Fear rises over possible conversion of Dollars in domiciliary accounts into Naira
There is palpable concern that the Central Bank of Nigeria could consider converting dollars in domiciliary accounts of banks held on behalf of depositors into […]
Finance
MANUFACTURERS ASSOCIATION OF NIGERIA ADDRESS THE CBN NEW POLICY ON FOREX ALLOCATION TO BDCs
The Manufacturers Association of Nigeria (MAN) have expressed their concerns regarding the Central Bank of Nigeria policy on Forex Allocation to BDCs. The exchange rate […]
Nigeria’s Hushpuppi pleads guilty to fraud charges in US, risks 20 years in jail
A Nigerian Instagram influencer, Ramon Olorunwa Abbas, popularly known as Hushpuppi, has pleaded guilty to charges that include money laundering, wire fraud, felony amongst others, […]
Nigeria receives $2.78 billion foreign inflows in H1 2021, 61% drop from H1 2020
Nigeria received a sum of $2.78 billion as foreign inflows in the first half of 2021, representing a 61.1% decline compared to the $7.15 billion […]
BREAKING: CBN stops issuance of new licenses to BDCs
The Central Bank of Nigeria (CBN) has said it will henceforth stop the licensing of new Bureau De Change (BDC) operators across the country. This […]
Naira falls to N506/$ at black market as dollar supply slides by 5.77%
Friday 16th July 2021: The exchange rate between the naira and the US dollar closed at N410.38/$1 at the official forex market. Naira appreciated against the […]
BUDGIT, CODE LAUNCH PROJECT TO TRACK COVID-19 FUNDS IN AFRICA
In order to ensure accountability and civic engagement Budgit Foundation and Connected Development, Nigerian civic-tech organizations have launched the Covid-19 Transparency and Accountability Project ,an […]
CBN’s digital currency to begin before 2022
The Director, Information Technology Department, Central Bank of Nigeria (CBN), Mrs Rakiyat Mohammed, stated at the banker’s committee meeting yesterday, that the apex bank will […]
FEDERAL GOVERNMENT TO GIVE ONE MILLION NIGERIANS N5,000 STIPENDS FOR 6 MONTHS
The Federal Government has announced that one million Nigerians impacted by COVID-19 pandemic will receive N5,000 cash for six months. Earlier this year with 3,115 […]
Naira crashes to record N502/$1 at the black market as forex speculation increases
Friday, 4th June 2021: The exchange rate between the naira and the US dollar closed at N410.75/$1 at the official Investors and Exporters window. Naira appreciated […]