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Protecting Food Supply Chain: Truck Drivers Threaten Strike Over Rising Attacks. Truck drivers across the nation are on the brink of a potential strike due to the escalating attacks they endure while transporting essential food items. These attacks, predominantly…
Oprah Winfrey Resigns from Weight Watchers: A Significant Shift in the Company’s Direction. Oprah Winfrey, renowned as the world’s wealthiest black woman with a staggering net worth of $2.8 billion according to Forbes, is bidding farewell to her nearly…
U.S. Dollar Sees First Weekly Dip in 2024, Naira Gains Momentum. In the latest currency market movements, the U.S. dollar index is poised for its inaugural weekly decline of the year, while the Nigerian naira exhibits strength in both…
Nigeria Anticipates $22.82 Billion Investment from 1068 Approved Oil Projects. The Nigerian government has unveiled plans for an estimated $22.82 billion investment across 1,068 oil and gas projects greenlit between 2022 and 2023. These projects, spanning the nation, signal…
Federal Government Initiates $120 Million Payment to Gas Suppliers to Boost Production. The Federal Government has taken significant steps towards stimulating gas production in Nigeria by making a payment exceeding $120 million to gas suppliers. This payment is part…
Central Bank of Nigeria (CBN) Revokes Licenses of 4,173 BDCs: Regulatory Update. In a significant regulatory move, the Central Bank of Nigeria (CBN) has announced the revocation of operational licenses for over 4,000 Bureau De Change (BDC) operators under…
Boosting the Naira: MAN Urges FG Support for Local Producers. The Manufacturers Association of Nigeria (MAN) has urged the Federal Government to bolster the country’s economy and enhance the international value of the naira by backing local producers. This…
Addressing Forex Concerns: Insights on Binance Nigeria’s $26 Billion Transactions, Cardoso Reveals. Nigeria’s forex landscape has been under scrutiny, with Central Bank Governor, Olayemi Cardoso shedding light on the staggering $26 billion flowing through Binance Nigeria within a year.…
Understanding Naira’s Undervaluation: Insights from Olayemi Cardoso. In a recent statement at the Monetary Policy Committee Meeting on February 27, 2024, Olayemi Cardoso, the Central Bank Governor, shed light on the undervaluation of the Nigerian Naira, attributing it to…
Nigerian Stock Exchange Witnesses N773 Billion Decline in Equities: Market Update. The Nigerian Stock Exchange (NSE) recently experienced a slight downturn in its key performance indicators, amidst prevailing bearish sentiment, resulting in a dip of 1412.64 points in the…
CBN Governor, Olayemi Cardoso, Dismisses Blame for Nigeria’s Economic Struggles. In a recent statement, Olayemi Cardoso, the Governor of the Central Bank of Nigeria (CBN), refuted claims that he and his team are accountable for the nation’s ongoing economic…
CBN Auctions N1.58 Trillion in Treasury Bills, Sets Interest Rate at 19% for 364-Day Bill. In its latest Treasury Bills auction, the Central Bank of Nigeria (CBN) successfully sold N1.58 trillion, underscoring its commitment to managing liquidity in the…