Business
CBN Discovers False 2.4 billion FX Backlog
In a recent interview with Arise Television, Central Bank of Nigeria (CBN) Governor Olayemi Cardoso disclosed that 2.4 billion of the $7 billion...
Nigeria’s Electricity Grid Collapses Again
Nigeria faced yet another electricity grid collapse on Sunday, plunging several cities, including the capital Abuja, into darkness. The Abuja Electricity Distribution Company...
Apple’s Vision Pro: Magic or a Mirage?
The Apple Vision Pro made its debut in US Apple stores on Friday, marking the tech giant’s first major release since the Apple...
CBN’s Recent Effort to Stabilize Nigeria’s Volatile Exchange Rate: a Policy Overload?
“CBN bans banks and Fintechs from International Money Transfers” “CBN mulls the conversion of 30bn domiciliary accounts to Naira” “CBN hikes import duty...
In 24 hours, CBN increased Import Duty by another 4.4%
The Central Bank of Nigeria (CBN) has raised import duty rates by 4.4 percent within 24 hours, causing uproar among importers and Customs...
CBN Denies Plan To Convert $30bn Domiciliary Deposits To Naira
The Central Bank of Nigeria (CBN) has refuted claims about converting the $30 billion in domiciliary bank deposits to local currency. In a...
Just In: Customs Approves 43% Increase in Import Duty
The Central Bank of Nigeria (CBN) has given the nod to a significant 43% hike in import duty rates, making it the fourth...
Tope Awotona: From Lagos to Tech Billionaire
Forbes has crowned Tope Awotona, a 42-year-old Nigerian-American, as the richest immigrant and Nigerian-American in the U.S. As the Founder and CEO of...
Femi Otedola Assumes Chairmanship of FBN Holdings Board
Femi Otedola has taken over as Chairman of the Board of FBN Holdings Plc, the parent company of First Bank. This transition occurred...
CBN Releases Foreign Currency Exposure Guidelines to Curb Insider Trading
The Central Bank of Nigeria (CBN) on Wednesday issued new guidelines to all commercial banks operating in Nigeria against hoarding and conjecture of...
“Women’s thirst for lace wigs devalue the naira”- AriseTV’s Rotus
Rotus, a broadcaster, has alleged that Nigerian women are partly responsible for the devaluation of the naira due to their thirst for lace...
Naira Hits All-time Low at N1482.57/$ 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....