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Day: March 29, 2024

Naira appreciates to N1,280 against Dollar on parallel market
BusinessCurrency

Naira appreciates to N1,280 against Dollar on parallel market

The naira’s upward trajectory continues as the US dollar is currently trading at N1,280 on the parallel market, reflecting a…

byayotilewaMarch 29, 2024March 29, 2024
Super-sized liquidity returns to Nigeria’s FX market as daily trades near $1bn
BusinessCurrencyLocal

Super-sized liquidity returns to Nigeria’s FX market as daily trades near $1bn

Nigeria’s foreign exchange market experienced its highest turnover in a single day since 2017 on Thursday, with a total of…

byayotilewaMarch 29, 2024March 29, 2024
FG directs banks to deduct 0.375% stamp duty on loans
BankingBusinessLocal

FG directs banks to deduct 0.375% stamp duty on loans

The Federal Government has instructed commercial banks in Nigeria to deduct and remit 0.375% on all loans disbursed by them,…

byayotilewaMarch 29, 2024March 29, 2024
Local

FG to arraign Binance, 2 others for alleged tax evasion April 4

The Federal Government is set to arraign Binance Holdings Limited and its top officials, Tigran Gambaryan and Nadeem Anjarwalla, on…

byayotilewaMarch 29, 2024March 29, 2024
CBN sells N1.64 trillion in treasury bills as higher interest rates attract investors
BusinessLocal

CBN sells N1.64 trillion in treasury bills as higher interest rates attract investors

The Central Bank of Nigeria (CBN) successfully conducted an auction of Nigerian Treasury Bills (NTBs) on March 27, 2024, which…

byayotilewaMarch 29, 2024March 29, 2024
Crypto tycoon Sam Bankman-Fried sentenced to 25 yrs in prison
BusinessCryptoLocal

Crypto tycoon Sam Bankman-Fried sentenced to 25 yrs in prison

Sam Bankman-Fried, the disgraced cryptocurrency prodigy, received a 25-year prison sentence on Thursday following his conviction in one of the…

byayotilewaMarch 29, 2024March 29, 2024
Oando PLC suspended from Johannesburg stock exchange over financial reporting delays
BusinessLocal

Oando PLC suspended from Johannesburg stock exchange over financial reporting delays

Oando PLC, a prominent Nigerian energy company listed on the Nigerian Exchange Limited (NGX) and the Johannesburg Stock Exchange (JSE),…

byayotilewaMarch 29, 2024March 29, 2024
Daily FX turnover jumps to record $857 million
Business

Daily FX turnover jumps to record $857 million

On Thursday, March 28th, the daily forex turnover reached a remarkable $857 million, marking the highest level since the implementation…

byayotilewaMarch 29, 2024March 29, 2024
CBN Increases capital base for commercial banks to N500- N200 billion
BreakingBusiness

CBN Increases capital base for commercial banks to N500- N200 billion

In a sweeping financial reform announced on Thursday, March 28, 2024, the Central Bank of Nigeria (CBN) has raised the…

byayotilewaMarch 29, 2024March 29, 2024
South Africa’s producer inflation slows to 4.5%
Africa

South Africa’s producer inflation slows to 4.5%

Statistics South Africa reported that South Africa’s producer inflation rate eased to 4.5% year-on-year in February, down from 4.7% in…

byayotilewaMarch 29, 2024March 29, 2024

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