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The World Bank has criticized the Central Bank of Nigeria's interest rate hikes, stating they may not curb inflation effectively. The report suggests Nigeria needs a balanced approach, combining monetary and fiscal policies, to address inflation driven by supply-side factors and structural...
President Bola Tinubu has appointed Tanimu Yakubu as the new Director-General of the Budget Office of the Federation, succeeding Ben Akabueze. Yakubu, an accomplished economist with extensive experience in finance and economic planning, is expected to enhance fiscal sustainability and...
Meta, the tech giant behind Facebook, Instagram, and WhatsApp, is reducing its office space in Lagos, Nigeria, in response to global layoffs that affected its local team, including the entire engineering workforce.
Meta, the parent company of Facebook, Instagram, and WhatsApp, is set to reduce...
BlackRock's iShares ETF, worth $400 million, announced plans to liquidate its investments in Nigeria and Kenya due to challenges with currency repatriation and the naira devaluation, dealing a blow to Nigeria's economic prospects.
BlackRock, one of the world's largest asset managers, has...
Aliko Dangote, Africa's wealthiest individual, accuses local and international mafias of hindering his $19 billion refinery project. Despite repaying $2.4 billion of loans, challenges like crude oil supply disruptions persist.
In a speech at the Afreximbank annual meetings, Aliko Dangote...
NDIC lists Heritage Bank's head office and branches for sale nationwide following its license revocation. Bids open for 48 properties and chattels across 62 locations.
The Nigeria Deposit Insurance Corporation (NDIC) has commenced the sale of Heritage Bank's assets following the bank's license...
Multichoice Group reports a 9% decline in active DStv subscribers, citing economic challenges in Nigeria and across Africa. Factors include currency devaluation and inflation. The company faces regulatory hurdles, including fines, amid price increases and cost-saving measures.
Multichoice...
Amid rising unemployment rates, Nigeria's National Pension Commission approved the disbursement of N14.2 billion to 8,651 individuals who experienced temporary job loss in the first quarter of 2024.
The National Pension Commission (PenCom) has approved the disbursement of N14.2 billion to 8,651...
Ram prices surge in Lagos ahead of Eid-El-Kabir as large rams hit N750,000, more than doubling last year's rates. Sellers struggle with sluggish sales amidst Nigeria's economic challenges, while buyers face affordability concerns with medium-sized rams ranging from N350,000 to N400,000.
Ram...
![Today's Naira Rate[11-06-2014]: Naira Clings Below N1,500/$ Amidst U.S. Interest Rate Speculations](/data/attachments/204/204946-147ab142f8cf48479284e57b3d23fc38.jpg?hash=FHqxQvjPSE)
Nigeria
Today's Naira Rate[11-06-2014]: Naira Clings Below N1,500/$ Amidst U.S. Interest Rate Speculations
The naira stands firm below N1,500/$ amidst U.S. interest rate decision anticipation. Stay informed with updates on Nigerian currency trends and global market insights.
The Nigerian naira demonstrated resilience against the U.S. dollar, with the dollar index moderating as investors awaited...
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