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CBN Denies Plan To Convert $30bn Domiciliary Deposits To Naira
The Central Bank of Nigeria (CBN) has refuted claims about converting the $30 billion in domiciliary bank deposits to local currency. In a...
BusinessNews
Just In: Customs Approves 43% Increase in Import Duty
The Central Bank of Nigeria (CBN) has given the nod to a significant 43% hike in import duty rates, making it the fourth...
BusinessTechnology
Tope Awotona: From Lagos to Tech Billionaire
Forbes has crowned Tope Awotona, a 42-year-old Nigerian-American, as the richest immigrant and Nigerian-American in the U.S. As the Founder and CEO of...
BusinessFinance
Femi Otedola Assumes Chairmanship of FBN Holdings Board
Femi Otedola has taken over as Chairman of the Board of FBN Holdings Plc, the parent company of First Bank. This transition occurred...
BusinessNews
CBN Releases Foreign Currency Exposure Guidelines to Curb Insider Trading
The Central Bank of Nigeria (CBN) on Wednesday issued new guidelines to all commercial banks operating in Nigeria against hoarding and conjecture of...
BusinessFinanceNews
“Women’s thirst for lace wigs devalue the naira”- AriseTV’s Rotus
Rotus, a broadcaster, has alleged that Nigerian women are partly responsible for the devaluation of the naira due to their thirst for lace...
BusinessNews
Naira Hits All-time Low at N1482.57/$ in Official Market
The naira has experienced significant decline, reaching a new all-time low in the official Investor and Exporter window of the foreign exchange market....
BusinessNews
IMF Downgrade Nigeria’s 2024 Economic Growth Forecast to 3%
The International Monetary Fund (IMF) has revised Nigeria’s economic growth projection for 2024, lowering it from 3.1% to 3%. This update was included...
BusinessNews
Jagabanomics: PwC says Tinubu’s monetary policies devalued naira by 98%
PwC has reported that Tinubu’s monetary policies devalued the naira by a whooping 98%. PricewaterhouseCoopers (PwC) is one of the largest professional services...
BusinessNews
1500 CBN Staff Resumes in Lagos Office Following Relocation Plan
At least 1,500 Central Bank of Nigeria (CBN) staff members are set to resume work at the Lagos office on February 2, having...
BusinessNews
CBN Injects $500M into FX Market
The Central Bank of Nigeria (CBN) has recently injected an additional $500 million into the foreign exchange market, following a previous disbursement of...
BusinessFinance
F. Otedola’s Return to Forbes List
The billionaire entrepreneur Femi Otedola has returned to the Forbes list after an eight-year break. He shared the announcement on Instagram with a...