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Abdul Samad Rabiu, chairman of BUA Cement, revealed that plans to reduce cement prices to N3,500 were thwarted by dealers' actions, leading to sales at inflated rates. He cited naira devaluation and fuel subsidy removal as challenges, yet ensured prices remain more stable compared to last year...
The Nigerian National Petroleum Company (NNPC) seeks reputable operations and maintenance companies to manage Warri and Kaduna refineries. The initiative, aiming for efficiency and sustainability, involves a three-stage tender process, with financial requirements including a minimum turnover of...
Telegram founder Pavel Durov faces criminal charges in France, accused of allowing illegal activities on his messaging app. Detained at a Paris airport, Durov is barred from leaving France and must comply with strict bail conditions. The case has sparked controversy, particularly in Russia...
Ethiopian Airlines CEO Mesfin Tasew blames politics for the failure of Nigeria Air. Despite plans to establish a profitable national carrier in partnership with the Nigerian government, the project was halted due to opposition from local airlines and the change in government. Ethiopian Airlines...
![Today's Naira Rate[28-08-2024]: Naira Continues Decline, Black Market Dollar Rate Reaches ₦1,605 Today](/data/attachments/207/207709-c7c73d7caf96c48d419438aead43e427.jpg?hash=PERHMQHP25)
Nigeria
Today's Naira Rate[28-08-2024]: Naira Continues Decline, Black Market Dollar Rate Reaches ₦1,605 Today
The black market exchange rate for the U.S. dollar to the Nigerian naira is ₦1,605 for buying and ₦1,615 for selling as of August 28, 2024. This rate highlights the naira's depreciation against the dollar, exacerbating economic challenges in Nigeria amidst ongoing forex market volatility.
As of...
![Today's Naira Rate[28-08-2024]: Naira Continues Decline, Black Market Dollar Rate Reaches ₦1,605 Today](/data/attachments/207/207708-ae57b27e1dd4fda0ec2c2ca1a0a00e0f.jpg?hash=PERHMQHP25)
Nigeria
Today's Naira Rate[28-08-2024]: Naira Continues Decline, Black Market Dollar Rate Reaches ₦1,605 Today
The black market exchange rate for the U.S. dollar to the Nigerian naira is ₦1,605 for buying and ₦1,615 for selling as of August 28, 2024. This rate highlights the naira's depreciation against the dollar, exacerbating economic challenges in Nigeria amidst ongoing forex market volatility.
As of...
The Nigerian Communications Commission (NCC) has extended the SIM-NIN linkage deadline to September 14, 2024, with 153 million SIMs already linked to National Identity Numbers. The extension provides additional time for Nigerians to comply, aiming to enhance digital identity management and...
AMCON plans to sell the Ibadan Electricity Distribution Company (IBEDC) to financially strong investors to enhance its efficiency and improve Nigeria's power sector. The sale follows AMCON's 2022 takeover due to insolvency. The move aims to attract investors capable of significant financial...
Africa
South Africa's Johann Rupert Surpasses Dangote as Africa's Wealthiest, Now Worth $14.3 Billion
South African billionaire Johann Rupert has overtaken Aliko Dangote as Africa’s richest person, with a net worth of $14.3 billion compared to Dangote’s $13.4 billion. Rupert's wealth surged due to favorable market conditions, while Dangote's fortune declined amid Nigeria's economic challenges...
President Tinubu appoints Mr. Adeola Ajayi as the new DSS Director-General. Ajayi, a seasoned intelligence officer with 30+ years of service, has led security operations in key Nigerian states. He is trained in management, security leadership, and critical thinking, bringing extensive experience...
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