Business
The rhythm of Nigeria's business world
The Central Bank of Nigeria (CBN) has recently unveiled a detailed roster of licensed Deposit Money Banks (DMBs) in Nigeria, providing valuable insights into the nation's banking sector. The list, organized by the types of licenses each institution holds, offers a comprehensive overview of...
Explore the Central Bank of Nigeria's decision to extend the suspension of cash deposit fees amidst backlash over the cybersecurity levy. Learn how this impacts individuals and corporations, shaping financial strategies in Nigeria's evolving banking sector.
The Central Bank of Nigeria (CBN) has...
![Today's Naira Rate [08-05-2024]: Naira Depreciates Slightly to N1,450/$ Against Dollar](/data/attachments/203/203737-8457c57119a478bc5717b11aa4a694ef.jpg)
Explore the economic turmoil in Nigeria's currency markets as the Naira struggles against a surging U.S. Dollar. Amidst regulatory interventions and Federal Reserve policy uncertainties, fluctuations in exchange rates prompt concerns over FX liquidity.
On Wednesday, the Naira experienced a...
Here is a comprehensive guide to navigating CAC registration in Nigeria under the recent CBN mandate. With ten straightforward steps outlined, entrepreneurs can ensure compliance with ease. From selecting a business name to document retrieval, this guide empowers entrepreneurs to streamline the...
Learn about the controversy surrounding the Federal Government's introduction of a $300 landing fee for helicopter operators through NAEBI Dynamic Concepts Limited. While some operators comply, others resist, sparking division within the industry. Minister Festus Keyamo issues a directive...
Nigeria
Job Loss Looms: Microsoft Eyed to Shut Down Lagos Development Center, 200 Employees Affected
Reports indicate Microsoft's potential closure of its Lagos Development Center, jeopardizing 200 jobs. The move spells uncertainty for Nigeria's tech landscape and innovation prospects. While the company remains tight-lipped, economic challenges are speculated to drive the decision. The shutdown...
![Today's Naira Rate [07-05-2024]: Naira Slips to N1,415/$ in Parallel Market Amid Economic Uncertainties](/data/attachments/203/203712-147ab142f8cf48479284e57b3d23fc38.jpg)
Nigeria
Today's Naira Rate [07-05-2024]: Naira Slips to N1,415/$ in Parallel Market Amid Economic Uncertainties
Amid economic uncertainties, the Nigerian Naira has depreciated to N1,415 per dollar in the parallel market, while in the Nigerian Foreign Exchange Market (NAFEM), it stands at N1,416.57. This decline reflects ongoing challenges in the economy, impacting exchange rate stability and financial...
Binance CEO Richard Teng lays out five conditions for Nigerian government engagement. Terms include transparency and regulatory reform. The demand highlights tensions between cryptocurrency firms and Nigerian authorities.
Binance CEO Richard Teng has presented a set of prerequisites that must...
In a move to enhance financial transparency, the Central Bank of Nigeria (CBN) has mandated Point-of-Sale (PoS) operators to register their businesses with the Corporate Affairs Commission (CAC) within two months. This measure aims to reduce fraud and promote a more regulated financial sector in...
In recent years, the global financial landscape has witnessed a remarkable revolution. Nigeria, Africa's most populous nation, has witnessed one of the most remarkable transformations in forex trading. This shift can be attributed in large part to the increased penetration of mobile technology...
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