CRYPTOCURRENCIES

The Naira yesterday appreciated to N1,730 per dollar in the parallel market from N1,740 per dollar last weekend However, the Naira depreciated to N1,681.42 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM. Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,681.42 per dollar from …

The federal government of Nigeria spent a total of $2.78 billion on debt servicing in the first seven months of 2024, data released by the Central Bank of Nigeria (CBN) has revealed. These figures were disclosed in the CBN’s recent ‘International Payments Data’ report, which also showed that Nigeria recorded $1.18 …

The Economic and Financial Crimes Commission today returned a total of $180,300 and 53 vehicles, fraudulently taken by some Nigerians from Canadian citizens to the Royal Canadian Mounted Police. This was revealed at the signing ceremony for the return of the recovered vehicles and funds.Speaking at the ceremony, the Executive …

Aliko Dangote, the Nigerian industrial magnate and chairman of the Dangote Group, has regained his title as Africa’s richest man, overtaking South African billionaire Johan Rupert.   According to the latest Forbes data, Dangote’s wealth currently stands at $11.7 billion, narrowly surpassing Rupert’s net worth, which has declined to $10.8 billion.This shift …

OPay has announced a new charge on electronic transfers into personal and business accounts in compliance with Federal Inland Revenue Service regulations. Starting September 9, 2024, a one-time fee of N50 will be applied to transfers of N10,000 and above. In a notice to its customers on Saturday, OPay stated, “Dear …

The Naira yesterday depreciated to N1,635 per dollar in the parallel market from N1,625 per dollar last weekend. However, the Naira yesterday appreciated to N1,585.77 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM.Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,585.77 per dollar …

The Naira yesterday depreciated to N1, 600 per dollar in the parallel market from N1,590 per dollar last weekend. However, the Naira appreciated to N1,579.22 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM. Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,579.22 per …

The World Bank Group Finances has revealed that the Federal Government is still repaying $10.6bn in loans obtained under former Presidents Olusegun Obasanjo, late Umaru Musa Yaradua, and Goodluck Jonathan. Recall that in June 2024, the Debt Management Office said as of March 31, 2024, Nigeria’s domestic and external debts …

By Kingsley Ugochukwu In a move to enhance regulatory oversight and investor protection, the Nigerian Securities and Exchange Commission (SEC) has introduced a new framework requiring all Virtual Assets Service Providers (VASPs), including crypto firms, to establish a physical office in Nigeria. The Accelerated Regulatory Incubation Programme (ARIP) aims to …

The Central Bank of Nigeria has lifted the six-week-,long restriction on onboarding new customers imposed on Paga, moniepoint, Kuda, OPay and PalmPay services. It can be recalled that on April 29, he Apex Bank barred the aforesaid MFBs/FinTechs from opening new accounts and accepting new customers over allegations that they …