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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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The Central Bank of Nigeria (CBN) has announced the sale of US dollars to eligible Bureau de Change (BDC) operators at a rate of N1,590 per dollar, aiming to enhance liquidity for invisible transactions. Each BDC can purchase $20,000 to meet market demands.
The Central Bank of Nigeria (CBN) has...
Nigeria's recent interest rate hike to 27.25% aims to curb inflation and stabilize the naira but poses challenges for businesses. The increased borrowing costs could reduce expansion and raise unemployment. Meanwhile, FX inflows may rise, stabilizing the naira, and savers benefit from higher...
![Today's Naira Rate[25-09-2024]: Naira Depreciates to N1,658.48 as CBN Raises Interest Rates for Fifth Time in 2024](/data/attachments/208/208624-4803cd99f027345ad0bd4f909c6fbdcc.jpg?hash=PERHMQHP25)
Nigeria
Today's Naira Rate[25-09-2024]: Naira Depreciates to N1,658.48 as CBN Raises Interest Rates for Fifth Time in 2024
The naira fell by N95.83 to N1,658.48 against the dollar after the Central Bank of Nigeria's rate hike. Increased dollar supply saw market activity surge by 66%. The CBN raised interest rates to 27.25% to stabilize the currency amid growing inflation and monetary supply concerns.
The naira...
The Central Bank of Nigeria (CBN) will penalize banks that fail to dispense cash via ATMs, aiming to ensure sufficient cash availability. CBN Governor Yemi Cardoso announced a monitoring system for compliance and plans to release an additional N1.4 trillion into circulation over the next three...
The Central Bank of Nigeria (CBN) predicts that Dangote Refinery's petrol supply will reduce transportation costs and ease food inflation. The CBN has raised the Monetary Policy Rate to tackle rising inflation, which currently stands at 32.15%, driven by increasing food prices and energy costs...
The Central Bank of Nigeria (CBN) has raised its Monetary Policy Rate from 26.75% to 27.25% to control rising inflation. CBN Governor Olayemi Cardoso announced this decision after the Monetary Policy Committee’s 297th meeting. The increase is aimed at stabilizing the economy by curbing...
Aliko Dangote, Africa’s richest man, criticized the EFCC's recent raid on his company, claiming it aimed to embarrass the Dangote Group. Despite ongoing investigations into forex allocations, Dangote maintains his company's operations are transparent and compliant with regulations, asserting it...
Nigeria
Nigerian Oil Marketers Anticipate Petrol Price Drop with Direct Lifting from Dangote Refinery
Oil marketers in Nigeria assure that petrol prices will drop once direct lifting from Dangote Refinery begins. Following a recent price surge, stakeholders like IPMAN emphasize the need for independent distribution to eliminate price disparities and foster competition, promising more affordable...
Aliko Dangote, Africa’s wealthiest man, has announced he will not purchase Arsenal for $4 billion, citing financial impracticality. In a Bloomberg interview, he emphasized his commitment to completing his $20 billion refinery project over acquiring the football club, expressing continued loyalty...
Aliko Dangote urges the Nigerian government to remove the unsustainable petrol subsidy, citing its financial strain. He emphasized transparency in fuel consumption through his refinery and criticized current fuel pricing. Nigerians expressed mixed reactions, questioning the subsidy’s existence...
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