Business

The Central Bank of Nigeria (CBN) has banned the use of foreign currency-denominated collaterals for obtaining naira loans, except under specific conditions. This was conveyed through a circular distributed to all Nigerian…

The Nigeria Customs exchange rate of import duties and cargo clearance has dropped below the official market of N1251/$. Checks on the Nigeria Customs foreign exchange portal reveal that the exchange rate of import…

First City Monument Bank (FCMB) has reaffirmed its commitment to sustainable manufacturing that minimizes negative environmental impact while conserving…

The Central Bank of Nigeria (CBN) has issued a circular to Bureau De Change operators (BDCs), informing them of the sale of $10,000 to each BDC at a rate of N1,101/$1. In a circular seen by Nairametrics, each BDC is…

A Federal High Court in Abuja has remanded a Binance executive, Tigran Gambaryan, in Kuje Correctional Centre, pending the determination of his bail application. The trial judge, Justice Emeka Nwite, gave the order after…

The Central Bank of Nigeria (CBN) has ticked offnearly all items on its long-awaited monetary policy reform list, buying time for the government to chart a much-needed path to long-term and more sustainable dollar…

Sim Shagaya is a Nigerian media and technology entrepreneur and the brilliant mind behind Miva Open University. He has left an indelible mark on the education landscape in Africa, along with several innovative ventures…

An Executive of Binance Holdings Limited, Tigran Gambaryan, has pleaded not guilty to the money laundering charges preferred against him by the Economic and Financial Crimes Commission. Gambaryan was arraigned on Monday…

According to data obtained from FMDQ’s website, total inflows into the Nigerian Autonomous Foreign Exchange Market (NAFEM) increased by 41.7 per cent m/m to $3.75…

…Firms Still Face Higher Costs Of Production Following Dollar Shortage The recovery of the nation’s currency, the naira, against the…

KPMG, a global audit, tax and advisory services company, has posited that the recent decision by the Central Bank of Nigeria (CBN) to…

AS the Nigerian National Petroleum Company, NNPC Limited, moves to end petrol scarcity in Lagos and its environs, Dangote Refinery and oil marketers have intensified efforts at taking final decisions on pricing and…

Nigeria’s foreign exchange (FX) reserve has experienced a sharp decline of about $1.02 billion within 18 days, as the Central Bank of Nigeria (CBN) continues its aggressive defence of the naira. As of April 4, 2024, the FX…

The Lagos State Government has mandated supermarkets and grocery stores throughout the state to display price tags on all products, warning that failure to comply may result in the sealing of non-compliant establishments.  The warning…

The Association of Bureaux De Change Operators of Nigeria (ABCON), the umbrella body of all Central Bank of Nigeria (CBN)-Licensed Bureaux De Change (BDCs) in Nigeria yesterday appealed to the apex bank to adjust and…

Mark Zuckerberg is now richer than Elon Musk, becoming the third-richest person globally, and marking the first time since 2020 that the rival billionaires have held these positions. Musk, who recently topped the…

In the fast-paced and ferociously competitive airline sector, price wars have become like Siamese twins that can not be separated by the actors, as a surviving strategy. While price wars are a common occurrence in the…

Investors in one of Nigeria’s many agritech crowdfunding platforms, Agrorite, have petitioned the Economic and Financial Crimes Commission (EFCC) to help them recover their more than N3 billion trapped in the company’s…

• Cost of labour, farm inputs and transportation still high, says Suberu• Only mechanised farming will address Nigeria’s food crisis – Apeji• ‘Insecurity is a major factor government must address to encourage farmers…

The increase in the minimum capital requirement for banks to operate in Nigeria can strengthen lenders competitive position against international and pan-African banking groups, S&P Global Ratings has said. The Central…

The naira on Friday appreciated to 1,245 per dollar on the parallel market, stronger than the rate at the official and Bureau De Change (BDC) segment of the foreign exchange (FX) market. At the official FX market, the…

Yields in the Treasury Bills market increased at a much higher rate to 17.67 percent as at March 26, 2024 from 6.29 percent at the beginning of the year. This follows the unprecedented rise in the monetary policy rate by…

President Bola Tinubu, on Friday, thanked the Central Bank Investigator, Mr Jim Obazee, for his services, officially closing the months-long investigation. “Subsequent to the conclusion of the assignment and the submission…

The recent directive of the Central Bank of Nigeria (CBN) to all banks in the country to further capitalise might be an impossible task for the First Bank…