The Central Bank of Nigeria (CBN) has announced its plan to implement a Retail Dutch Auction System (DAS) in an effort to address the increasing unmet foreign exchange (FX) demand from end users. This strategic initiative, as reported by Nairametrics, is set to commence next Wednesday and aims to alleviate the mounting pressure in the…
This decline marks the naira’s weakest performance in four months, with exchange rates fluctuating between a low of N1,500.32 and a high of N1,621.12
Jeff Bezos’s net worth plummeted by $15.2 billion on Friday, contributing to a broader market downturn that collectively wiped out $134 billion from the fortunes of the world’s 500 wealthiest individuals. Amazon.com Inc. shares fell by 8.8% during a widespread market selloff, reducing Bezos’s net worth to $191.5 billion, according to the Bloomberg Billionaires Index….
These initiatives include addressing institutional deficiencies, restoring corporate governance, strengthening regulations, and enforcing prudential guidelines and policies.
This transition to a new visa services provider aims to streamline and enhance the application process for Nigerian applicants.
The Central Bank of Nigeria’s Monetary Policy Committee (MPC) has announced a significant increase in the benchmark lending rate, raising it to 27.65 percent. This decision was revealed by CBN Governor Olayemi Cardoso following the 296th MPC meeting held in Abuja on Tuesday. The MPC has consistently adopted a stringent approach to control inflation since…
Dangote expressed his willingness to transfer ownership of the refinery in response to allegations of monopoly within the industry.
Aliko Dangote, the President of the Dangote Group, has raised concerns about the importation of substandard petroleum products into Nigeria, which are then sold to unsuspecting consumers. During a visit to the Dangote Refinery in Lagos State by the leadership of the House of Representatives, including Speaker Tajudeen Abbas and Deputy Speaker Benjamin Kalu, Dangote…
These new directives stipulate that any accounts which have remained inactive for a period of 10 years or more must be transferred to the custody of the apex bank.
The Senate, in response, expedited the readings and referred the bills to the committees on Appropriations and Finance for further legislative input, with a report expected within a week.
