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The rhythm of Nigeria's business world
Nigeria
Nigerians Speculate on Political Consequences of Aliko Dangote's Naira Devaluation Statement
Aliko Dangote's statement on the naira devaluation has sparked varied reactions among Nigerians. While some attribute the economic challenges to the previous administration, others speculate about Dangote's interests in the matter, citing alleged benefits he may have received during the period...
During the Annual General Meeting of Dangote Sugar Refinery Plc, Aliko Dangote vehemently criticized the decision to float the naira, branding it as the most detrimental event of 2023.
The abrupt devaluation of the naira, plummeting from N460 to N1,400 against the US dollar, wreaked havoc...
Nigeria
Nigerian Crypto Exchange Under Scrutiny as Patricia CEO Faces Social Media Backlash Amid Allegations of Fund Misuse and Company Collapse
Patricia, a well-known crypto exchange in Nigeria, is under fire for reportedly misusing funds and using investors' money to finance a lavish lifestyle.
Nigerians are taking to social media to criticize the company, urging it to provide explanations and take responsibility.
While the company...
Nigeria
Another Nigerian Fintech Scandal: Patricia CEO, Hanu Fejiro, Clashes with TechCabal Journalist Regarding Alleged Collapse Exposé
The CEO of Patricia, Hanu Fejiro Agbodje, finds himself embroiled in controversy as he faces criticism from Nigerians and Ezra 'God' Olubi, the CTO of Paystack. The uproar stems from allegations that Agbodje attempted to gaslight his followers into bullying a TechCabal journalist who inquired...
Amidst a turbulent economic landscape, the Nigerian naira continues its downward spiral against the United States dollar, amplifying concerns about the stability of the country's currency and its impact on trade dynamics. In a significant development, the Central Bank of Nigeria (CBN) has raised...
Nigeria
Nigerians Outraged as Multichoice Proceeds with DSTV, Gotv Subscription Increases Despite Court Order
Multichoice Nigeria, a prominent Pay TV provider, has proceeded with the upward adjustment of its prices for DStv and GOtv subscribers, despite a recent court ruling prohibiting the company from raising rates.
On April 24, the company announced its intention to increase prices for its DStv and...
![Today's Naira Rate [30-04-2024]: Naira Remains Firm at 1,350 as CBN Implements Measures to Attract FX Inflows](/data/attachments/203/203480-8457c57119a478bc5717b11aa4a694ef.jpg)
Nigeria
Today's Naira Rate [30-04-2024]: Naira Remains Firm at 1,350 as CBN Implements Measures to Attract FX Inflows
The Nigerian naira maintained its position at 1,350 against the US dollar on the parallel market, signaling stability amidst recent economic fluctuations. While the official exchange rate at the Nigerian Autonomous Foreign Exchange Market (NAFEM) saw a decline to 1,419.11 per dollar, the Central...
Dangote Sugar Refinery Plc (DSR) has announced ambitious plans to ramp up local sugar production through its Backward Integration Programme (BIP), aiming to produce 700,000 metric tonnes of refined sugar from locally grown sugarcane within the next four years. Aliko Dangote, Chairman of DSR...
As fuel scarcity intensifies across Nigeria, the Independent Petroleum Marketers Association of Nigeria (IPMAN) has escalated tensions by threatening to disrupt the supply of Premium Motor Spirit (PMS), commonly known as petrol. The catalyst for this drastic action is the alleged non-payment of...
A resurgence of petrol scarcity has engulfed various states in Nigeria, accompanied by long queues at petrol stations, crowded bus stops, and escalated traffic woes. Frustrated residents, facing soaring petrol prices approaching N2000 per liter, are resorting to purchasing fuel in jerrycans...
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