business

EIU: Solely Foreign Borrowing Can Salvage Naira, Eradicate CBN Debts

International business research firm, Economist Intelligence Unit, has said that the Central Bank of Nigeria does not have the liquidity to support the naira as of now. It stated this…

Mar 11, 2024

business, national

EIU, Naira, salvaging

Nigeria Poised to Join Russia and China in BRICS; Considers Trading Crude Oil in Naira

The President BolaTinubu-led government is working towards submitting an application for Nigeria to join international organisation, BRICS. This was made known in a post shared via X (formerly Twitter) on…

Mar 8, 2024

business, national

Bola Tinubu, BRICS, oil in naira

Dangote Plans to Establish Trading Arm for Nigerian Refinery

Africa’s richest man, Aliko Dangot, is planning to set up an oil trading arm, likely based in London, to help run crude and products supply for his new refinery in…

Mar 6, 2024

business

Dangote, Nigeria’s refinery

Binance Withdraws from Nigeria, Suspends Naira Services

Cryptocurrency exchange, Binance has announced that it will stop providing all services related to the Nigerian naira (NGN). The exchange’s decision comes amid Nigeria’s crackdown on the global crypto exchange.…

Mar 5, 2024

business

Binance, Nigeria

Bank of Ghana Suspends Forex Licenses of GTB and First Bank

The Bank of Ghana has suspended the Foreign Exchange Trading Licences of two Nigerian-owned banks, Guaranty Trust Bank Ghana Limited and FBNBank Ghana Limited. The suspension takes effect from March…

Mar 5, 2024

business

forex, ghana

Jeff Bezos Surpasses Elon Musk to Reclaim Title of World’s Richest Person

Jeff Bezos, the chief executive officer (CEO) of Amazon, has become the world’s richest man, with his net worth hitting the $200 billion mark. Bezos dethroned Elon Musk, the billionaire…

Mar 5, 2024

business

amazon, Elon Musk

Residents of Kano express frustration over soaring sugar prices, turn to local substitutes

Many Kano residents have resorted to using locally-produced brown sugar (known as mazarkwaila), due to the high cost of granulated sugar. The price of granulated sugar has soared in recent…

Mar 3, 2024

business

Brown sugar, Kano, residents

Naira depreciates to N1,600/$ at parallel market

Naira, on Friday, reversed the appreciation trend at the parallel section of the foreign exchange market. The local currency depreciated by N100 or 6.67 percent to N1,600 per dollar. Currency…

Mar 2, 2024

business

dollar, Naira

Naira Extends Winning Streak, Surges to Close at ₦‎1,500/$

Naira has continued its appreciation streak at the parallel section of the foreign exchange (FX) market. The local currency traded at N1,500/$ on Wednesday, representing a gain of 9.09 percent…

Feb 29, 2024

business

dollar, Naira

Naira Strengthens Further to N1,650/$ at Parallel Market

to N1,650The naira appreciated further to per dollar at the parallel section of the foreign exchange (FX) market. Naira appreciated by 6.78 percent, representing N120 drop compared to the N1,770/$…

Feb 27, 2024

business

dollar, Naira, rate

EIU: Solely Foreign Borrowing Can Salvage Naira, Eradicate CBN Debts

Nigeria Poised to Join Russia and China in BRICS; Considers Trading Crude Oil in Naira

Dangote Plans to Establish Trading Arm for Nigerian Refinery

Binance Withdraws from Nigeria, Suspends Naira Services

Bank of Ghana Suspends Forex Licenses of GTB and First Bank

Jeff Bezos Surpasses Elon Musk to Reclaim Title of World’s Richest Person

Residents of Kano express frustration over soaring sugar prices, turn to local substitutes

Naira depreciates to N1,600/$ at parallel market

Naira Extends Winning Streak, Surges to Close at ₦‎1,500/$

Naira Strengthens Further to N1,650/$ at Parallel Market

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