a.m.

Positions affected range from high-ranking officials such as directors, deputy directors, and assistant directors to principal managers, senior managers, and lower-ranking staff. The apprehension is not good for productivity and …

Positions affected range from high-ranking officials such as directors, deputy directors, and assistant directors to principal managers, senior managers, and lower-ranking staff. The apprehension is not good for productivity and …

Forex: Bureaux De Change Operators Make Demand From CBN

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Naijanews April 11, 2024 10:25 a.m.

“We also want to pledge our continuing support to the CBN’s proactive and effective policies to address our volatility headwinds.” Gwadabe further said as a self-regulatory body, its members have …

“We also want to pledge our continuing support to the CBN’s proactive and effective policies to address our volatility headwinds.” Gwadabe further said as a self-regulatory body, its members have …

CBN Exchange Rate For Euro, Pounds And Other Currencies

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Naijanews April 11, 2024 9:55 a.m.

Naija Newsreports that the CBN’s proactive measures have successfully halted the naira’s freefall, marking a significant turnaround from its low point of 1,900 per dollar in late February to a …

Naija Newsreports that the CBN’s proactive measures have successfully halted the naira’s freefall, marking a significant turnaround from its low point of 1,900 per dollar in late February to a …

Customs FX Rate For Import Duties Drops To N1238/$

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Naijanews April 11, 2024 9:37 a.m.

This move represents a significant shift from the N1,251 per dollar rate established on March 25, signalling the apex bank’s determination to control currency fluctuation and bolster the naira’s value. …

This move represents a significant shift from the N1,251 per dollar rate established on March 25, signalling the apex bank’s determination to control currency fluctuation and bolster the naira’s value. …

Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today 11th April 2024

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Naijanews April 11, 2024 5:22 a.m.

The exchange rate for a dollar to naira at LagosParallel Market (Black Market)players buy a dollar for N1170 and sell at N1180 on Wednesday 10th April 2024, according to sources …

The exchange rate for a dollar to naira at LagosParallel Market (Black Market)players buy a dollar for N1170 and sell at N1180 on Wednesday 10th April 2024, according to sources …

Nigerian Government Settles CBN Debt, Boosts Investor Confidence

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Naijanews April 10, 2024 1:49 p.m.

The government’s financial instruments, particularly NTBs and Bonds, have witnessed increased demand from investors, driven by the CBN’s attractive interest rates and strong defense of the naira. The increase in …

The government’s financial instruments, particularly NTBs and Bonds, have witnessed increased demand from investors, driven by the CBN’s attractive interest rates and strong defense of the naira. The increase in …

Full List Of Key Policies Taken By CBN To Stabilise The Naira

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Naijanews April 10, 2024 8:23 a.m.

Below is the list of the key reforms taken by the CBN In March, in an effort to rectify distortions in the retail segment of Nigeria’s foreign exchange market and …

Below is the list of the key reforms taken by the CBN In March, in an effort to rectify distortions in the retail segment of Nigeria’s foreign exchange market and …

Dangote To Meet Oil Marketers As Dealers Demand N850/litre Diesel

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Naijanews April 10, 2024 6:52 a.m.

The marketers called for the intervention of the Federal Government and urged the managers of the refinery to consider the high cost of logistics required to transport the product from …

The marketers called for the intervention of the Federal Government and urged the managers of the refinery to consider the high cost of logistics required to transport the product from …

Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today 10th April 2024

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Naijanews April 10, 2024 5:19 a.m.

The exchange rate for a dollar to naira at LagosParallel Market (Black Market)players buy a dollar for N1200 and sell at N1210 on Tuesday 9th April 2024, according to sources …

The exchange rate for a dollar to naira at LagosParallel Market (Black Market)players buy a dollar for N1200 and sell at N1210 on Tuesday 9th April 2024, according to sources …

Binance executive detained in Nigeria; faces legal battle amid tax evasion allegations

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Pulse-gh April 9, 2024 12:35 p.m.

Gambaryan faces charges of tax evasion, currency speculation, and money laundering amounting to $34 million by the Economic and Financial Crimes Commission. The two executives had visited Nigeria in February …

Gambaryan faces charges of tax evasion, currency speculation, and money laundering amounting to $34 million by the Economic and Financial Crimes Commission. The two executives had visited Nigeria in February …

Nigeria, Other African Nations’ Economy To Grow By 3.4% In 2024 – World Bank Predicts

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Naijanews April 9, 2024 10:45 a.m.

The report also highlights a concerning trend among over half of the African governments struggling with external liquidity problems and unsustainable debt, emphasizing that the growth rates, although improving, will …

The report also highlights a concerning trend among over half of the African governments struggling with external liquidity problems and unsustainable debt, emphasizing that the growth rates, although improving, will …

Naira Gains Strength In FX Market, Appreciates To N1,120/$

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Naijanews April 9, 2024 7:50 a.m.

This rate was further reduced to N1,101/$ on Monday, coinciding with the CBN’s announcement of its continued support to the BDCs with $10,000 sales, marking a proactive step towards stabilizing …

This rate was further reduced to N1,101/$ on Monday, coinciding with the CBN’s announcement of its continued support to the BDCs with $10,000 sales, marking a proactive step towards stabilizing …

Currency Traders Lament As Naira Gains More Value Against US Dollar At Official And Parallel Markets

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Naijanews April 9, 2024 7:45 a.m.

“Consequently, the current practice of using foreign currency-denominated collaterals for Naira loans is hereby prohibited, except, where the foreign currency collateral is: Eurobonds issued by the Federal Government of Nigeria; …

“Consequently, the current practice of using foreign currency-denominated collaterals for Naira loans is hereby prohibited, except, where the foreign currency collateral is: Eurobonds issued by the Federal Government of Nigeria; …

Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today 9th April 2024

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Naijanews April 9, 2024 5:15 a.m.

The exchange rate for a dollar to naira at LagosParallel Market (Black Market)players buy a dollar for N1218 and sell at N1223 on Monday 8thth April 2024, according to sources …

The exchange rate for a dollar to naira at LagosParallel Market (Black Market)players buy a dollar for N1218 and sell at N1223 on Monday 8thth April 2024, according to sources …

Mark Zuckerberg Surpasses Elon Musk To Become World’s Third Richest Person, Aliko Dangote’s Wealth Soars

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Naijanews April 8, 2024 11:17 p.m.

This surge in Zuckerberg’s wealth comes at a time when Elon Musk has witnessed a decline in his fortune, with a decrease of $48 billion since the start of 2024, …

This surge in Zuckerberg’s wealth comes at a time when Elon Musk has witnessed a decline in his fortune, with a decrease of $48 billion since the start of 2024, …

CBN Bans Use Of Foreign Currencies As Collateral for Naira Loan

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Naijanews April 8, 2024 2:47 p.m.

In March, the apex bank sold $10,000 to BDCs at a rate of N1,251/$ and directed the BDCs to sell to eligible customers at a rate not exceeding 1.5 per …

In March, the apex bank sold $10,000 to BDCs at a rate of N1,251/$ and directed the BDCs to sell to eligible customers at a rate not exceeding 1.5 per …

Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today 8th April 2024

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Naijanews April 8, 2024 4:47 a.m.

The exchange rate for a dollar to naira at LagosParallel Market (Black Market)players buy a dollar for N1240 and sell at N1250 on Sunday 7th April 2024, according to sources …

The exchange rate for a dollar to naira at LagosParallel Market (Black Market)players buy a dollar for N1240 and sell at N1250 on Sunday 7th April 2024, according to sources …

Price Of Diesel Will Fall Below N1,000 By May With Dangote Refinery Working – Rewane

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Naijanews March 31, 2024 2:23 a.m.

Rewane who was reacting to recent economic decision of the president Bola Tinubu-led government explained that a significant drop in the pump price of diesel would positively impact the activities …

Rewane who was reacting to recent economic decision of the president Bola Tinubu-led government explained that a significant drop in the pump price of diesel would positively impact the activities …

Price Of Cement Decrease By 26% In Abuja

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Naijanews March 30, 2024 4:34 p.m.

She said, “Dangote is now N7,800 while BUA is N11,000 per bag from N10,000 and 15,000 it was sold weeks ago.” Similarly, at Gwarimpa, a retailer, Yinka Adebayo, confirmed that …

She said, “Dangote is now N7,800 while BUA is N11,000 per bag from N10,000 and 15,000 it was sold weeks ago.” Similarly, at Gwarimpa, a retailer, Yinka Adebayo, confirmed that …

States With Highest, Lowest Cost Of Healthy Diet In Nigeria

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Naijanews March 30, 2024 1:42 p.m.

The report added that animal-source foods were the most expensive food group recommendation to meet in February, accounting for 38 per cent of the total CoHD to provide 13 per …

The report added that animal-source foods were the most expensive food group recommendation to meet in February, accounting for 38 per cent of the total CoHD to provide 13 per …

Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today 30th March 2024

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Naijanews March 30, 2024 4:57 a.m.

The exchange rate for a dollar to naira at LagosParallel Market (Black Market)players buy a dollar for N1240 and sell at N1280 on Friday 29th March 2024, according to sources …

The exchange rate for a dollar to naira at LagosParallel Market (Black Market)players buy a dollar for N1240 and sell at N1280 on Friday 29th March 2024, according to sources …

Nigeria’s Economy Records Over $1.5 Billion Inflow – CBN

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Naijanews March 29, 2024 3 p.m.

Also, the apex bank conducted the Nigerian Treasury Bills (NTBs) auction of N1.64trn on March 27, 2024, at stop rates of 16.24 per cent, 17 per cent, and 21.124 per …

Also, the apex bank conducted the Nigerian Treasury Bills (NTBs) auction of N1.64trn on March 27, 2024, at stop rates of 16.24 per cent, 17 per cent, and 21.124 per …

BUA Cement’s Bank Borrowings More Than Triple In 2023

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Naijanews March 29, 2024 10:43 a.m.

The company said in a statement,“The FX loss capitalised relates to the portion of the exchange losses arising from foreign currency borrowings eligible to be capitalised as part of the …

The company said in a statement,“The FX loss capitalised relates to the portion of the exchange losses arising from foreign currency borrowings eligible to be capitalised as part of the …

Just In: Naira Crashes To N1,309/$1 At Official Market

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Naijanews March 29, 2024 7:33 a.m.

Adding to the financial landscape changes, the CBN has recently announced new capital requirements for banks, significantly raising the minimum capital base for commercial banks with international authorization to N500 …

Adding to the financial landscape changes, the CBN has recently announced new capital requirements for banks, significantly raising the minimum capital base for commercial banks with international authorization to N500 …

Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today 29th March 2024

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Naijanews March 29, 2024 5:03 a.m.

The exchange rate for a dollar to naira at LagosParallel Market (Black Market)players buy a dollar for N1250 and sell at N1280 on Thursday 28th March 2024, according to sources …

The exchange rate for a dollar to naira at LagosParallel Market (Black Market)players buy a dollar for N1250 and sell at N1280 on Thursday 28th March 2024, according to sources …

BREAKING: CBN Increases Minimum Capital Requirements For Banks

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Naijanews March 28, 2024 9:06 p.m.

The CBN circular said the minimum capital requirement for proposed banks shall be paid-up capital, adding that the new minimum capital requirement shall apply to all new applications for banking …

The CBN circular said the minimum capital requirement for proposed banks shall be paid-up capital, adding that the new minimum capital requirement shall apply to all new applications for banking …

Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today 28th March 2024

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Naijanews March 28, 2024 4:50 a.m.

The exchange rate for a dollar to naira at LagosParallel Market (Black Market)players buy a dollar for N1310 and sell at N1330 on Wednesday 27th March 2024, according to sources …

The exchange rate for a dollar to naira at LagosParallel Market (Black Market)players buy a dollar for N1310 and sell at N1330 on Wednesday 27th March 2024, according to sources …

[Just In]: BDCs Speaks On Selling Dollar At N1,000/$1

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Naijanews March 27, 2024 3:01 p.m.

The dollar in the parallel market is presently selling at a lower price than the official market.” “Abdusallam BDC” (Abubakar Abdusallam) who, however, spoke with Punch, on Tuesday in Abuja, …

The dollar in the parallel market is presently selling at a lower price than the official market.” “Abdusallam BDC” (Abubakar Abdusallam) who, however, spoke with Punch, on Tuesday in Abuja, …

Nigeria’s Public Debt Stock Increased By 10.73 Per Cent In Q4 2023 – NBS Reports

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Naijanews March 27, 2024 10:27 a.m.

Specifically, external debt was recorded at N38.22 trillion (42.50 billion dollars) in Q4 2023, while domestic debt amounted to N59.12 trillion (65.73 billion dollars),Naija Newsunderstands. “However, the share of external …

Specifically, external debt was recorded at N38.22 trillion (42.50 billion dollars) in Q4 2023, while domestic debt amounted to N59.12 trillion (65.73 billion dollars),Naija Newsunderstands. “However, the share of external …

CBN, EFCC Probe Banks, Firms Over Alleged Forex Racketeering

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Naijanews March 27, 2024 6:41 a.m.

The crux of the investigation lies in the audit findings that a significant portion of the scrutinized transactions lacked proper documentation and, in many instances, were deemed outright illegal. Furthermore, …

The crux of the investigation lies in the audit findings that a significant portion of the scrutinized transactions lacked proper documentation and, in many instances, were deemed outright illegal. Furthermore, …

No Downward Adjustment In Petrol Pump Price – Oil Marketers

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Naijanews March 27, 2024 6:38 a.m.

He added that the cost of hiring vessels to move products to Depot facilities is still within $70,000 to $80,000 a day, adding that the cost of freight and port …

He added that the cost of hiring vessels to move products to Depot facilities is still within $70,000 to $80,000 a day, adding that the cost of freight and port …

Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today 27th March 2024

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Naijanews March 27, 2024 4 a.m.

MTN’s active subscriptions dropped from 87 million in December 2023 to 79.7 million in January, resulting in a loss of approximately 7.3 million subscriptions, as per the most recent NCC …

MTN’s active subscriptions dropped from 87 million in December 2023 to 79.7 million in January, resulting in a loss of approximately 7.3 million subscriptions, as per the most recent NCC …

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