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![Today's Naira Rate[01-10-2024]: Naira Declines, Closing September at N1,705/$1](/data/attachments/208/208816-a1ff39dd457a9e619692b98c1000130e.jpg?hash=PERHMQHP25)
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CBN Governor Olayemi Cardoso explained the rationale for floating the Naira to align official rates with market realities. He highlighted the need for credibility in monetary policy, acknowledging criticism but emphasizing transparency and stability. Cardoso also discussed raising the Monetary...
![Today's Naira Rate[06-10-2024]: Black Market Dollar Rate Reaches N1,674 as Economic Challenges Persist](/data/attachments/208/208942-40f177f6e3caf61ab226cc86d490ccfd.jpg?hash=hFfFcRmkeL)
Nigeria
Today's Naira Rate[06-10-2024]: Black Market Dollar Rate Reaches N1,674 as Economic Challenges Persist
As of October 6, 2024, the black market exchange rate for the US dollar against the Nigerian naira has reached N1,674. This stark difference from the official rate of N1,657 by the Central Bank highlights ongoing economic challenges and a persistent shortage of foreign currency in Nigeria.
As...
Nigeria officially commenced the sale of crude oil and refined petroleum products in naira on October 1, 2024. This strategic move by the federal government, led by President Bola Tinubu, aims to boost economic growth and self-sufficiency while reducing reliance on foreign currencies.
Nigeria...
Nigeria's government has exempted 63 items from Value-Added Tax (VAT) under the 2024 fiscal reforms, including electric vehicles, gas processing equipment, and biofuel components. This initiative, led by the Presidential Committee on Fiscal Policy, aims to reduce industry costs, promote cleaner...
The death toll from the Niger State boat accident has risen to 42 after a boat carrying over 300 passengers capsized in Mokwa. Rescue operations have saved 150 people, and six more bodies were recovered. President Tinubu has directed an investigation into the rise of boat accidents in Nigeria...
Super Eagles duo Ahmed Musa and Shehu Abdullahi trained with Kano Pillars ahead of their NPFL Matchday 5 clash against Sunshine Stars. The ex-Kano Pillars players, both free agents, are expected to boost the team's performance as they prepare for the 2024/25 NPFL season.
Super Eagles stars...
The Nigerian government has secured a $200 million loan from Afreximbank to boost its creative industries. This initiative, part of the Destination 2030 vision, aims to create two million jobs and increase the country’s GDP contribution, positioning Nigeria as a global cultural leader by 2030...
The Nigerian government has removed VAT on cooking gas, diesel, and CNG to revitalize the oil and gas sector. Finance Minister Wale Edun announced these incentives to lower living costs, enhance energy security, and attract global investments, positioning Nigeria as a leader in the oil and gas...
Banks across Nigeria are experiencing widespread network failures, causing disruptions in digital transactions, including internet banking, ATMs, and PoS systems. Customers are left frustrated, while banks remain silent on the issue. Telecom operators deny responsibility, pointing to banks'...
Zenith Bank customers faced significant disruptions in online banking services due to delayed maintenance beyond the announced schedule. Many voiced frustration on social media, citing issues accessing funds for urgent needs. The bank's response failed to alleviate concerns, leading to further...
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