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![Today's Naira Rate[16-11-2024]: Nigerian Naira Faces Steep Decline, Parallel Market Hits N1,750/$](/data/attachments/210/210283-5e995ef978efd380c57591c54b3dddf2.jpg?hash=FHqxQvjPSE)
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Everything You Need to Know About the NDDC Youth Internship SchemeI want to apply
- akeri akpokabowei
Amidst concerns over the Nigerian currency's volatility, the naira experienced a positive turn at the official forex window, strengthening by 1.09% to close at 1,419.86/$, following reassurances from the Central Bank of Nigeria Governor, Olayemi Cardoso.
Last week saw the naira hitting an...
Nigeria
CBN Governor Olayemi Cardoso Reveals How Tough Reforms are Shaping Nigeria's Financial Future
In an exclusive interview with ARISE NEWS, the Governor of the Central Bank of Nigeria (CBN), Dr. Olayemi Cardoso, unveiled crucial policies and reforms aimed at strengthening the nation's economic landscape.
Cardoso addressed the $7 billion outstanding foreign exchange liabilities of the...
Nigeria
FAAN: Nigerians Demand Answers Following Brief Blackout at Murtala Muhammed International Airport
The Murtala Muhammed International Airport (MMIA) in Lagos found itself plunged into darkness for a brief period, as the Federal Airports Authority of Nigeria (FAAN) confirmed challenges during an automatic switchover process. The incident, which occurred on February 2nd, 2024, lasted for...
Nigeria
CBN Enforces Stricter Regulations, Bars Banks and Fintechs from International Money Transfers
The Central Bank of Nigeria (CBN) has announced the prohibition of banks and financial technology companies (fintechs) from offering international money transfer services. This development, outlined in the revised guidelines for the operations of International Money Transfer Operators (IMTOs)...
Nigeria
CBN's 43% Import Duty Rate Surge Sparks Economic Concerns: Impact on Businesses, Trade, and Economy
The Central Bank of Nigeria (CBN) has given the green light to a substantial 43 percent increase in import duty rates, sending shockwaves through the nation's business community. This decision, unveiled on Friday, caught importers and trading stakeholders off guard, as the exchange rate for duty...
French TV channel Canal+ Group has officially expressed its intent to acquire all shares of South Africa's MultiChoice for an impressive $1.69 billion. Canal+, a significant shareholder with a 31.67 percent stake, aims to offer 105 rand in cash per share, signaling a remarkable 40 percent...
The exchange rate between the Nigerian Naira and the US Dollar has plummeted to unprecedented levels, reaching around N1,515/$1 in the black market, as reported by various sources. The volatility in the parallel market, coupled with disparate pricing, continues to dominate financial headlines...
…Minister lauds Cement Plant’s promotion of best practices
The Federal Government has commended the leading roles being played by the Dangote Group to complement government’s efforts to diversify the nation’s economy and the company’s dedication to promotion of best practices in all its...
The Central Bank of Nigeria (CBN) has enacted stringent measures to bolster liquidity in the foreign exchange market, instructing banks to limit their Net Open Position (NOP) of foreign currency assets and liabilities to 20% of shareholders' funds.
The directive, issued through a CBN circular...
FBN Holdings has appointed billionaire businessman Femi Otedola as the new Chairman of its Board of Directors, succeeding Ahmad Abdullahi. The announcement, filed with the Nigerian Exchange Limited, follows Otedola's earlier appointment as a Non-Executive Director in August 2023, ratified by...
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