Business
The rhythm of Nigeria's business world
Aliko Dangote, Africa's richest man, asserts that Nigeria will cease petrol imports within weeks, thanks to his refinery's efforts. The refinery aims to meet West Africa's fuel needs and transform Africa's energy sector.
Aliko Dangote, the renowned Nigerian entrepreneur and chairman of Dangote...
![Today's Naira Rate [17-05-2024]: Nigeria's Currency Crisis Deepens as Naira Slides to 1,533.99 Despite Central Bank Efforts](/data/attachments/204/204044-8457c57119a478bc5717b11aa4a694ef.jpg)
Nigeria
Today's Naira Rate [17-05-2024]: Nigeria's Currency Crisis Deepens as Naira Slides to 1,533.99 Despite Central Bank Efforts
Despite intervention by the Central Bank of Nigeria, the Naira fell to a two-month low, reversing earlier gains. With significant market volatility and upcoming rate decisions, the Naira's decline raises concerns about Nigeria's economic stability and investor confidence.
The Central Bank of...
Nigeria's consumer watchdog FCCPC declined to intervene as pay-TV operator MultiChoice implemented price hikes for its DStv and GOtv packages, drawing criticism over lack of action.
In a move that has drawn criticism from consumer advocates, the Federal Competition and Consumer Protection...
Nigeria
Dangote Refinery Set to Boost Operations with Massive 24 Million Barrel Crude Purchase from US
Dangote Refinery intends to procure 24 million barrels of crude from the US, signaling its growing influence in global oil trading. Nigeria's struggles to meet its oil production quotas and Dangote's quest for cost-effective supplies highlight the refinery's pivotal role.
Dangote Refinery...
![Today's Naira Rate [16-05-2024]: Nigerian Naira Shows Resilience, Reaches 1,459.02/$ After Recent Slump](/data/attachments/204/204006-6e202405f2f497d63440ce71bc64dc98.jpg)
Nigeria
Today's Naira Rate [16-05-2024]: Nigerian Naira Shows Resilience, Reaches 1,459.02/$ After Recent Slump
Discover the recent resurgence of the Nigerian naira to 1,459.02 per dollar after a week of decline across official and unofficial foreign exchange markets. Explore the factors contributing to this turnaround and its impact on currency stability and economic sentiment in Nigeria's financial...
Flutterwave, a prominent fintech firm in Africa, reportedly lost between $7 million and $20 million due to a major security breach, as unauthorized individuals diverted funds to multiple bank accounts in April 2024.
According to TechCabal, Flutterwave, one of Africa's leading financial...
Nigeria
Nigerians Unmoved as Emirates Airlines Announces Resumption of Nigeria Flights from October 1, 2024 Amid Economic Hardship
Emirates Airlines announces the resumption of flight operations to Nigeria starting October 1, 2024. Nigerians express joy and relief at the news, anticipating improved connectivity to Dubai and beyond.
Emirates Airlines announces the resumption of flight operations to Nigeria from October 1...
![Today's Naira Rate [15-05-2024]: Naira Slips to N1,550 Against Dollar, Contrary to Official Market's Rise](/data/attachments/203/203976-147ab142f8cf48479284e57b3d23fc38.jpg)
Nigeria
Today's Naira Rate [15-05-2024]: Naira Slips to N1,550 Against Dollar, Contrary to Official Market's Rise
Naira's value fluctuates as it depreciates to N1,550 against the dollar in the parallel market while appreciating to N1,459.02 at the official window. Currency traders quote rates in Lagos, amid a $289.14 million daily turnover. Meanwhile, EFCC raises concerns over foreign currency transactions...
HerRyde, a women-only ride-hailing app in Nigeria, has temporarily suspended operations after a successful year-long trial in Abuja, aiming to improve its system and secure additional funding for future expansion. The app empowered women drivers and prioritized passenger safety.
In Nigeria's...
![Today's Naira Rate [14-05-2024]: Naira Depreciates to N1,520.40 Against USD, Amid Forex Shortage](/data/attachments/203/203959-8457c57119a478bc5717b11aa4a694ef.jpg)
Nigeria
Today's Naira Rate [14-05-2024]: Naira Depreciates to N1,520.40 Against USD, Amid Forex Shortage
The Nigerian Naira depreciates to a two-month low against the US dollar, hitting N1,520.40 at the official foreign exchange market. With a shortage of dollars affecting the market, the currency faces challenges, reflecting economic complexities. Analysts attribute the downturn to various...
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