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![Today's Naira Rate [31-01-2025]: CBN Interventions Boost Naira as Exchange Rate Improves to N1,493/$](/data/attachments/212/212954-58e780ec025feefde8bfa331a3d70815.jpg?hash=PERHMQHP25)
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As fuel scarcity intensifies across Nigeria, the Independent Petroleum Marketers Association of Nigeria (IPMAN) has escalated tensions by threatening to disrupt the supply of Premium Motor Spirit (PMS), commonly known as petrol. The catalyst for this drastic action is the alleged non-payment of...
A resurgence of petrol scarcity has engulfed various states in Nigeria, accompanied by long queues at petrol stations, crowded bus stops, and escalated traffic woes. Frustrated residents, facing soaring petrol prices approaching N2000 per liter, are resorting to purchasing fuel in jerrycans...
MTN Nigeria Communications Plc has announced its second consecutive loss, reporting a loss after tax of N392.7 billion for the first quarter of 2024. Despite a significant 32.0 percent increase in service revenue to N747.3 billion year-on-year, the telecom giant faced challenges that led to its...
![Today's Naira Rate [29-04-2024]: Naira Weakens Further: BDC Operators Face Challenges as Dollar Hits N1,350](/data/attachments/203/203446-6e202405f2f497d63440ce71bc64dc98.jpg?hash=biAkBfL0l9)
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Today's Naira Rate [29-04-2024]: Naira Weakens Further: BDC Operators Face Challenges as Dollar Hits N1,350
Amidst ongoing economic uncertainties, the Nigerian naira witnessed a further depreciation against the US dollar, reaching N1,350 per dollar at the parallel segment of the foreign exchange (FX) market on Monday. This marked a 2.27 percent decline from the rate of N1,320/$ recorded on April 26...
The Central Bank of Nigeria (CBN) has taken a decisive step to curb alleged cryptocurrency-related activities by imposing a ban on several microfinance banks, including Moniepoint, Opay, and Kuda, preventing them from opening new accounts and accepting new customers.
Sources familiar with the...
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has issued a grim projection, stating that the ongoing fuel scarcity plaguing the nation may persist for at least two more weeks. Despite assurances from the Nigerian National Petroleum Company Limited (NNPCL) regarding adequate...
Fuel scarcity continues to worsen across various regions of Nigeria, including Lagos, Ogun State, and Abuja, despite claims by the Nigerian National Petroleum Corporation (NNPC) Limited that all issues have been resolved. Reports from Nairametrics reveal that petrol prices have soared to as high...
In the past week, the Naira experienced a drastic 23% depreciation against the dollar, attributed to a surge in demand for dollars in the parallel market driven by both banks and end-users, combined with slow forex disbursement to BDCs by the Central Bank of Nigeria (CBN).
This decline marks...
With the global billionaire population reaching new heights, Forbes has identified ten cities where these ultra-wealthy individuals are most concentrated. According to Forbes’ latest World’s Billionaires list, these cities host a significant portion of the world's billionaire population...
Amidst fluctuations in Nigeria's foreign exchange market, the Naira has displayed a remarkable recovery against the US dollar, appreciating to N1280/$1 in the parallel market. This surge, representing an 8.57% gain from the previous day's N1,400, has left currency traders cautiously optimistic...
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