Business

Binance, a widely used crypt exchange with over 170 million users worldwide disabled its peer-to-peer feature for Nigerian users. Known as the P2P market, the network lets users, buyers, and sellers transact…

The Nigerian government has detained two executives of the Binance crypto exchange platform amid efforts to stabilise the nation’s foreign exchange market and salvage the value of the local currency. Sources familiar…

The Minister of Information and National Orientation, Mohammed Idris, on Wednesday, said the importation of Premium Motor Spirit, popularly called petrol, into Nigeria has reduced by 50 per cent since the withdrawal of…

The Presidency said cryptocurrency trading website Binance will destroy the Nigerian economy if not stopped. Special Adviser to President Tinubu on Information and Strategy Bayo Onanuga stated this in an interview on…

Two senior executives at Binance have been detained in Nigeria. According to Financial Times (FT), a UK-based business news outlet, the passports of the unnamed Binance executives were seized. FT gathered that the…

MTN Nigeria’s customers are currently experiencing difficulty in making calls and using their data as the company faces a prolonged downtime on its network. The telecom operator has, however, blamed the network on…

The Association of Pure Water Producers has expressed concerns over the skyrocketing prices of pure water sachets, warning that the cost may surge to N100 if urgent measures are not taken.  According to the association,…

Olayemi Cardoso, governor of the Central Bank of Nigeria (CBN), says the naira is undervalued largely due to distortions by perpetrators in the foreign exchange (FX) market. He spoke on Tuesday after heading his first…

Yemi Kale has assumed the position of Group Chief Economist & Managing Director of Research and International Cooperation at the African Export-Import Bank (Afreximbank).  Dr Kale was a former…

The Central Bank of Nigeria (CBN) has planned to sell N1.64 trillion in Nigeria Treasury Bills in the second quarter of 2024- March and May. The new offer is a refinancing of existing maturing treasury bills of…

The Dangote Cement Plc has emerged winner of the 2023 NatureNews Environmental Sustainability Award. The award was conferred on the company Tuesday at the…

Nigeria’s bureau de change (BDC) market has grown significantly since 2005. Within that period (2005 to 2006) there were less than 100 operational BDCs, with the Central Bank of Nigeria (CBN) selling dollars to the…

The United States dollar crashed against the naira at the cryptocurrency peer-to-peer market platform Binance, according to trade information seen by Nairametrics. As of 8 am on Wednesday, the dollar traded for as high as…

The Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, is slated to engage with foreign portfolio investors in a crucial meeting on Wednesday, February 28, 2024.  This strategic dialogue, organised by the…

The Monetary Policy Committee of the Central Bank of Nigeria has voted to increase the benchmark interest rate by 400 basis points to a record 22.75 per cent. The MPR was at 18.75 per cent. The MPC also made a bold…

The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, says himself and his team are not responsible for the current economic woes in the country. This was made known by Cardoso while answering questions from…

A former Deputy Governor, Central Bank of Nigeria, Kingsley Moghalu has commended the CBN for raising the Monetary Policy Rate (MPR) by four hundred basis points to 22.75 percent from 18.75 percent. Moghalu gave this…

The Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso has stated that the apex bank has paid another $400 million of valid FX backlog to those who were genuinely identified.   Mr. Cardoso stated while delivering…

Nigeria’s Central Bank Governor, Olayemi Cardoso has stated that about $26 billion has passed through Binance Nigeria. He took this question in…

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has raised benchmark interest rate by 400 basis point from 18 5 percent to 22.5 percent. CBN governor Yemi Cardoso disclosed the decision of the…

The Central Bank of Nigeria (CBN) has announced the sale of foreign exchange to Bureau de Change (BDC) operators in the country. This was contained in a memo signed by Hassan Mahmud, the director of Trade and Exchange…

It is no longer news that Don Jazzy owned Mavins has announced a major deal with global music firm, Universal Music Group. The deal has caused a stir on social…

First City Monument Bank (FCMB) has confirmed a fire incident on Monday February 26 on the 7th floor of its office at Macarthy Street, Lagos Island. The incident, it said, occurred by 6:10pm A statement by Group…

Foreign investors are holding off on new investments into Nigeria until the naira finds some stability. A fresh inflow of around $700 million…