forex crisis
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Nigeria Central Bank Faces Criticism as Naira Loses Ground, Now at N1,620/$
In a concerning economic development, the Naira faced a 1.25 percent depreciation against the US Dollar, reaching N1,620/$ at the parallel market on Monday. This marks a N20 decline from its trading rate of N1,600 on March 1, 2024. Bureau de Change (BDC) operators in Lagos quoted buying rates at...- Nigeria News
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- exchange rate today forex crisis naira exchange rate naira to dollar parallel market
- Category: Business
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Nigeria Binance Crisis Deepens: Nigerian Lawmakers Mull Arrests Over Alleged Financial Crimes
Cryptocurrency giant Binance is ensnared in a mounting crisis in Nigeria as the nation's parliament deliberates issuing an arrest warrant for the company's executives. During a Monday investigative hearing, the House of Representatives Committee on Financial Crimes issued the threat after...- Nigeria News
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- binance binance troubles crypto ban cryptocurrency news forex crisis nigeria parliament nuhu ribadu
- Category: Politics
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Nigeria NCAA Takes Action: Foreign Airlines Face Sanctions Over Ticket Pricing Discrepancies
The Federal Government has issued a stern warning to foreign airlines, threatening sanctions if they fail to comply with directives aimed at making air travel more affordable for the Nigerian middle class. Despite a recent meeting between the Nigerian Civil Aviation Authority (NCAA) and key...- Nigeria News
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- affordable air travel airfares foreign airlines sanctions forex crisis ticket pricing
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Nigeria Naira Crisis: Nigeria Imposes $10 Billion Fine on Binance for Alleged Currency Manipulation
The Nigerian government has imposed a colossal $10 billion fine on Binance, a prominent cryptocurrency trading platform, citing its alleged role in exacerbating the country's ongoing foreign exchange crisis. Bayo Onanuga, the Special Adviser on Information and Strategy to President Bola Tinubu...- Nigeria News
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- bayo onanuga binance bola tinubu central bank of nigeria crypto market cryptocurrency financial news financial regulations forex crisis nigeria
- Category: Politics
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Nigeria Nigerians Outraged as Northerners Demand Binance Official's Detention Until $1 Exchanges at N600
In a surprising tweet from Voice of Northerners Twitter page, a demand was made for the prolonged detention of the arrested Binance official in Nigeria until the exchange rate drops to 600 Naira per dollar, with a call for President Tinubu to teach a lesson for allegedly sabotaging the economy...- Nigeria News
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- binance arrest dollar exchange rate forex crisis nigeria economy president tinubu
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Nigeria Binance Nigeria: 8 Alleged Critical Concerns Nigerians Should Know
In the wake of the Binance scandal, where serious allegations have been raised against the cryptocurrency platform APC supporter on Twitter, Opeoluwa, shares some critical concerns surrounding the issue. With Speculations on X app by Ope, Who, it must be said, is a government supporter, has...- Nigeria News
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- binance nigeria binance scandal crypto bann in nigeria cryptocurrency controversy forex crisis national security adviser nuhu ribadu onsa investigation
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Nigeria Naira Crisis: CBN target BDCs With N2 billion Licence Fee
Amidst a deepening forex crisis pushing the naira to a historic low of N2,000 against the dollar, the Central Bank of Nigeria (CBN) has implemented robust measures against Bureau De Change (BDC) operators. In response to the economic downturn, the National Security Adviser, Mallam Nuhu Ribadu...- Nigeria News
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- bdc operators bureau de change cbn cbn governor central bank of nigeria efcc forex crisis forex market naira crisis yemi cardoso
- Category: Business
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Nigeria Nigerian Airlines Face Crisis as Escalating Fuel Costs and Currency Woes Threaten Operational Shutdown
Nigerian airline operators have sounded the alarm over a waning passion for business continuity amid the relentless challenges posed by escalating aviation fuel costs and a foreign exchange crisis. The spokesperson for local air carriers, Obiora Okonkwo, issued a compelling statement...- Nigeria News
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- airline industry challenges airpeace aviation fuel costs forex crisis nigerian aviation united nigeria airlines
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Nigeria Naira Sinks to 1,025/$: Troubling Plunge Sparks Fears of Economic Unrest
Nigeria is grappling with a deepening economic crisis as the Naira plunged to an alarming exchange rate of 1,025 Naira to the US dollar in the parallel market. This decline, which continues to sow panic and instability, has ignited concerns among small-scale enterprises, manufacturers, and...- Nigeria News
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- cbn policy exchange rate forex crisis
- Category: Business
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FX Policy: Tomato Union Proffers Alternatives To CBN
The Spokesperson for Tomato Union of Nigeria (TUN) has proffered alternatives to the Central Bank of Nigeria (CBN) over the inclusion of tomato paste triple concentrate in the Forex policy which placed restrictions on 41 items. Mr. Nnamdi Nnodebe, The Managing Director, Sonia Foods Industries...- mrsam
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- business forex forex crisis sponsored post tomato tomato paste tomatoes
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- Forum: Sponsored & PR Post
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Business Forex Crisis: CBN Directs Banks To Honor Dollar Application Within 48 Hrs
The Central Bank of Nigeria (CBN) has directed Money Deposit Banks to henceforth process and meet the demand for dollars and other foreign currencies within 48 hours. In a circular made available to journalists, on Sunday in Abuja, the Director, Financial Markets Department, CBN, Dr Alvan Ikoku...- ProfRem
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- cbn directs bank to honor forex application cbn foreign exchange interventions dr alvan ikoku forex crisis
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Business CBN Reacts To Alleged Plan To Prohibit Possession of Foreign Currency
The Central Bank of Nigeria (CBN) has refuted the claims that it was planning to seize funds in domiciliary accounts of individuals, saying the claim was “false”. The CBN on Monday said that it does not have any plan to amend the nation’s Foreign-Exchange Act to sanction anyone found hoarding...- ProfRem
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- cbn foreign-exchange act forex crisis forex monitoring and miscellaneous exchange act nigeria news
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Business Forex Crisis: DSS Raids BDC Operators In Kano
The Department of State Security in Kano has arrested over 40 people at the famous Wapa Bureau d’ Change in Fagge area of Kano state. A source close to the DSS, who pleaded anonymity, confirmed the arrests told NAN, saying that those arrested were touts responsible for the hike in exchange...- ProfRem
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- dss raids bdcs forex crisis kano state news nigeria news nigerianbulletin
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- Forum: Business News Links
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