cbn
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Nigeria Economic Pressures Lead to Major Reduction in Nigeria’s Foreign Education Forex Spending
Nigerians spent $38.17 million on foreign education in Q1 2024, an 83% drop from 2023, per CBN data. Factors include economic challenges and new forex regulations. Despite this, Q1 2024 saw a 54% increase from Q4 2023. Stringent measures on forex purchases for education and medical expenses are...- Nigeria News
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- 2 min read
- cbn central bank of nigeria foreign education expenses nigeria forex utilization
- Category: Business
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Nigeria CBN to Invest Unclaimed Funds in Treasury Bills and Government Securities
The Central Bank of Nigeria (CBN) will invest unclaimed balances in Treasury Bills and government securities. The newly released guidelines mandate timely refunds to beneficiaries and define eligible accounts. The CBN will maintain a dedicated trust fund and publish lists of unclaimed balances...- Nigeria News
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- 2 min read
- cbn yemi cardoso
- Category: Metro
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Nigeria Business Titan Dangote Challenges CBN Policy, Warns of Economic Stagnation
Aliko Dangote criticizes CBN's 26.25% interest rate hike at MAN summit, arguing it hinders business growth and job creation. He calls for government support of manufacturers to address economic challenges. MAN reports significant sector exits, highlighting the need for policy reforms to boost...- Nigeria News
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- aliko dangote cbn
- Category: Business
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![Today's Naira Rate[11-06-2014]: Naira Clings Below N1,500/$ 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...- Nigeria News
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- 1 min read
- cbn foreign exchange naira u.s. inflation u.s. interest rate
- Category: Business
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Nigeria Ex-CBN Director Testifies: Emefiele Printed Different Naira Design Without Approval
Former CBN governor Godwin Emefiele allegedly printed a different design of the new naira note without approval, as testified by ex-CBN director Ahmed Umar. Discrepancies include missing features like QR codes and portrait placement differences. Former CBN governor Godwin Emefiele allegedly...- Nigeria News
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- ahmed umar cbn currency printing godwin emefiele naira design
- Category: Metro
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Nigeria CBN Dispels Rumors, Affirms No License Revocations for Four Major Banks
The Central Bank of Nigeria has confirmed there are no plans to revoke the licenses of Fidelity, Wema, Polaris, and Unity Banks. The CBN reassures the public of the banking system's resilience and safety of deposits, despite recent rumors and the revocation of Heritage Bank's license. The...- Nigeria News
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- banking license cbn central bank of nigeria fidelity bank nigerian banking industry polaris bank unity bank wema bank
- Category: Business
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Nigeria "My N100m Is There" - BBNaija Star Mercy Eke Cries Out as Massive Savings Stuck in Troubled Heritage Bank
Mercy Eke, Big Brother Naija star, reveals having over N100m in Heritage Bank, sparking concerns after CBN revokes bank's license. Reactions range from empathy to skepticism amid debates on banking stability. Reality TV star Mercy Eke has sparked concerns among her fans after revealing that she...- Nigeria News
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- 2 min read
- bbnaija star cbn heritage bank mercy eke
- Category: Entertainment
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![Today's Naira Rate [04-06-2024]: Naira Struggles, Nears N2,000 Against British Pound and 1,500 Against Dollar](/data/attachments/204/204640-8457c57119a478bc5717b11aa4a694ef.jpg?hash=hFfFcRmkeL)
Nigeria Today's Naira Rate [04-06-2024]: Naira Struggles, Nears N2,000 Against British Pound and 1,500 Against Dollar
The Nigerian Naira struggles, nearing N2,000 per British Pound and 1,500 per US Dollar, amid speculation and economic challenges. Despite $575 million in CBN dollar sales, the Naira remains weak. Global market movements and local economic policies continue to pressure Nigeria's currency...- Nigeria News
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- cbn central bank of nigeria forex market naira rate nigerian economy todays exchange rate
- Category: Business
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Nigeria First Bank Fights to Salvage N400bn Loan Amid Heritage Bank's Collapse
Heritage Bank's collapse leaves First Bank facing a potential N400 billion loan loss. With 90% of Heritage Bank's loans classified as lost or doubtful, the CBN revoked its license. Depositors face uncertainty as First Bank scrambles to recover the loan, sending shockwaves through the Nigerian...- Nigeria News
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- cbn central bank of nigeria first bank loan recovery heritage bank collapse nigerian banking sector non-performing loans
- Category: Business
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Nigeria CBN Governor Cardoso's Shock Move: 25 Directors Fired in Controversial Overhaul
CBN Governor Cardoso fires 25 of 29 directors in major shakeup, sparking debates on reform and allegations of tribalism. In a shocking move, the newly appointed Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has fired 25 out of the 29 directors he inherited upon assuming...- Nigeria News
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- cbn cbn governor directors fired olayemi cardoso
- Category: Business
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![Today's Naira Rate [03-06-2024]: Nigerian Naira Finds Stability Against US Dollar at ₦1,481](/data/attachments/204/204592-3a29b4a29d5e5b1673114554a0c523ee.jpg?hash=Oim0op1eWx)
Nigeria Today's Naira Rate [03-06-2024]: Nigerian Naira Finds Stability Against US Dollar at ₦1,481
Stay updated on the latest shift in Nigeria's Naira-Dollar dynamics. June 3rd, 2024, marks a potential game-changer with the Naira stabilizing against the US Dollar at ₦1,481 in the black market. The Nigerian Naira and the US Dollar's relationship has often been tumultuous, but June brings a...- Nigeria News
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- british pound cbn exchange rate naira to dollar rate today nigerian naira todays exchange rate us dollar
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Nigeria Apprehension as CBN Revokes Heritage Bank License Amid Financial Struggles
Heritage Bank's license was revoked by CBN following NDIC visit, citing financial regulation breaches. Exclusive report reveals bank's struggles and impending takeover. Concerns over Nigeria's banking sector stability grow. In a decisive move, the Central Bank of Nigeria (CBN) has revoked the...- Nigeria News
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- 2 min read
- banking license cbn central bank of nigeria heritage bank ndic
- Category: Business
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Nigeria Aviation Industry Gets Boost as Nigeria Resolves $850M FX Backlog
Nigeria resolves 98% of $850 million FX backlog owed to international airlines, signaling progress amid FX market instability. Nigeria has made significant progress in addressing its foreign exchange (FX) backlog owed to international airline operators, settling 98% of the $850 million owed...- Nigeria News
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- cbn foreign exchange backlog iata international airlines nigeria
- Category: Business
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Nigeria Businesses Brace for Impact as Tax Panel Recommends N800/$ Import Rate
Nigerian tax reform committee proposes a fixed N800 per dollar rate for customs import duties, sparking concerns over potential economic disruptions and higher costs for businesses and consumers. The presidential committee on fiscal policy and tax reforms has sent shockwaves through Nigeria's...- Nigeria News
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- cbn central bank of nigeria import duty rates taiwo oyedele
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Business Full List: CBN Sacks Top Directors, Over 300 Staff, Gives Reasons - Legit.ng
https://www.legit.ng/business-economy/money/1594168-cbn-releases-names-top-sack-directors-positions-clean-continues/- Kayode Israel
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- cbn legit nigeria news naija news nigeria news
- Replies: 0
- Forum: Business News Links
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Nigeria CBN Implements Stricter Regulations: BDC Operators Must Reapply for Licences
The Central Bank of Nigeria (CBN) mandates existing Bureau de Change operators to reapply for operational licenses, setting minimum capital requirements. Tier 1 BDCs need N2 billion, Tier 2 N500 million. Non-refundable fees apply. Effective from June 3, 2024, the guidelines aim to streamline...- Nigeria News
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- bdc operators bureau de change capital requirements cbn foreign exchange market
- Category: Business
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![Today's Naira Rate [21-05-2024]: Naira Holds Steady at N1,465.68/$ Despite CBN Interest Rate Surge](/data/attachments/204/204165-6e202405f2f497d63440ce71bc64dc98.jpg?hash=biAkBfL0l9)
Nigeria Today's Naira Rate [21-05-2024]: Naira Holds Steady at N1,465.68/$ Despite CBN Interest Rate Surge
Naira holds steady against the dollar despite CBN's interest rate hike to 26.25%. At NAFEM, the currency appreciates marginally by 0.23%. Market turnover increases by 66.14% to $268.17 million. CBN Governor Olayemi Cardoso expresses confidence in Nigeria's FX market, citing efforts to clear...- Nigeria News
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- cbn nigerian naira yemi cardoso
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Nigeria CBN Raises Monetary Policy Rate to 26.25% to Combat Surging Food Prices
The Central Bank of Nigeria (CBN) has raised the monetary policy rate (MPR) from 24.75% to 26.25% to combat rising inflation, now at 33.69% due to increasing food prices. This is the third consecutive rate hike this year, impacting borrowing costs and economic growth in Nigeria. The monetary...- Nigeria News
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- cbn inflation control interest rates monetary policy rate nigerian economy
- Category: Business
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Business CBN withdraws Cybersecurity Levy circular after FG suspension - Linda Ikeji’s Blog
https://www.lindaikejisblog.com/2024/5/cbn-withdraws-cybersecurity-levy-circular-after-fg-suspension-2.html- Kayode Israel
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- cbn linda ikeji mohammed idris naija news nigeria news
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- Forum: Business News Links
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Nigeria Former CBN Governor Emefiele Granted N300 Million Bail Amid Allegations of Illegal Naira Printing
Former CBN Governor, Godwin Emefiele, granted N300 million bail by a Federal Capital Territory High Court amid charges of illegal naira printing by the EFCC. Emefiele pleaded not guilty to four counts. The court ruled for bail, requiring two sureties and travel document deposition. Trial set for...- Nigeria News
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- cbn cbn governor efcc godwin emefiele naira printing
- Category: Metro
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