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Nigeria Nigerians Doubt EFCC's Arrest of Emefiele's Wife, Brand It a Potential Distraction From Economic Hardship
In response to the EFCC's arrest of Emefiele's wife, Nigerians have taken to various platforms to voice their opinions, revealing a spectrum of reactions. Some citizens are skeptical about the outcome, expressing concerns that the situation will be 'swept under the carpet'. Users like...- Nigeria News
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- cbn efcc emefieles wife godwin emefiele
- Category: Metro
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Nigeria More Woes For Emefiele as EFCC Declares Wife Wanted For Money Laundering
The Economic and Financial Crimes Commission (EFCC) has issued a declaration naming Margaret Emefiele, wife of former Central Bank of Nigeria Governor Godwin Emefiele, along with Eric Odoh, Anita Omoile, and her husband Jonathan Omoile, as wanted for alleged involvement in money laundering. The...- Nigeria News
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- anita omoile cbn efcc emefieles wife godwin emefiele jonathan omoile odoh
- Category: Metro
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Nigeria Economic Jitters as Naira Depreciates to N1,500: Parallel Market Struggles Against Dollar
The Nigerian naira witnessed a 3.45 percent depreciation on Wednesday, plummeting to N1,500 against the dollar in the parallel market. This marks a decline from the N1,450 recorded just two days prior, leaving currency traders, also known as Bureau De Change operators, with a narrow profit...- Nigeria News
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- cbn currency depreciation forex market naira to dollar exchange rate nigerian naira
- Category: Business
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Nigeria Punch Newspaper Stands by Its Story on Government's Consideration to Convert $30 Billion of Nigerian Deposit Funds to Save Naira
On February 3, 2024, Saturday PUNCH reported on the federal government's consideration of converting $30 billion domiciliary deposits to Naira as part of efforts to stabilize the currency. The story cited a senior government official in the presidency who spoke anonymously on the matter...- Nigeria News
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- cbn cbn vs punch economy policy punch newspaper yemi cardoso
- Category: Politics
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Nigeria More Woes for Nigerian Businesses as CBN Increases Import Duty by Another 4.4% in Just One Day
The Central Bank of Nigeria (CBN) has increased the Customs exchange rate for import duty once again, escalating from N1,356.883 per dollar to a staggering N1,413.62 within 24 hours. This swift move comes on the heels of a 43% increase in the Customs import duty rate announced the day before...- Nigeria News
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- cbn import duty yemi cardoso
- Category: Politics
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Nigeria Nigerians React With Disbelief to CBN Denial of $30 Billion Domiciliary Account Conversion Policy
CBN denies conversion of $30B domiciliary deposits, but skepticism reigns among Nigerians due to government's credibility issues. Doubts persist despite official statements, reflecting widespread distrust in governmental communications- Nigeria News
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- cbn domiciliary accounts naira depreciation yemi cardoso
- Category: Politics
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Nigeria Domiciliary Account Holders in Shock As Nigeria Mulls $30 Billion Domiciliary Deposit Conversion to Naira for Economic Stability
In response to the recent historic plunge of the national currency, the Nigerian government is reportedly considering a bold policy shift. Strong indications suggest that the Federal Government is contemplating the conversion of foreign currencies in domiciliary accounts, both individual and...- Nigeria News
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- cbn naira depreciation president tinubu yemi cardoso
- Category: Politics
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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 News
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- banking regulations cbn cbn guidelines fintech industry fintechs international money transfer international money transfers
- Category: Business
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Nigeria Central Bank's New Forex Regulations Trigger Varied Sentiments in Nigeria
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...- Nigeria News
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- cbn cbn forex policy naira exchange rate nigeria economy
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Business CBN orders banks to sell excess dollars in 24 hours - Linda Ikeji’s Blog
https://www.lindaikejisblog.com/2024/2/cbn-orders-banks-to-sell-excess-dollars-in-24-hours-2.html- Kayode Israel
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- cbn linda ikeji naija news nigeria news olayemi cardoso
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- Forum: Business News Links
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Business Naira appreciates against US Dollar amid CBN intervention - Daily Post
https://dailypost.ng/2024/02/01/naira-appreciates-against-us-dollar-amid-cbn-intervention/- Kayode Israel
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- cbn daily post news naija news nigeria news olayemi cardoso
- Replies: 0
- Forum: Business News Links
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Nigeria Lawmakers Demand Answers as CBN Governor is Summoned Over Alarming Naira Decline
In a bid to address growing concerns over the state of the economy and the alarming free fall of the naira in the forex market, the Senate's Committee on Banking, Insurance, and other Financial Institutions has taken a decisive step by summoning the Governor of the Central Bank of Nigeria...- Nigeria News
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- cbn naira crisis senate yemi cardoso
- Category: Politics
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Nigeria Businesses on Edge as Naira Hits Record Low of N1,482.57 per $1, Fueling Economic Uncertainty
The Nigerian Naira hit a historic low against the US dollar on Tuesday, causing concern in financial circles. Official figures reveal that the Naira closed at N1,482.57 per $1, showing a significant 10% drop from the previous day. The situation worsened in the unofficial market, where the...- Nigeria News
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- cbn currency crisis depreciation forex markets naira exchange rate us dollar
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Nigeria Airlines' Relief as CBN Clears $64.44M Forex Backlog, Yet Long Road Ahead
The Central Bank of Nigeria (CBN) has fulfilled its promise by disbursing $64.44 million, marking the latest step in addressing the extensive backlog of foreign exchange owed to airlines. This disbursement brings the total verified amount paid to airlines to $136.73 million, constituting a...- Nigeria News
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- cbn financial news forex backlog nigerian airlines yemi cardoso
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Nigeria Manufacturers Sound Alarm on Impending Price Escalations Amid Naira Depreciation
Manufacturers in Nigeria are bracing for a potential surge in commodity prices as the nation's currency, the naira, continues its downward spiral against the United States dollar. Since the removal of the rate cap by the Central Bank of Nigeria in June 2023, the naira has witnessed a significant...- Nigeria News
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- cbn exchange rates forex market manufacturers association of nigeria naira depreciation nigeria economy
- Category: Business
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Nigeria CBN Reveals Complete List of Departments Shifting to Lagos
The Central Bank of Nigeria (CBN) has initiated a comprehensive plan aimed at "decongesting" its head office, as outlined in a recent circular dated January 12, 2023, addressed to all staff. The directive, issued by the director of the human resources department, underscores the imperative of...- Nigeria News
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- cbn cbn and faan cbn relocation
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Nigeria Central Bank's $500 Million Boost Fails to Halt Naira's Dive, Reaches Record Low of N1,348.63/$1
Naira plummeted to a record low of N1,348.63 against the US Dollar on Monday, signaling a 33.87% decline from the previous Friday's closing rate of N891.90. This unprecedented depreciation, witnessed at the official NAFEM market, reflects the severity of the current economic challenges facing...- Nigeria News
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- cbn exchange rate today forex market naira against dollar naira depreciation
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Nigeria FG Refutes Political Allegations, Stresses FAAN and CBN Relocation for Efficiency
In a bid to address speculation and dispel concerns of political motives, the Federal Government has clarified that the planned relocation of the headquarters of the Federal Airports Authority of Nigeria (FAAN) and certain departments of the Central Bank of Nigeria (CBN) to Lagos is purely an...- Nigeria News
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- cbn faan faan and cbn relocation
- Category: Politics
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Nigeria Calls Intensify for Keyamo and CBN Governor's Removal Over Controversial Agency Moves, Northern Youth Lead Charge
In a recent development, the Joint Action Committee of Northern Youth Associations has demanded the removal of the Minister of Aviation, Festus Keyamo, and the Governor of the Central Bank of Nigeria (CBN), Yemi Cadoso. The call for their dismissal is linked to the controversial planned...- Nigeria News
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- agency relocation cbn cbn and faan relocation faan festus keyamo northern youth committee yemi cardoso
- Category: Politics
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Nigeria Nigeria Braced For Business Collapse As Naira Plummets to Record Low of N1,410/$1
The Nigerian Naira has hit a record low of N1,410 against the US Dollar on the black market, reflecting a 3.29% drop from the previous day's closing rate. The sudden depreciation is attributed to increased demand for dollars, notably from businesses restocking, individuals pursuing overseas...- Nigeria News
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- 1 min read
- cbn economy policy financial news naira to dollar exchange nigerian naira
- Category: Business
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