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Aliko Dangote revealed that Nigeria’s government contributes only 15% to the country’s GDP, with the private sector driving the economy. Speaking at General Ibrahim Babangida’s book launch, he praised Babangida’s role in fostering private sector growth and pledged N8 billion to support the...
The Nigerian National Petroleum Company Limited (NNPCL) has failed to remit N13.763 trillion to the Federation Account between 2012 and 2024, sparking concerns over financial transparency. Allegations of fund diversion and unpaid taxes have prompted investigations, raising demands for...
Aliko Dangote hailed former military leader Ibrahim Babangida for policies that boosted Nigeria’s private sector, citing the abolition of import licences. Speaking at Babangida’s book launch, Dangote pledged N8 billion to the IBB Presidential Library. Other business leaders, including BUA’s...
The Central Bank of Nigeria (CBN) has kept the Monetary Policy Rate at 27.5% to stabilize the economy. Governor Olayemi Cardoso confirmed that other key monetary parameters remain unchanged, including the cash reserve ratio and liquidity ratio. The decision reflects CBN’s cautious stance in...
![Today's Naira Rate [20-02-2025]: Naira Appreciates to N1,514/$1 as CBN’s Forex Policies Take Effect](/data/attachments/213/213672-e564755bb46369580ab1e9546e81de77.jpg?hash=PERHMQHP25)
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Today's Naira Rate [20-02-2025]: Naira Appreciates to N1,514/$1 as CBN’s Forex Policies Take Effect
The naira appreciated to N1,514/$1 in the parallel market, gaining N11 from the previous day. This follows the Central Bank of Nigeria’s (CBN) forex policies, increased dollar liquidity, and non-renewal of banks’ dollar swaps. The official rate remains at N1,510/$1, narrowing the gap between...
President Bola Tinubu has appointed Dr. Danjuma Adamu Ismaila as the new Rector of the Nigerian College of Aviation Technology (NCAT), Zaria. With expertise in air transport management and aviation security, Ismaila is expected to enhance training standards, improve safety, and align NCAT with...
The Nigerian government has sued Binance for $81.5 billion, accusing the crypto giant of tax evasion, regulatory violations, and economic losses. The Federal Inland Revenue Service claims Binance operated illegally, failing to pay $2.001 billion in taxes. A court hearing is set for March 3...
Ex-Kuda executive Rosemary Hewat has sued the fintech company in the UK, alleging gender discrimination, wrongful termination, and a toxic work culture. She claims CEO Babs Ogundeyi sidelined female employees, denied her stock options, and dismissed her after she raised concerns. Kuda has...
The Central Bank of Nigeria (CBN) has ordered banks to disclose details of dormant accounts, unclaimed balances, and financial assets on their websites. The move aims to enhance transparency and ensure compliance with financial regulations. Banks must publish account holder names, account types...
Microsoft has launched a $1 million initiative to train one million Nigerians in AI skills over two years. Announced at the Microsoft AI Tour in Lagos, the program aims to equip youths with AI knowledge for global competitiveness, fostering digital transformation, job creation, and technological...
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