FAAC accuses NNPC of using lower FX rate for crude oil revenue
The Federation Account Allocation Committee (FAAC) has accused the Nigerian National Petroleum Company (NNPC) of using an exchange rate lower...
Bank branch fraud increased by 87.99% in the second quarter of 2022.
The amount lost to fraud in bank branches that were recorded in the second quarter has increased alarmingly. This information...
Emefiele to meet state governors over withdrawal policy
Governors of the 36 states have planned to meet with the Central Bank of Nigeria, Godwin Emefiele, on Thursday over...
Naira depreciates to N745/$ in the parallel market
The exchange rate between the naira and the US dollar at the parallel market depreciated on Wednesday, January 18, 2023,...
Microsoft to add ChatGPT to its Azure cloud service
Microsoft announced that it will add OpenAI’s popular chatbot ChatGPT to its cloud-based Azure service. This comes as the company...
15% of low-income countries are already in debt distress – IMF
The International Monetary Fund (IMF) has stated that about 15% of low-income countries are already in debt distress. This was...
The Naira maintains its rate against the USD at N742/$1 in the parallel market.
The exchange rate between the naira and the US dollar at the parallel market remained flat on Tuesday, January 17,...
Nigeria’s food inflation rate eased to 23.75% as food prices are expected to fall
Nigeria's food inflation rate fell to 23.75% in December 2022, down from 24.13 percent in November 2022. In its Consumer...
CBN rolls out guidelines on legal structures to banks and other financial institutions
In a way to mitigate the risks of money laundering, financing terrorism, and financing proliferation of weapons of mass destruction,...
Breaking: Nigeria’s Inflation surprisingly plunged to 21.34% in December 2022
The Nigeria inflation rate in December 2022 eased to 21.34% compared to November 2022 headline inflation rate which was 21.47%....
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