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Business
Nigeria Attracts $1 Billion of Inflows in Two Weeks Since Revamp – Bloomberg
Nigeria’s foreign exchange market attracted more than $1 billion in the past two weeks as market confidence improved following the central bank’s efforts to steady the nation’s battered currency, Governor Olayemi Cardoso said.
…
FG To Enhance Manufacturers, Others With N200bn Loan
The federal government has, through the Federal Ministry of Industry, Trade, and Investment (FMITI), established three funds totalling N200 billion to support businesses across Nigeria, at nine per cent interest, to be disbursed by the Bank…
Price Hike Looms In Nigeria As CBN Increases Customs Exchange Rate
Price increments are imminent as the Central Bank of Nigeria, CBN, raised the Nigeria Customs Service exchange rate for importation at N1,356.883 per US dollar from N951.842.
The CBN usually determines the exchange rate for Duty…
CBN Releases $500m To Clear Foreign Exchange Backlog
The Central Bank of Nigeria (CBN) has released $500 million to various sectors to further address the backlog of verified foreign exchange transactions.
This comes barely a week after the apex bank paid approximately $2 billion to settle…
Dangote Cement Passes N13trn Market Capitalisation
As the equities market maintained its positive momentum, Dangote Cement Plc on Monday crossed the N13trilliion in market capitalisation on the floor of the Nigerian Exchange Limited (NGX) as investors’ demand persisted.
The price on…
Naira Hits Record Low Of N1,410/US$ At Parallel Market
The naira has hit a record low at the parallel section of the foreign exchange market.
The local currency closed at N1,415 on Thursday compared to N1,365 to the greenback exchanged on Wednesday, January 24, 2024.
Currency traders,…
Pump Prices Of Petrol To Fall Soon – CBN Governor
The pump prices of petrol will fall over this year as government and private-owned refineries begin operation, CBN Governor, Olayemi Cardoso has said.
He spoke on Wednesday, January 24, at the launch of the Nigerian Economic Summit Group…
FINTECH Guru, Jesam Micheal To Opens Biggest Apple Store In Lagos
Jesam Micheal, the Fintech Expert cum entrepreneur genius is set to open the biggest apple store, AAS Apple store in Lagos on Saturday, 27th Of January, 2024.
Arguably known as the tech guru with the Midas touch, he is a man on a mission…
Fintech Company, Opay Adopts Interswitch Payment Gateway For Secure Transactions
A financial technology (fintech) company, OPay, has integrated the Interswitch Payment Gateway (IPG) into its suite for faster and more secure transactions for customers.
It was gathered that the incorporation of OPay into the suite of…
Femi Otedola Explains Why He Is Buying Dangote Cement Shares
Nigeria’s billionaire investor Femi Otedola has issued an official statement giving reasons for his recent acquisition of shares in Dangote Cement, one of Nigeria’s largest companies.
In a press release seen by The Reflector, the…