Business
The rhythm of Nigeria's business world
Aliko Dangote has revealed that the Dangote Refinery has successfully obtained a license to refine over 300,000 barrels of Nigerian crude per day, marking a significant milestone in the oil industry. In an interview during the Saudi-Nigeria business roundtable in Riyadh, Dangote emphasized the...
In the aftermath of the Central Bank of Nigeria's (CBN) recent revocation of licences from 110 microfinance banks (MFBs) and three primary mortgage banks (PMBs), the Nigeria Deposit Insurance Corporation (NDIC) has swiftly disbursed N1.39 billion to 36,163 depositors.
NDIC CEO Bello Hassan...
Nigeria
CBN Orders Staff to Disclose Family Ties and Political Links Amidst Ongoing Investigative Probe
The Central Bank of Nigeria (CBN) has issued a directive compelling its staff to declare close relatives employed by the bank and disclose connections with Politically Exposed Persons (PEPs).
The directive, outlined in a memo signed by Deputy Director Christian Eze, defines close relatives as...
A technical glitch within MTN Nigeria's system has led to the sudden vanishing act of outstanding debts on the accounts of subscribers who had previously borrowed credit from the telecom giant. The curious incident has stirred a wave of jubilation among subscribers, who are under the impression...
A recent report by the Economist Intelligence Unit (EIU) forecasts a substantial devaluation of Nigeria's official exchange rate to N1,068.3 per US dollar by 2025. The EIU attributes this projection to the widening gap between official and parallel-market rates, coupled with the country's low...
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In a recent eye-opening interview with the Foundation for Investigative Journalism (FIJ), crypto market analyst Mikael Bernard delved into the complexities surrounding the Nigerian Naira's recent surge in value. This discussion unearthed critical insights...
Nigerian Naira experienced a sharp depreciation of 13.95 percent, closing at N996 per dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEM), the official exchange rate window.
FMDQ Securities Exchange data revealed the Naira's tumultuous journey, reaching an intra-day high of N1,100...
Minister of Communications, Innovation, and Digital Economy, Dr. Bosun Tijani, asserts that despite public complaints, the cost of data in Nigeria remains one of the cheapest globally. Speaking on a live TV program on Arise, he emphasized the Ministry's commitment to enhancing the quality of...
Image by Gerhard Traschütz from Pixabay
The geopolitical upheaval triggered by the Russia-Ukraine crisis has profoundly impacted global energy dynamics, particularly affecting Nigeria's crude oil exports to its once steadfast Asian market, Business Insider Africa reports. The Nigerian National...
The Nigerian Naira faced a significant challenge in the foreign exchange market as it depreciated to N1,135 per US dollar on Wednesday at the parallel market. This represents a notable N15 or 1.35 percent depreciation compared to the previous day's exchange rate of N1,120. Currency traders...
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