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![Today's Naira Rate[10-07-2014]: Naira Plummets to N1,561/$ in Official Market: Lowest in Three Months](/data/attachments/205/205997-3c44473101cfdb95816e4fca0635f7db.jpg?hash=PERHMQHP25)
Nigeria
Today's Naira Rate[10-07-2014]: Naira Plummets to N1,561/$ in Official Market: Lowest in Three Months
The Nigerian naira fell to N1,561 per dollar, its lowest in three months, at the official market. The currency saw fluctuations in both parallel and official markets amid rising external reserves. The Central Bank of Nigeria allows International Oil Companies to sell 50% of repatriated export...
Tourist Company of Nigeria Plc, owner of Federal Palace Hotel, reports a staggering N31.6 billion loss in 2023, wiping out shareholder funds. Foreign exchange losses, legal disputes over loans, and rising operating costs contributed to the financial turmoil. The company, majority-owned by Sun...
Nigeria faces severe fuel shortages as petrol landing costs hit N978/liter. The government denies subsidy reinstatement despite projected allocations. Long queues and black market sales plague consumers. Experts call for collaboration between stakeholders to address the crisis. The situation...
NNPCL seeks a $2 billion oil-backed loan amid Nigeria's fuel crisis. CEO Mele Kyari claims it's for normal business, not desperation. This follows a $3.3 billion loan in 2023. The move raises concerns as fuel shortages spread nationwide, impacting daily life. Dangote Refinery faces crude supply...
![Today's Naira Rate[09-07-2014]: CBN Faces Challenge as Black Market Dollar Rate Climbs to N1520](/data/attachments/205/205953-3c44473101cfdb95816e4fca0635f7db.jpg?hash=PERHMQHP25)
Nigeria
Today's Naira Rate[09-07-2014]: CBN Faces Challenge as Black Market Dollar Rate Climbs to N1520
Discover today's black market exchange rates for USD to NGN in Lagos, where buying stands at N1520 and selling at N1530. Despite CBN efforts to regulate forex through official channels, the parallel market shows volatility, reflecting economic policies and global trends.
Today, the black market...
FAAN reveals only 3 of 22 Nigerian airports are profitable. Despite this, new airports are being developed. FAAN emphasizes economic activities drive passenger traffic, not new airports. Collaborations with international organizations aim to expand routes and create transit hubs to improve...
![Today's Naira Rate[08-07-2014]: High Dollar Demand Drives Naira to N1,530 on Black Market](/data/attachments/205/205913-147ab142f8cf48479284e57b3d23fc38.jpg?hash=FHqxQvjPSE)
The naira hit a three-month low of N1,530 per dollar on the parallel market, driven by high demand from travelers and importers. Meanwhile, the official market saw a slight gain, closing at N1,509.67 per dollar.
The naira fell to a three-month low of N1,530 per dollar on the parallel market on...
Billionaire Tony Elumelu revealed he doesn't consider himself talented but credits his success to surrounding himself with talented individuals. He emphasizes the importance of recognizing one's limitations and leveraging the strengths of others to achieve success.
Billionaire Tony Elumelu...
Fuel scarcity grips Nigeria as depots hike petrol prices to ₦720/litre, causing stations to shut down amid supply fears. Nigerians criticize the NNPC's handling of the crisis.
Fuel scarcity looms across Nigeria as private depots raise petrol prices to ₦720 per litre, prompting concerns over...
New tax regulations in Nigeria, effective October 1, 2024, exempt winnings from games and reality shows promoting innovation and education from withholding tax. This move aims to stimulate national development in key sectors.
The Federal Ministry of Finance in Nigeria has announced new tax...
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