CRYPTOCURRENCIES

The naira dipped to N1,600 against the dollar on Friday as Nigeria’s economy continues to hurt. According to Aboki Forex, the naira plunged to N1,600 to $1 despite efforts by the Central Bank of Nigeria to salvage the free fall of the naira. Though the naira had been on a …

CBN Governor Yemi Cardoso appearing before the Joint Senate Committee on Finance, Banking, Insurance and Financial Institutions on Friday, February 9 said the measures taken so far by the apex bank to stabilize foreign exchange rates have started yielding positive results. According to Cardoso, the measures would help to stabilise …

Amid its fresh moves to stabilise the nation’s volatile exchange rate, the Central Bank of Nigeria has ordered Deposit Money Banks to sell their excess dollar stock latest February 1, 2024. The CBN, which made the disclosure in a new circular released on Wednesday, also warned lenders against hoarding excess …

The Senate today summoned the governor of the Central Bank of Nigeria, CBN, Olayemi Cardoso over the free fall of the Naira and hyper inflation. The summon was through its Committee on Banking, Insurance and other Financial Institutions headed by Senatorial Adetokunbo Abiru. The governor and his team were asked …

The naira yesterday depreciated to N1,355 per dollar in the parallel market from N1,350 per dollar on Monday“ . However, the naira appreciated to N878.61 per dollar in the Nigerian Foreign Exchange Market (NAFEM).“ Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N878.61 per dollar …

President of Dangote Group, Aliko Dangote has retained his position as the richest person in Africa with a net worth of $13.9 billion, in the 2024 Forbes list of 20 of Africa’s Richest billionaires released yesterday. According to Forbes, the fortunes of Africa’s wealthiest people rebounded slightly in the past …

The naira yesterday fell to N1,260 per dollar in the parallel market from N1,240 per dollarSimilarly, the naira depreciated to N890.54 per dollar in the Nigerian Foreign Exchange Market (NAFEM). Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N890.54 per dollar from N874.79 per dollar …

The Central Bank of Nigeria has announced a new appointment of executive officers for Union Bank, Keystone Bank, and Polaris banks following the dissolution of the board of the banks on WednesdayThe acting director of Corporate Communication, Sidi-Ali Hakama, made this disclosure in a circular dated January 10, 2024. According …

With foreign reserves of $32.8 billion, the lowest in a six-year, analysts predict further depreciation in 2024. The outlook of Nigeria’s naira in 2024 is gloomy as the currency of the largest black country in the world is poised for its worst year since the return to democracy in 1999. …

NigeriaUs reports that the findings of Jim Obaze, the Special Investigator appointed by President Bola Tinubu to probe Godwin Emefiele’s tenure as the governor of the apex bank, have sparked reactions in Nigeria. According to the report, Emefiele allegedly utilized proxies to acquire certain new-generation banks during his CBN governorship. …