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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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MultiChoice, a leading media company, has encountered significant financial challenges, reporting an after-tax loss of R911 million ($50.2 million) for the six months spanning April 1 to September 30, 2023. This marks a substantial downturn compared to the R55 million after-tax profit reported...
Nigeria
Economic Strain Deepens as Nigeria's Inflation Skyrockets to 27.33%, Prompting Concerns for Citizens
Nigeria's inflation has surged to 27.33% in October 2023, a notable uptick from the previous month's 26.72%, according to the National Bureau of Statistics (NBS). This marks the tenth consecutive rise in the country's inflation rate this year, posing significant challenges for both consumers and...
Pfizer is set to cut 500 jobs at its Sandwich, Kent site in the U.K. as part of its $3.5 billion cost-cutting plan, a response to lower-than-expected sales of its COVID-19 vaccine and treatment, leading to its first quarterly loss since 2019.
The U.S. drugmaker, with a global workforce of...
Central Bank of Nigeria (CBN) has declared that the old naira notes, initially slated for discontinuation, will now remain legal tender indefinitely. The CBN's decision to extend the legal tender status comes in the wake of concerns over cash scarcity and challenges faced by residents in...
Nigeria
Nationwide Naira Crunch: Banks Enforce Withdrawal Limits, ATMs Grind to a Halt, Igniting Economic Fears
Nigeria is grappling with a deepening crisis of Naira scarcity as major banks enforce limitations on cash withdrawals and ATMs face depletion, causing widespread concern among residents.
The scarcity is particularly impacting Lagos, Abuja, Kano, Katsina, Jigawa, Adamawa, and other regions...
Nigerian Naira showcased a notable recovery, closing at N780.14 per dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Friday. This rate reflects a remarkable 21.73% rebound from the previous week's figure of N996.
According to data from FMDQ Securities Exchange, a platform...
KPMG Nigeria's latest economic forecast signals a concerning trend as it predicts the persisting inflationary pressure in the country, with expectations that the headline inflation will soar to approximately 30% by December 2023. This projection follows the ninth consecutive rise in Nigeria's...
Aliko Dangote has revealed that the Dangote Refinery has successfully obtained a license to refine over 300,000 barrels of Nigerian crude per day, marking a significant milestone in the oil industry. In an interview during the Saudi-Nigeria business roundtable in Riyadh, Dangote emphasized the...
In the aftermath of the Central Bank of Nigeria's (CBN) recent revocation of licences from 110 microfinance banks (MFBs) and three primary mortgage banks (PMBs), the Nigeria Deposit Insurance Corporation (NDIC) has swiftly disbursed N1.39 billion to 36,163 depositors.
NDIC CEO Bello Hassan...
Nigeria
CBN Orders Staff to Disclose Family Ties and Political Links Amidst Ongoing Investigative Probe
The Central Bank of Nigeria (CBN) has issued a directive compelling its staff to declare close relatives employed by the bank and disclose connections with Politically Exposed Persons (PEPs).
The directive, outlined in a memo signed by Deputy Director Christian Eze, defines close relatives as...
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