The naira has weakened to new low of N700/$1 at the parallel market as dollar demand pressure from retail end users persists.
The naira closed last week at N630/$1 and has stayed within the N620/$1 band for weeks before the current low.
Findings showed that although many black market dealers are asking for between N700 and N710/$1, actual transactions have stayed within N700/$1 band.
But Abudul…
The federal, state and local governments shared N802.407bn as federation allocation for the month of June, 2022. This represents 18 per cent increase from N681bn shared in May.
The sharing decision was reached at Federation Account Allocation Committee (FAAC)’s meeting…
Since the official declaration of economic recession in early 2016, Nigeria has experienced a proliferation of the world’s oldest scam, the Ponzi scheme.
In the wake of the economic crunch of 2016, the Central Bank of Nigeria and the International Monetary Fund had stated…
Famous Baker and cake designer, who runs the popular YouTube Channel ‘How to cake it’ Yolande Gampp from Toronto, Canada, top Nigerian bakers in Diaspora and bakers in Nigeria will facilitate sessions at Bakers’ seminar in Lagos slated for September 5-7 at the Eko Convention Centre, Eko Hotel and Suites.
The Convener Dewdrops Uncut Learning and CEO Dew Drops Cakes, Mrs Ezinne Okonkwo, stated…
Ahead of the rollout of the fifth generation (5G) technology by MTN Nigeria and Mafab Communications, Ericsson has completed its acquisition of Vonage Holdings Corp supporting its strategy to leverage technology leadership to grow its mobile network business and expand into…
The International Monetary Fund (IMF) has retained projected economic growth of 3.4 per cent for Nigeria in 2022.
The Washington-based institution disclosed this on Tuesday in its World Economic Outlook (WEO) for July 2022 entitled, “Gloomy and More Uncertain”.
At its…
Ecobank Nigeria has extended its innovative remittance services to its business account holders. This implies that Business Account holders can receive funds sent through Ecobank Rapidtransfer or any of its Remittance franchise partners through the Business to Business (B2B), Business to Customer (B2C) and Customers to Business (C2B) transaction types into their business accounts. The bank is also…
The Federal Government has drawn down the Excess Crude Account (ECA) to $376,655.09 from $35.377 million in May, this year.
This means that in one month the government withdrew $35,000,344.91from the ECA.
The ECA is supposed to be a savings buffer meant to steady the…
Zenith Bank Plc has been ranked as the number one bank in Nigeria by Tier-1 Capital in the 2022 Top 1000 World Banks Ranking published by The Banker Magazine.
For the 13 consecutive year, the bank retained its position as the number one Tier-1 bank in Nigeria with a Tier-1…
The Central Bank of Nigeria has disbursed N68.13bn to beneficiaries under its 100-for-100 Policy on Production and Productivity since the commencement of the intervention.
According to the bank, the CBN Governor, Godwin Emefiele, disclosed this in Lagos after the last Monetary Policy Committee meeting.
“Furthermore, under the 100 for 100 Policy on Production and Productivity, the Bank has…