Naira crumbles to 920/$, fuel marketers push for fresh price hike The local currency weakened against the greenback at the black market from 900/dollar on Wednesday to 920/dollar on Thursday, raising further concerns about whether the pump price of petrol could be sold at the current price. Okechukwu Nnodim, Oluwakemi […]
She-suite: African women lead the way in global boardrooms Africa has the world’s highest female representation in corporate boardrooms but barriers still hold women back. Photo- Kenyan Faith Nkatha Gitonga, 39, a digital transformation specialist smiles for a photo in this undated handout photo. Faith Nkatha Gitonga/Handout via Thomson Reuters […]
Bank customers lose N472 million to fraudsters in Q1 2023 – FITC The FITC data also revealed that there was a 79.44% decrease in the total amount involved in fraud cases in Q1 2023 compared to the previous quarter. The sum decreased from N12.58 billion to N2.59 billion. Samson Akintaro […]
Nigeria’s Soaring Stock Market Rally Is Being Driven By Banks Nigerian banks stand to profit from their holdings of US dollars, which are now more valuable after the collapse in the naira. The currency has fallen almost 40% against the greenback since June 14, according to Lagos-based FMDQ. Emele Onu […]
Seplat Looks to New Nigerian Leader to Complete Exxon Oil Deal Former President Muhammadu Buhari, who doubled as Nigeria’s oil minister, endorsed the sale in August before swiftly rowing back after the country’s energy regulator rejected his approval. William Clowes (Bloomberg) — Seplat Energy Plc remains committed to purchasing Nigerian […]
External Reserves Fall By $3bn In Six Months – CBN The CBN revealed in its figures on movement on foreign reserves that the reserves which commenced January 3, 2023 at $37.07bn fell to $34.22bn as of the end of June 26, 2023. Kazeem Tunde Nigeria’s external reserves fell by $2.85bn in […]
Nigeria’s mobile money system has a dark side even though it’s convenient – new study explores the risks A 2021 World Bank report shows that only 45% of Nigerian adults have bank accounts. Another 2021 study shows that nearly one in two adults don’t use any formal financial services. Author […]
Stakeholders Count Gains of Airtel, MTN’s 5G Rollout Airtel, last week, joined other telecoms operators to roll out its 5G network in four states, with a promise to cover the entire states in Nigeria by the end of the year. Telecoms industry stakeholders believe that the last week’s roll-out of […]
How To Set Up A Licensed Mobile Virtual Network Operator (MVNO) Company in Nigeria MVNO licensing and post-licensing regulatory compliance is under the jurisdiction of the Nigerian Communications Commission (NCC) pursuant to the Nigerian Communications Act. by Emmanuel Ifeanyi Ogbuka | As an investor, one way of gaining entry into the Nigerian […]
CBN lifts cash deposit restriction on domiciliary accounts, allows $10k withdrawals daily The policy changes aim to promote transparency, liquidity, and price discovery in the FX market to improve supply, discourage speculation, enhance customer confidence, and ensure overall stability. A view shows Nigeria’s Central Bank headquarters in Abuja, Nigeria […]
