Business
The rhythm of Nigeria's business world
On Wednesday, the Nigerian naira experienced a significant boost, appreciating against the US dollar as it closed at NGN801.10 per $1. This marks a remarkable 5.83% increase from the previous day's rate, which stood at NGN847.77/$1.
The day's forex market saw an intraday high of N891/$1 and an...
Fidelity Bank, a leading Nigerian commercial bank, has taken a significant step by blocking consumer fund transfers to neobanks, including Moniepoint, Kuda, OPay, and PalmPay, due to growing apprehensions surrounding their Know Your Customer (KYC) procedures. This move follows increasing...
Nigeria's crypto trading company, Patricia Technologies, finds itself in hot water as its move to convert customers' assets into equity shares has been met with strong resistance. Customers who received the offer letter, signed by Patricia's founder, Hanu Fejiro, have voiced their discontent...
Nigeria
Naira Tumbles to 1,220/Dollar as FG Unveils Forex Automation Plan to Stem Devaluation Crisis
In a decisive move to counter the ongoing slump of the Naira, the Federal Government unveiled plans to automate all transactions within the foreign exchange market. The announcement was made by the Minister of Finance and Coordinating Minister for the Economy, Wale Edun, during the 29th Nigeria...
In a significant legal development, the Business and Property Court in London ruled in favor of Nigeria, bringing an end to the $11 billion lawsuit filed by Process & Industrial Developments (P&ID) Ltd against the federal government of Nigeria. The judgment was delivered by Judge Robin Knowles...
The exchange rate between the Nigerian naira and the United States dollar opened the trading week with a lot of chatter in the financial circles. As Nairametrics reported, the rate began at N1,200/$1 on peer-to-peer (P2P) platforms, setting the tone for an eventful week. However, as noon...
Nigeria
Naira Weakens to N1,186/$1 in P2P Market Amidst Persistent Forex Woes and Global Economic Concerns
In recent days, Nigeria's currency, the Naira, has been on a tumultuous ride due to a surge in demand for the safe-haven US dollar. The official exchange rate in the country witnessed a fresh low, and the situation worsened on the unofficial market, where the Naira's exchange rate reached N1,186...
Nigeria
Naira Weakens to N1,186/$1 in P2P Market Amidst Persistent Forex Woes and Global Economic Concerns
In recent days, Nigeria's currency, the Naira, has been on a tumultuous ride due to a surge in demand for the safe-haven US dollar. The official exchange rate in the country witnessed a fresh low, and the situation worsened on the unofficial market, where the Naira's exchange rate reached N1,186...
Industries across the nation are grappling with immense challenges as the Nigerian naira continues its sharp decline against the U.S. dollar. The unofficial exchange rate in Lagos and Abuja recently reached between N1,150 and N1,155 per dollar. This alarming trend is causing significant distress...
Photo by Giorgio Trovato on Unsplash
Nigeria is currently facing a persistent scarcity of dollars, which has resulted in a record net foreign exchange loss of N452 billion for major consumer goods companies, according to a detailed analysis by Premium Times Nigeria. The currency exchange policy...
About Nigerian Bulletin
Nigerian Bulletin is your gateway to top news, specialized lifestyle topics, and a unique, curated marketplace. It connects Nigerians worldwide with crucial updates and opportunities and is ideal for engaging press releases, effective sponsored posts, banner ads, and product showcases.