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![Today's Naira Rate [31-01-2025]: CBN Interventions Boost Naira as Exchange Rate Improves to N1,493/$](/data/attachments/212/212954-58e780ec025feefde8bfa331a3d70815.jpg?hash=PERHMQHP25)
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Everything You Need to Know About the NDDC Youth Internship SchemeI want to apply
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![Today's Naira Rate[19-10-2024]: Naira Rises to N1600.78 as FX Market Sees Boost in Transactions](/data/attachments/209/209315-dbd145b491c796d77429639c6ae6f1ae.jpg?hash=hFfFcRmkeL)
Nigeria
Today's Naira Rate[19-10-2024]: Naira Rises to N1600.78 as FX Market Sees Boost in Transactions
The naira appreciated significantly, gaining N59.71 against the dollar to close at N1600.78 on Friday after several days of depreciation. Foreign exchange transactions increased to $350.72 million, while the parallel market rate fell slightly to N1725 per dollar, reflecting ongoing volatility in...
Nigeria's Finance Minister, Wale Edun, confirmed the removal of fuel and foreign exchange subsidies, citing financial strain on the economy. The government plans to address unemployment through a new housing finance initiative, while inflation soars to 32.70%. Critics highlight the adverse...
The World Bank asserts that President Bola Tinubu’s reforms aim to prevent Nigeria from economic collapse amid rising inflation. With over 129 million Nigerians living in poverty, the bank emphasizes the need for corrective measures to stabilize the economy and improve the purchasing power of...
Jumia is closing operations in South Africa and Tunisia to concentrate on profitable markets, especially Nigeria. CEO Francis Dufay states this shift will help the company streamline costs and strengthen its core e-commerce offerings across regions with greater growth potential, like Egypt...
Aliko Dangote, the president of the Dangote Group, has reached a significant milestone, now ranking as the 65th richest person globally, with a net worth of $28 billion. This achievement follows the successful launch of his expansive Petrochemical refinery, which has proven to be a game changer...
![Today's Naira Rate[17-10-2024]:Naira Depreciates Further to ₦1,705 Against the Dollar in Black Market](/data/attachments/209/209264-75239364762d3e0f4a7e85481c4aa046.jpg?hash=PERHMQHP25)
Nigeria
Today's Naira Rate[17-10-2024]:Naira Depreciates Further to ₦1,705 Against the Dollar in Black Market
The naira’s value has dropped to ₦1,705 per dollar in the parallel market, reflecting a continued decline due to high demand for U.S. dollars and limited foreign exchange inflows. This latest depreciation highlights the naira's vulnerability amidst Nigeria’s foreign exchange challenges.
The...
Deji Adeleke, the father of Nigerian artist Davido, revealed that his company, Pacific Energy, generates 15% of Nigeria’s electricity. During the Seventh-Day Adventist Church's General Conference, he announced plans for Nigeria's largest thermal power plant, set to launch in January 2025, with a...
Finance Minister Wale Edun acknowledged the pain of recent economic reforms in Nigeria but emphasized their necessity for growth. Key changes include subsidy removal and foreign exchange market unification, resulting in doubled revenue. Initiatives such as the Nigeria Education Loan Fund aim to...
Following GTBank’s system upgrade, Lagos customers have faced challenges accessing accounts and completing transactions. Despite assurances, customers report ongoing issues with digital banking and ATM services. The bank extended branch hours and apologized for the inconvenience, ensuring that...
Adedeji Adeleke, the father of music star Davido, shared his experience securing a $2 billion environmental permit for Nigeria’s largest power plant. Facing obstacles from uncooperative officials, he turned to prayer and strategic partnerships, ultimately gaining approval for the 1,250-megawatt...
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