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![Today's Naira Rate[16-11-2024]: Nigerian Naira Faces Steep Decline, Parallel Market Hits N1,750/$](/data/attachments/210/210283-5e995ef978efd380c57591c54b3dddf2.jpg?hash=FHqxQvjPSE)
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Everything You Need to Know About the NDDC Youth Internship SchemeI want to apply
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Cardinal Stone Capital has completed a successful exit by selling its stake in i-Fitness, the country's leading fitness and gym chain, to Verod Capital Management. The deal, valued at $12 million, marks a complete exit for Cardinal Stone, which initially invested in...
![[Video] Nigerian Banks and Binance Under Fire, Accused of Economic Criminality](/data/attachments/201/201186-51cbb0048afe3330f97efb789f4188ea.jpg?hash=UcuwBIr-Mz)
Ayo Oyalowo, on Channels TV, asserted that the government should oust "criminals" managing certain banks to address the Naira's decline.
He emphasized restructuring banks before targeting Bureau de Change operators (BDCs), implying that banks, allegedly hoarding dollars, contribute to the...
The Nigerian naira continues its alarming decline, reaching an unprecedented N1,825 against the dollar despite the Economic Financial Crimes Commission's (EFCC) efforts to curb manipulative practices.
The agency's recent raid on Abuja Zone 4 market, where gunfire was employed to halt the...
PZ Cussons Nigeria Plc has announced an extraordinary general meeting scheduled for March 30th in Abuja, addressing concerns over its negative net asset position as of the end of Q2, 2023/2024.
The company's unaudited financial results reveal a staggering after-tax loss of N74.14 billion...
Nigeria
Brewing Woes: Heineken's Nigerian Operations Hit Hardest Downturn in Company's History, CEO Reveals
In an investor call on Monday, Hans Essaadi, CEO of Nigerian Breweries Plc, the Nigerian unit of Heineken NV, delivered grim news, declaring that the company is currently facing its worst downturn in the history of operations in Nigeria. Essaadi attributed the challenges to a significant decline...
The Nigerian Naira plummeted to unprecedented depths on Monday, hitting N1,700 against the US Dollar and N2,100 against the Pound Sterling. These alarming figures mark a historic low for Nigeria's currency, painting a bleak picture of the nation's economic stability, particularly under the...
Nigeria
Nigeria in Crisis: President Tinubu Faces Backlash as Spaghetti Hits N950, Eggs at N300, Sparking Nationwide Strike
Since President Bola Tinubu assumed office on May 29, 2023, a bleak economic landscape has unfolded for Nigerians, with his policies seemingly deepening their financial woes.
The National Bureau of Statistics (NBS) recently reported a staggering 29.90% inflation rate in January 2024, shedding...
Nigeria
BUA Group Chairman Abdul Samad Rabiu Implements 50% Salary Increase for All Staff Amidst Economic Hardship
In a significant departure from conventional norms, Abdul Samad Rabiu, Chairman of BUA Group, has announced a groundbreaking decision to increase salaries by 50% for all staff members. The revelation came through an internal memo signed by Mr. Mohammed Wali, BUA’s Head of Human Resources...
After Elon Musk's takeover, Twitter has finally paid severance to its former African team based in Accra, according to their lawyer, Carla Olympio. The team faced layoffs, and severance offers were reportedly extended only after CNN brought attention to the situation.
Olympio emphasized the...
In a stark contrast to its 2022 financials, Nigerian Breweries Plc has reported a staggering net loss of N106 billion for the fiscal year 2023, marking an alarming 860 percent increase in losses.
The audited financial results, disclosed by Company Secretary Uaboi Agbebaku, unveil a challenging...
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