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![Today's Naira Rate[16-11-2024]: Nigerian Naira Faces Steep Decline, Parallel Market Hits N1,750/$](/data/attachments/210/210283-5e995ef978efd380c57591c54b3dddf2.jpg?hash=FHqxQvjPSE)
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Everything You Need to Know About the NDDC Youth Internship SchemeI want to apply
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Nigeria
Bitmama Just Made a Major Fintech Power Move by Acquiring Payday – Here's What You Need to Know
Bitmama Inc., a prominent blockchain payments platform, has officially acquired Payday, a virtual card service provider. The acquisition, facilitated through Bitmama's cross-border payments product, Changera, signifies a transformative shift in the industry.
Despite initial speculations of a...
A groundbreaking report by SB Morgen Intelligence, titled "Paying the Price on Health," has unearthed a concerning reality within Nigeria's healthcare landscape. Against the backdrop of economic challenges, the report forewarns that over-the-counter medications may become financially out of...
The Nigerian Naira faced a decline, reaching N1,170 per dollar in the parallel market on Monday, compared to N1,166 recorded last week Friday. This depreciation stirred concerns among market observers and economic analysts.
However, a contrasting narrative unfolded in the Nigerian Foreign...
Amid assurances from President Bola Ahmed Tinubu that Nigeria is open for business, a persistent forex crisis continues to cast a shadow on the country's financial stability and international reputation. Despite claims that barriers to investment have been dismantled, the ongoing struggle with...
Nigeria
Tinubu and German Chancellor Scholz Ink Agreement for Extensive Grid Expansion and Energy Overhaul with Siemens Partnership
President Bola Tinubu has inked an agreement with German Chancellor Olaf Scholz to enhance Nigeria's grid capacity and elevate electricity supply. The deal, aimed at expediting the Presidential Power Initiative (PPI), was signed during the ongoing COP28 in Dubai.
Initiated in 2019, the PPI...
Nigeria
Naira Plummets by 11.40% to N927.19/$ at Official Exchange Market Despite CBN's Stabilization Efforts
The Nigerian Naira experienced a significant 11.40% depreciation, landing at N927.19 per dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEM), the official exchange rate window.
This marks a notable drop from the previous day's rate of N832.32. FMDQ Securities Exchange data...
The Central Bank of Nigeria (CBN) has issued a circular outlining its plans to freeze accounts lacking a Bank Verification Number (BVN) or National Identification Number (NIN) starting April 2024. The announcement, detailed in a Friday circular, revealed that a BVN or NIN verification process...
The Nigerian naira faced further depreciation, reaching N1,165 per dollar in the parallel foreign exchange market on Thursday. This marks a 0.43 percent decrease compared to the N1,160 rate just two days earlier.
Currency traders, or Bureau De Change operators, quoted buying rates at N1,155 and...
The Organisation of the Petroleum Exporting Countries (OPEC) has announced that Nigeria has the potential to reach a significant oil production quota of 1.5 million barrels per day (bpd) in 2024. This disclosure came during the 36th OPEC and non-OPEC ministerial meeting held on Thursday.
As...
Nigeria
Africa's Aviation Revolution: Morocco, Nigeria, and South Africa Propel Continent to New Heights in Manufacturing, Forbes Reports
In the bustling landscape of Africa's aviation resurgence, Morocco emerges as a pivotal player, strategically positioned at the crossroads of continents. Fueled by Airbus' optimistic projection of a 3.6% annual growth in passenger traffic, Morocco's allure extends beyond its geographic...
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