Business
The rhythm of Nigeria's business world
Flutterwave, a prominent fintech firm in Africa, reportedly lost between $7 million and $20 million due to a major security breach, as unauthorized individuals diverted funds to multiple bank accounts in April 2024.
According to TechCabal, Flutterwave, one of Africa's leading financial...
Nigeria
Nigerians Unmoved as Emirates Airlines Announces Resumption of Nigeria Flights from October 1, 2024 Amid Economic Hardship
Emirates Airlines announces the resumption of flight operations to Nigeria starting October 1, 2024. Nigerians express joy and relief at the news, anticipating improved connectivity to Dubai and beyond.
Emirates Airlines announces the resumption of flight operations to Nigeria from October 1...
![Today's Naira Rate [15-05-2024]: Naira Slips to N1,550 Against Dollar, Contrary to Official Market's Rise](/data/attachments/203/203976-147ab142f8cf48479284e57b3d23fc38.jpg)
Nigeria
Today's Naira Rate [15-05-2024]: Naira Slips to N1,550 Against Dollar, Contrary to Official Market's Rise
Naira's value fluctuates as it depreciates to N1,550 against the dollar in the parallel market while appreciating to N1,459.02 at the official window. Currency traders quote rates in Lagos, amid a $289.14 million daily turnover. Meanwhile, EFCC raises concerns over foreign currency transactions...
HerRyde, a women-only ride-hailing app in Nigeria, has temporarily suspended operations after a successful year-long trial in Abuja, aiming to improve its system and secure additional funding for future expansion. The app empowered women drivers and prioritized passenger safety.
In Nigeria's...
![Today's Naira Rate [14-05-2024]: Naira Depreciates to N1,520.40 Against USD, Amid Forex Shortage](/data/attachments/203/203959-8457c57119a478bc5717b11aa4a694ef.jpg)
Nigeria
Today's Naira Rate [14-05-2024]: Naira Depreciates to N1,520.40 Against USD, Amid Forex Shortage
The Nigerian Naira depreciates to a two-month low against the US dollar, hitting N1,520.40 at the official foreign exchange market. With a shortage of dollars affecting the market, the currency faces challenges, reflecting economic complexities. Analysts attribute the downturn to various...
Nigeria's inflation rate surges to 33.69% in April, up from 33.20% in March, exacerbating economic hardship as the cost of living soars.
Nigeria's economic woes have deepened as the country's inflation rate surged to a staggering 33.69% in April, up from 33.20% in March, according to the latest...
ABCON official highlights inadequate CBN forex allocation as the main driver of Naira depreciation, refuting claims of BDC involvement. Learn about the challenges faced by operators and the broader economic implications of the currency's decline.
A senior official from the Association of Bureau...
Bua Cement Plc secures approval from the Federal Executive Council to fund critical road infrastructure projects, including the Lokoja-Benin road, under the tax credit scheme. Valued at N120 billion, this initiative aims to enhance transportation networks and stimulate economic growth, signaling...
Nigeria
Nigeria's Most Expensive University? Late Herbert Wigwe's Institution Eyes N12m School Fees in August
Wigwe University introduces unprecedented course fees and luxury accommodation options, including a premium plan priced at N1 million monthly. Discover the institution's academic programs spanning four colleges and delve into the economic impact of its establishment in Isiokpo, Rivers State, set...
Amidst Naira's depreciation to N1,515/$, the Central Bank of Nigeria increases the import duty exchange rate to N1,457/$. This 3% hike poses challenges for importers, with the former Shippers Association president criticizing the instability. Analysts foresee continued Naira depreciation unless...
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