Naira has continued its appreciation streak at the parallel section of the foreign exchange (FX) market. The local currency traded at N1,500/$ on Wednesday, representing a gain of 9.09 percent from N1,650/$... Read more »
Two senior executives at Binance have been detained in Nigeria as Africa’s most populous country tries to rein in speculation on the naira by cracking down on cryptocurrency exchanges. The executives flew... Read more »
Amid President Bola Tinubu’s government’s clampdown on cryptocurrency to save the battered naira, the world’s biggest cryptocurrency trading platform, Binance, has disabled its peer-to-peer function for Nigerian users. Peer-to-peer function, popularly known as... Read more »
Nigeria’s Central Bank Governor, Olayemi Cardoso has stated that about $26 billion has passed through Binance Nigeria. He took this question in response to the activities of cryptocurrency platforms like Binance. Read more »
The Central Bank of Nigeria (CBN) has announced the sale of foreign exchange to Bureau de Change (BDC) operators in the country. This was contained in a memo signed by Hassan Mahmud,... Read more »
In a move aimed at rectifying the persisting distortions in the retail segment of Nigeria’s foreign exchange market, the Central Bank of Nigeria (CBN) has taken a decisive step to bridge the... Read more »
After a week of sustained raids, the operations of Bureau De Change (BDCs) will resume nationwide today (Tuesday), it has been learnt. After a week of sustained raids, the operations of Bureau... Read more »
Naira appreciates further to N1,650/$ at parallel market Naira appreciated by 6.78 percent, representing N120 drop compared to the N1,770/$ traded on February 23, 2024. Read more »
Pat Utomi, a prominent economist and leader of the Labour Party, has issued a strong caution that the naira could plummet to N10,000 per dollar if immediate action is not taken. Utomi... Read more »
The Association of Master Bakers and Caterers of Nigeria has announced that it is poised to begin a nationwide strike on Tuesday, February 27. In a statement on Monday announcing the strike,... Read more »
Qatar has now agreed to President Bola Tinubu’s proposal for a meeting to discuss business matters, despite previous reports suggesting that they had rejected the visit. The meeting is scheduled for March... Read more »
Former Anambra State Governor, Peter Obi, criticized the reported crackdown on Bureau De Change (BDC) operators by government agencies, stating that it is misguided. The Economic and Financial Crimes Commission (EFCC) conducted... Read more »
Nigeria’s economy grew 3.46% in the fourth quarter (NGGDPQ=ECI), opens new tab, a similar pace as it did a year earlier, data showed on Thursday, as oil output picked up and government... Read more »
The federal government on Thursday, February 23, announced that it has stopped the exportation of Liquefied Petroleum Gas (LPG) also known as cooking gas, to reduce the scarcity and soaring price in... Read more »
Black market racketeers are currently taking advantage of the few day’s strike actions by tanker drivers, as the price of Premium Motor Spirit popularly known as petrol skyrocketed, hitting ₦1000 per litre... Read more »
The naira Tuesday slid further at the parallel market in spite of the clampdown the federal government ordered on foreign exchange market speculators. Bureau De Change (BDC) hubs were raided in Abuja,... Read more »
Dangote Cement Plc has vehemently denied accusations of attempting to export cement to the Republic of Cameroon via Adamawa State, Nigeria. The company clarified that two of its trucks, each laden with... Read more »
Food prices have begun to decrease at major grain markets in Kano, Taraba, and Niger states.In recent weeks, there have been protests in Lagos, Kano, and Niger states, as well as in... Read more »
The Federal Government on Monday vowed to address the concerns of oil transporters and distributors to ensure smooth operation despite the high cost, especially in the maintenance of trucks used in the... Read more »
The Naira experienced a sharp depreciation against the US dollar on February 19, 2024, reaching an intra-day high of N1,712. The domestic currency depreciated by 3.78% to close at N1,598.54 to a dollar at the... Read more »