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CBN Mandates Banks, IMTOs to Pay Diaspora Remittances in Naira
The Central Bank of Nigeria (CBN) Tuesday directed banks and International Money Transfer Operators (IMTOS) to pay all diaspora remittances...
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Stock Market Sustains Profit-taking Momentum, Drops by N673bn
The stock market of the Nigerian Exchange Limited (NGX) yesterday sustained the bearish run as the overall capitalization dropped by...
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Agusto & Co: Petroleum Sector Will Grow, Manufacturing Will Suffer In 2024
Ratings agency, Agusto & Co., has projected that Nigeria’s oil sector will likely grow this year, curtailing FX efflux on...
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NAFEM: Dollar supply rises by 180% as banks sell $440m
Dollar supply in the official foreign exchange market rose by 180.59 percent to $440.13m on Friday. This is as the...
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No plan to exit Nigeria, says Shell
Shell PLC has denied speculations that it was leaving Nigeria after selling its onshore business in the Niger Delta. The...
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NCC suspends barring of Glo subscribers from calling MTN lines
Shell PLC has denied speculations that it was leaving Nigeria after selling its onshore business in the Niger Delta. The...
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Nigeria’s inflation ends 2023 at 28.9% as naira anxiety worsens outlook
Nigeria’s headline inflation closed 2023 slightly below the 30 percent market projected by many economists and research organisations, including KPMG....
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Food prices jump by 31%, says NBS
Ebonyi and Abia states led as food prices jumped by 31 per cent within in 12 months from July 2022...
Read moreAgusto & Co: Remittance Flows into Nigeria to Hit $26bn by 2025
Agusto & Co has predicted that remittance flows into Nigeria would rise to about $26 billion by 2025, from $19.8...
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Naira will rally to N600/$ by year-end, investment bankers forecast
Investment bankers are optimistic naira would rally to between N550 and N600 to a dollar later in the year as...
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Oil earnings hit N1.68tn as output rises
Nigeria’s crude oil earnings rose to over N1.68tn in June 2023 following an increase in the country’s output last month,...
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Naira devaluation pushes up vehicles duties by 40%
The Central Bank of Nigeria and the Nigeria Customs Service have taken the ongoing foreign exchange reforms to the maritime...
Read moreNigeria increases oil export storage capacity by 4m barrels
The Federal Government, yesterday, offered its first terminal establishment licences under the Petroleum Industry Act (PIA) to Nigeria National Petroleum...
Read moreTax hike will hurt business, Nigerian Breweries tells FG
Nigerian Breweries has stated that any further increase in excise duty by the Federal Government would harm its business and...
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Govts, financial institutions, others on alert as attacks on biometrics rise
•Criminals advance across platforms, eye mobile web, native Android, iOS As biometric registrations continue to prevail in many countries, especially...
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Stock Market Down N16bn on Weak Investors’ Sentiment
The stock market of the Nigerian Exchange Limited (NGX) yesterday opened the new trading week extending its losing streak for...
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Zenith Bank’s deputy MD bows out
The Deputy Chief Executive Officer at Zenith Bank, Adaora Umeoji, has retired after seven years in that role. This was...
Read moreBusiness activities fall to three-year low over elections –Report
Nigeria’s private sector activity has contracted for the first time in almost three years as companies reduce output and cut...
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Amidst Macro Economic Challenges, Banks’ Prime Lending Rate Hit 13.67% in January
Amid severe macro economic challenges and increase in Monetary Policy Rate (MPR), commercial banks’ prime lending rate to most credit-worthy...
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CBN proposes eNaira for $800m cash transfer scheme
In an effort to drive a cashless economy, the Central Bank of Nigeria has suggested the use of eNaira for...
Read more59% of Nigerian E-banking Customers Have Been Victim to Fraud
A survey carried out by Agusto&Co has revealed that 59 per cent of bank customers sampled indicated that they have...
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Roads are depreciating assets, says Fashola
The Minister of Works and Housing, Babatunde Fashola, has described roads as depreciable assets that must be maintained in order...
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Buhari unveils new Naira notes
President Muhammadu Buhari has unveiled the new currency notes on Wednesday morning before the federal executive council (FEC) meeting at the...
Read moreFuel scarcity grounds Lagos, Ogun, Abuja, commuters stranded
Petrol scarcity hit different parts of Nigeria on Tuesday, forcing motorists to spend hours at filling stations while battling to...
Read moreNigeria loses three million oil barrels monthly – FG
The Federal Government on Monday revealed that its latest findings showed that about 1.2 million barrels of crude oil was...
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