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![Today's Naira Rate[15-10-2024]: Nigeria’s Naira Rises to N1,680 Against Dollar as Official Market Faces Liquidity Crisis](/data/attachments/209/209193-22a7577a1b80631927012b1ac3bdd106.jpg?hash=PERHMQHP25)
Nigeria
Today's Naira Rate[15-10-2024]: Nigeria’s Naira Rises to N1,680 Against Dollar as Official Market Faces Liquidity Crisis
On October 14, 2024, Nigeria’s Naira appreciated by N10 to N1,680 against the US dollar in the parallel market. In the official NAFEM, it reached N1,552.92, a gain of N88.35. However, dollar turnover in the official market dropped 44%, raising concerns about liquidity and market stability.
The...
Nigeria's government plans tax reforms targeting higher earners, with those earning over ₦1.5 million monthly facing up to 25% personal income tax. Taiwo Oyedele, chairman of the tax reform committee, announced changes aimed at fairness, reducing taxes for lower incomes, and promoting small...
The price of cooking gas in Nigeria has soared to N1,500/kg, significantly impacting consumers. Managing Director of NIPCO Plc, Suresh Kumar, highlighted the need for increased local production and urged the government to encourage companies to convert propane to butane. Domestic refineries may...
Nigerians are struggling as electricity bills consume over 57% of the newly increased minimum wage of N70,000. The recent 300% tariff hike by the Nigerian Electricity Regulatory Commission has led to widespread discontent among citizens, undermining the wage increase and exacerbating financial...
Air Peace Limited assures customers that justice will be served following new allegations against CEO Allen Onyema and CFO Ejiroghene Eghagha. The company emphasizes both leaders' innocence and reassures that ongoing legal proceedings will not disrupt operations or affect its commitment to...
U.S. authorities have intensified fraud charges against Allen Onyema, CEO of Air Peace, related to a $20 million bank fraud scheme. Onyema is accused of submitting false documents to obstruct justice. He remains a fugitive alongside co-defendant Ejiroghene Eghagha, evading trial since 2019.
The...
![Today's Naira Rate[12-10-2024]:Nigerian Naira Struggles as Current Black Market Exchange Rate Reaches N1,695](/data/attachments/209/209108-88c9e38869c8f981977c2a6964f251a1.jpg?hash=PERHMQHP25)
Nigeria
Today's Naira Rate[12-10-2024]:Nigerian Naira Struggles as Current Black Market Exchange Rate Reaches N1,695
As of October 12, 2024, the black market exchange rate for the US dollar to the Nigerian naira is N1,695 for buying and N1,700 for selling in Lagos. The Central Bank of Nigeria’s official rates remain significantly lower, highlighting ongoing economic challenges and currency volatility in...
Nigerian banks are set to experience service interruptions as they upgrade their core banking systems for improved security and cost-efficiency. Experts urge better communication with customers to mitigate disruptions during this transition, which is compounded by rising operational costs and...
The Nigerian Communications Commission (NCC) has completed linking all mobile phone numbers to national identification numbers (NIN). This initiative enhances accountability in tracing phone numbers linked to fraudulent activities. The NCC also plans to collaborate with the Central Bank of...
The Nigerian government is seeking the arrest of Hathiramani Ranesh, managing director of Dana Air, over alleged involvement in a ₦1.3 billion fraud. Ranesh's absence from court prompted the federal attorney-general to request a bench warrant, as he faces multiple charges related to conspiracy...
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