Nigeria To Refund Deposits To Exchange Bureaux Applicants After FX Sale Ban
Nigeria’s central bank will refund exchange bureaux that have paid deposits and licence fees which have yet to be approved,…
Category: Local
Nigerian Manufacturers Battling Stunted Growth Blame Forex Scarcity
The manufacturing sector has seen woeful growth in the last five years, and a key problem is businesses can’t find…
OPEC: Nigeria May Be Hard-Hit By Declining Investment In Oil Sector
The Organisation of Petroleum Exporting Countries (OPEC) yesterday warned that with declining investments in the global oil and gas industry,…
Ban On Forex Sale: NESG, Rewane Ask CBN To Ensure Policy Success, Cushion Effects
Following the cancellation of the sale of about $5.7 billion foreign exchange (forex) annually to about 5,500 licenced Bureau De…
NCC Introduces Devices To Tackle SIM-Related Crimes
The Nigerian Communications Commission (NCC) has instituted a Device Management System (DMS) to tackle SIM boxing and call masking, two…
Unique NIN Enrolments Hit 59.8m With Average Of Three SIMs
The total number of unique National Identity Number (NIN) that has been verified across networks in Nigeria has reached 59.8…
Shoprite Out, Pick ‘N Pay in – The Nigeria Strategy For S.A’s 2nd Largest Retailer
At the beginning of the month, the Shoprite Group announced the completion of their exit from Nigeria after a few…
Power Grid Collapses Again Amid Lack Of Backup Capacity
The national power grid has suffered another system collapse, worsening the blackout being experienced by households and businesses in parts…
Naira Now Exchange At 522/$1 As Central Bank Of Nigeria Discontinued The Sale Of Foreign Exchange To Bureaux De Change
The naira has dropped to N522 to a dollar at the parallel market as the Central Bank of Nigeria (CBN)…
AMCON Takes Over NICON
The Asset Management Company of Nigeria, AMCON, has effectively taken over National Insurance Corporation of Nigeria, NICON Insurance was privatised…
Nigeria Coronavirus Infections Jump To Highest Level Since March
(Bloomberg) — Coronavirus infections in Nigeria surged to the highest level in almost five months as a third wave of…
TECH Binance CEO Changpeng Zhao Says He’s Willing To Step Down As World’s Biggest Crypto Exchange Welcomes Regulation
The boss of cryptocurrency exchange Binance says he’s willing to step down from his role as the company seeks to…
IMF Retains 2.5% Economic Growth Projection For Nigeria
The International Monetary und, IMF, has retained its 2.5 per cent projection for Nigeria’s economic growth in 2021. IMF however…
‘Private Sector Aids 60% Illicit Financial Flows From Africa’
The Chairman of the Independent Corrupt Practices and Other Related Offences Commission (ICPC), Prof. Bolaji Owasanoye, has said that the private…
Experts Blame COVID-19 As States’ IGRs Shrink By 22% In Two Years
The aggregate internally generated revenue of the 36 states in the country and the Federal Capital Territory Administration fell by…
Champion Breweries Gains N1.5 Billion In Market Value, p 9%
At the end of today’s trading session, Champion Breweries Plc recorded gains of 9.00% which can be attributed to buy-interests…
Nigeria Back To The Debt Trap!
“Our political leaders have suddenly developed not just a taste for, but a voracious appetite for debt. As usual, most…
Nigeria’s CBN Retains Key Policy Rate
The bank says increasing the rate will hinder the recovery of the economy, while an expansionary policy will make inflation…
Kenyan Entrepreneur Turns Water Hyacinth Weed Into Cooking Fuel
A project in Kenya is using biogas technology to tackle two major pollution problems with one device: a machine that…
Nigeria’s Revenue-To-GDP Ratio Lowest, Private Sector Choking – World Bank
Nigeria’s revenue-to-Gross Domestic Product ratio, which fell to between five and six per cent last year, is the lowest in…
‘They’ve Turned Into Money Laundering Agents’ — Central Bank Of Nigeria Bans Sale Of FX To BDCs
The Central Bank of Nigeria (CBN) says it has stopped sale of foreign exchange (FX) to Bureau De Change (BDCs)…
Naira Stable At Official, Black Markets
The naira closed at N504.00 per $1 on Monday. Naira maintained stability against the U.S dollar at both the official…
When Debt Service Consumes 98% Of Revenue
Oil price climbed down to $68 per barrel last week after sailing pretty close to $80 in the frenzy of demand surge. Even as…
Expert Urges Data Security Against $6tr Loss
Chief Executive Officer, Youverify, Dr Gbenga Odegbami, has advised individuals and companies to take data security seriously. Speaking on the…
Federal Government Of Nigeria Extends NIN-SIM Verification Again To October 31
The Federal Government has once again approved the extension of the deadline for National Identity Number (NIN)-Subscriber Identity Module (SIM)…
After Crypto Market Woes, Central Bank Of Nigeria Considers ENaira Launch Oct
There are key expectations for the eNaira currency to be launched by the Central Bank of Nigeria (CBN) this October…
External Reserves Gain $76.5 Billion In Seven Days
In a curious twist of fate last week, there was a breather for the falling foreign exchange reserves. The figures…
VAT, Multiple Taxations Undermine Stock Market Performance
Barely two years after the resumption of Value Added Tax (VAT) to the stock market, investors have returned about N30…
Three Stocks That Are Grabbing Our Attention
United Capital Plc is a leading financial services Group in Africa focused on leveraging technology to empower businesses, individuals and…
Court Restrains FG from Accessing N200bn Unclaimed Dividends
A Federal High Court sitting in Abeokuta has granted an interim order restraining the federal government from taking over the…