Currencies
MTN Nigeria Records Staggering N1.39 Trillion in Forex Losses Amid Naira Depreciation
MTN Nigeria, one of the leading telecommunications companies in the country, has reported a significant financial setback due to the...
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The Naira Continues to Weaken Against the Dollar, Hits N1,380/$1 at Parallel Market
The exchange rate between the Naira and the Dollar has once again taken a hit, with the parallel market quoting...
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Nigeria Sees Surge in Active Bank Accounts, Reaches 219.6 Million in March 2024 – NIBSS
Nigeria's banking sector experiences a notable uptick in active bank accounts, reaching a total of 219.6 million in March 2024,...
Read moreNaira Plunges to N1,450 Against Dollar, 8.28% Decrease During Trading Hours
The Nigerian naira experienced a sharp decline on Thursday afternoon, dropping to N1,450 per dollar in the parallel market. This...
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CBN Sells Discounted Dollars to BDCs, Sets New Exchange Rate
The Central Bank of Nigeria (CBN) has once again intervened in the foreign exchange market by selling discounted dollars to...
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CBN Data Reveals Sharp Drop by N226 Billion in POS Transactions Amid Rising Cash Hoarding
In a stark reversal of trends, Point-of-Sale (POS) transactions in Nigeria plummeted by N225.73 billion in the first quarter of...
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Nigeria’s External Reserves Drop to $32.1 Billion Despite CBN Clarifications
Despite recent statements from the Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, concerning the country's external reserves, data from...
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EFCC Freezes 300 P-to-P Forex Accounts to Avert Further Naira Crash
The Economic and Financial Crimes Commission (EFCC) has taken decisive action to curb illicit peer-to-peer forex trading, freezing approximately 300...
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Official Exchange Rate Hits Month-to-Date Low of N1300/$1, Depreciates by 17.4% in 5 Days
Nigeria's official exchange rate plummeted to a month-to-date low of N1300/$1 on Tuesday, April 23, 2024, as reported by data...
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Dollar Strengthens Against Euro, Yen, and Yuan: Factors Behind the Surge
The global financial markets are witnessing an unexpected force in 2024: the resurgence of the US dollar. With the US...
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Popular Story
CBN Directs International Money Transfer Operators to Open Naira Settlement Accounts with Local Banks
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NGX Market Cap Drops Below N129 Trillion as Profit-Taking Weighs on Banking Stocks
CBN Lowers Yields on Two Tenors at March 25 Treasury Bills Auction Amid Liquidity Glut
Federal High Court Nullifies CBN’s Dissolution of Union Bank Board, Orders Immediate Reinstatement