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![Today's Naira Rate[18-09-2024]: Naira Gains to N1,539.65 as Dollar Supply Surges, Boosting FX Market](/data/attachments/208/208398-6b420ca64d95293fadcf9548ce69b3bb.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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Nigeria NDIC Reveals BVN Discrepancies Delaying Heritage Bank Customer PayoutsIt's information is clear and prompt.
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Nigeria CBN’s 27.25% Interest Rate Hike: How It Affects Inflation, SMEs, and the Naira
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...
Nigeria
First Bank Appoints Olusegun Alebiosu as Acting CEO Following Resignation of Dr. Adesola Adeduntan
Following the recent resignation of Dr. Adesola Adeduntan, First Bank of Nigeria Limited (FirstBank) has announced the appointment of Mr. Olusegun Alebiosu as its acting Chief Executive Officer. With a distinguished career spanning over three decades in the banking and financial services...
In an era defined by economic dynamism, Africa emerges as a continent of burgeoning growth and opportunity. According to the latest report from the African Development Bank titled Macroeconomic Performance and Outlook (MEO), the top 10 fastest-growing economies in Africa for 2024 paint a...
The frustration among Nigerian bank customers is palpable as the specter of "temporarily unable to dispense cash" haunts Automated Teller Machines (ATMs) across the nation. With an increasing number of empty ATMs, a wave of allegations has emerged, accusing Deposit Money Banks (DMBs) of...
![Today's Naira Rate [21-04-2024]: Fluctuating Naira Sparks Worries Among Nigerians as Exchange Rate Hits ₦1,200/$](/data/attachments/203/203123-8457c57119a478bc5717b11aa4a694ef.jpg?hash=hFfFcRmkeL)
Nigeria
Today's Naira Rate [21-04-2024]: Fluctuating Naira Sparks Worries Among Nigerians as Exchange Rate Hits ₦1,200/$
The Nigerian currency, the Naira, appears to be facing another depreciation period, as observed by some social media users. Concerns about the stability of the currency are expressed, with one user noting a decrease and another lamenting the continual rise.
One user highlights a sense of...
During a joint press conference at the spring meetings of the International Monetary Fund (IMF) and the World Bank in Washington D.C., Finance Minister Wale Edun revealed that Nigeria has qualified for a $2.25 billion loan from the World Bank, described as "virtually a grant" due to its...
Yemi Cardoso, the Governor of the Central Bank of Nigeria (CBN), highlighted the success of the apex bank's foreign exchange (FX) reforms, asserting that they have propelled the naira to become the best-performing currency worldwide.
Speaking during a briefing at the World Bank/IMF Spring...
Adesola Adeduntan, the managing director and CEO of First Bank of Nigeria Ltd, has announced his resignation, effective April 20, 2024, ahead of the scheduled end of his tenure on December 31, 2024.
In a letter addressed to Tunde Hassan-Odukale, the bank's board chairman, Adeduntan expressed...
Nigeria
Nigerian Bitcoin Fans Respond to JP Morgan CEO's Dismissal of Cryptocurrency as a Ponzi Scheme
Image Credit: Financial Times
Jamie Dimon, CEO of JP Morgan Chase, has reignited the debate on cryptocurrency by labeling Bitcoin as a Ponzi scheme, sparking uproar in the financial and crypto communities. Dimon's criticism stems from his belief that Bitcoin lacks intrinsic value and cannot...
The federal government, represented by Wale Edun, Minister of Finance and Coordinating Minister of the Economy, has declared its commitment to employ strategic measures to address the issue of excessive liquidity in the system, aiming to mitigate inflationary pressures.
Edun made this...
Nigeria
Naira Appreciation, Price Hikes: Analysts Decode Disconnect Between Exchange Rates and Consumer Costs
Despite the recent surge in the Nigerian Naira against major foreign currencies, prices of goods and services continue to soar, defying expectations of a downward trend. While the Naira gained significant ground against the US Dollar, reaching N1,060 per Dollar compared to a peak of N1,900 in...
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