central bank of nigeria
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![Today's Naira Rate [27-05-2024]: Naira Depreciates to N1,520 Amid Supply Shortage](/data/attachments/204/204327-bd899ca0c24b3b3c73ca8044710ce26b.jpg?hash=vYmcoMJLOz)
Nigeria Today's Naira Rate [27-05-2024]: Naira Depreciates to N1,520 Amid Supply Shortage
The naira depreciates by 1.32% against the dollar on the black market, opening at N1,520, attributed to increased demand and supply shortages. Meanwhile, the official exchange rate remains stable. Data shows slight fluctuations in the official market, with the naira appreciating by 0.19%, while...- Nigeria News
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- central bank of nigeria exchange rate forex market nigerian naira official market us dollar
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Nigeria CBN Lifts Ban: Nigerian Fintech Giants OPay, Moniepoint to Resume Customer Onboarding
CBN announces the resumption of customer onboarding for Nigerian fintech giants like OPay and Moniepoint. Governor Cardoso underscores the need for enhanced regulatory frameworks to combat money laundering. The Central Bank of Nigeria (CBN) has announced the forthcoming resumption of customer...- Nigeria News
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- cbn governor central bank of nigeria customer onboarding fintech regulation moniepoint olayemi cardoso opay
- Category: Business
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Nigeria Monetary Policy Committee Considers 100 Basis Point Hike to Curb Soaring Inflation
Amidst soaring inflation, the Central Bank of Nigeria (CBN) considers raising interest rates by 100 basis points, as projected by analysts. In April 2024, headline inflation rose to 33.69 percent. With the MPC meeting imminent, stakeholders anticipate decisive measures to address inflationary...- Nigeria News
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![Today's Naira Rate [17-05-2024]: Nigeria's Currency Crisis Deepens as Naira Slides to 1,533.99 Despite Central Bank Efforts](/data/attachments/204/204044-8457c57119a478bc5717b11aa4a694ef.jpg?hash=hFfFcRmkeL)
Nigeria Today's Naira Rate [17-05-2024]: Nigeria's Currency Crisis Deepens as Naira Slides to 1,533.99 Despite Central Bank Efforts
Despite intervention by the Central Bank of Nigeria, the Naira fell to a two-month low, reversing earlier gains. With significant market volatility and upcoming rate decisions, the Naira's decline raises concerns about Nigeria's economic stability and investor confidence. The Central Bank of...- Nigeria News
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- central bank of nigeria foreign exchange market naira devaluation nigerian economy
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Nigeria CBN Adjusts Import Duty FX Rate to N1,457/$ Amid Naira Depreciation
Amidst Naira's depreciation to N1,515/$, the Central Bank of Nigeria increases the import duty exchange rate to N1,457/$. This 3% hike poses challenges for importers, with the former Shippers Association president criticizing the instability. Analysts foresee continued Naira depreciation unless...- Nigeria News
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- central bank of nigeria economic policy foreign exchange rate import duty naira depreciation
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![Today's Naira Rate [11-05-2024]: Naira's Downward Spiral: Hits Month-Low at N1470 Against Dollar](/data/attachments/203/203848-147ab142f8cf48479284e57b3d23fc38.jpg?hash=FHqxQvjPSE)
Nigeria Today's Naira Rate [11-05-2024]: Naira's Downward Spiral: Hits Month-Low at N1470 Against Dollar
Amid evolving market dynamics, Nigeria's currency breached the N1,500 mark against the US dollar on the black market, highlighting fragile FX conditions. With the naira's downward trend from March, concerns rise over its ability to sustain gains without fiscal policy intervention. Analysts...- Nigeria News
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- central bank of nigeria fx market dynamics n1500 against dollar naira exchange rate nigerian currency
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![Today's Naira Rate [09-05-2024]: IMF Sounds Alarm as Naira Weakens, Exchange Rate Hits N1,459.73 Against Dollar](/data/attachments/203/203775-147ab142f8cf48479284e57b3d23fc38.jpg?hash=FHqxQvjPSE)
Nigeria Today's Naira Rate [09-05-2024]: IMF Sounds Alarm as Naira Weakens, Exchange Rate Hits N1,459.73 Against Dollar
Explore Nigeria's economic landscape as the naira depreciates against the dollar, reaching N1,459.73. IMF's call for stability amidst high demand and scarcity. Amidst a backdrop of economic turbulence, Nigeria's currency, the naira, continued its downward spiral against the US dollar...- Nigeria News
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- central bank of nigeria foreign exchange market imf recommendations naira depreciation nigeria currency
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Nigeria Northern Groups Slam CBN's Cybersecurity Levy as Heartless Extortion
Northern Groups condemn CBN's proposed 0.5% cybersecurity levy as unjust extortion, highlighting existing financial burdens on Nigerians. The Coalition of Northern Groups calls for transparency in banking charges and urges the reversal of the policy to alleviate economic strains faced by...- Nigeria News
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- central bank of nigeria coalition of northern groups cybersecurity levy
- Category: Metro
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Nigeria Nigerians Dismayed as Reps Back Down on Motion to Suspend Cybersecurity Levy
The House of Representatives faced criticism as it withdrew a motion to suspend the controversial cybersecurity levy, eliciting dismay from Nigerians. The levy, mandated by the Central Bank of Nigeria, imposes a 0.5% charge on electronic transactions, sparking widespread discontent due to...- Nigeria News
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- abbas tajudeen central bank of nigeria cybersecurity levy house of representatives speaker
- Category: Politics
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Nigeria Central Bank of Nigeria Releases List of Licensed Banks: What You Need to Know
The Central Bank of Nigeria (CBN) has recently unveiled a detailed roster of licensed Deposit Money Banks (DMBs) in Nigeria, providing valuable insights into the nation's banking sector. The list, organized by the types of licenses each institution holds, offers a comprehensive overview of...- Nigeria News
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- cbn central bank of nigeria deposit money banks licensed banks nigeria banking sector taj bank nigeria
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Nigeria CBN Extends Cash Deposit Fee Suspension Amidst Cybersecurity Levy Backlash
Explore the Central Bank of Nigeria's decision to extend the suspension of cash deposit fees amidst backlash over the cybersecurity levy. Learn how this impacts individuals and corporations, shaping financial strategies in Nigeria's evolving banking sector. The Central Bank of Nigeria (CBN) has...- Nigeria News
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- cash deposit fees central bank of nigeria cybersecurity levy suspension extension
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Nigeria Nigerian Labour Congress Slams CBN's Cybersecurity Levy as Unjust Burden on Citizens
In response to the CBN's cybersecurity levy, the Nigerian Labour Congress (NLC) vehemently opposes the directive, citing increased financial strain on citizens. NLC President Joe Ajaero calls for policy reversal, urging sustainable cybersecurity measures. The levy is criticized as another burden...- Nigeria News
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- cbn central bank of nigeria cybersecurity levy financial burden joe ajaero nigerian labour congress nlc
- Category: Metro
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Nigeria Cybersecurity Levy: Statisense Report Reveals Current Costs of Electronic Transfers in Nigeria
Explore Statisense's insightful analysis uncovering the impact of Nigeria's post-cybersecurity levy electronic transaction costs. This comprehensive report delves into the financial implications for individuals and businesses, shedding light on regulatory changes by the Central Bank of Nigeria...- Nigeria News
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- central bank of nigeria cybersecurity levy electronic transactions financial analysis statisense report
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![Today's Naira Rate [05-05-2024]: Naira Plummets, Exchange Rate Hits N1420 Against Dollar in 24-Hour Crisis](/data/attachments/203/203634-147ab142f8cf48479284e57b3d23fc38.jpg?hash=FHqxQvjPSE)
Nigeria Today's Naira Rate [05-05-2024]: Naira Plummets, Exchange Rate Hits N1420 Against Dollar in 24-Hour Crisis
In a swift currency crisis, Nigeria's Naira nosedives, plummeted by N130 against the US Dollar, reaching an alarming exchange rate of N1420 within 24 hours. Economic concerns surge as high demand drives the depreciation despite Central Bank interventions. The Naira faced a significant...- Nigeria News
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- central bank of nigeria economic instability foreign exchange market naira depreciation us dollar
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Nigeria Businesses Brace for Impact as Nigerian Customs Raises Import Duty Exchange Rate to N1,441/$
Nigerian Customs recently upped the import duty exchange rate to N1,441/$1, marking a significant hike from the previous rate. This shift has sent shockwaves through businesses, prompting concerns about increased costs and potential economic repercussions. The Nigerian Customs Service has...- Nigeria News
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- central bank of nigeria exchange rate import duties inflation nigerian customs
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Nigeria CBN Imposes Ban on Moniepoint, Opay, Kuda, and Others Over Cryptocurrency Links
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...- Nigeria News
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- cbn central bank of nigeria cryptocurrency fintech kuda bank moniepoint opay
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Nigeria Naira Plummets 23% in Four Days: Currency Dealers and Analysts Weigh In
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...- Nigeria News
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- central bank of nigeria forex market naira depreciation
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Nigeria Conflicting Narratives: FG's Borrowing Practices Under Scrutiny Amid Financial Uncertainty
The Federal Government of Nigeria has reportedly accumulated an additional N3.8 trillion through Ways and Means Borrowing within the last six months of 2023, as revealed by the latest Statistics bulletin released by the Central Bank of Nigeria (CBN). Despite previous statements by the Minister...- Nigeria News
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- central bank of nigeria debt profile ways and means
- Category: Politics
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![Today's Naira Rate [25-04-2024]: Nigerians Express Concern as Naira Weakens to N1,400/$](/data/attachments/203/203287-8457c57119a478bc5717b11aa4a694ef.jpg?hash=hFfFcRmkeL)
Nigeria Today's Naira Rate [25-04-2024]: Nigerians Express Concern as Naira Weakens to N1,400/$
The Nigerian Naira faced significant depreciation, falling to N1,400 against the US dollar on the black market, fueled by intensified demand pressure in the foreign exchange (FX) market. This represents a 19.64 percent loss in just two weeks compared to the rate of N1,125 per dollar recorded...- Nigeria News
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- central bank of nigeria currency depreciation foreign exchange market nigerian naira todays exchange rate
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Nigeria Naira's Downward Spiral: Despite CBN Intervention, Dollar Reigns Supreme in Forex Market
Despite recent efforts by the Central Bank of Nigeria (CBN) to bolster the Naira's value through additional forex injections, the currency continues to struggle against the US Dollar. FMDQ data reveals a further depreciation of the Naira to N1308.52 per Dollar on Wednesday, down from N1,300.15...- Nigeria News
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- bdc bureau de change cbn central bank of nigeria currency depreciation forex market us dollar
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