Latest Market Insights: CBN intervention sparks 7.7% surge in Naira-Dollar exchange rate

The Naira-Dollar exchange rate surged by 7.7% to close at N1,142/$1, marking a 10-week high. Central Bank policies are credited for the boost, aiming to achieve a sub-N1,000 rate. Market activities intensified with a $281.3 million turnover, reflecting growing confidence in the Naira’s strength.

Mining Operators Facing Billions in Unpaid Royalties, Says Minister Alake

The Nigerian mining sector has been rocked by revelations of massive unpaid royalties, with Minister of Solid Minerals Development, Dele Alake, stating that legally operating companies owe the federal government “trillions of naira.” Speaking during a visit from Mohammed Bello, Chairman of the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), Alake expressed his dismay at … Read more

Crypto hackers stole around $1.7 billion in 2023, report says

Hackers of cryptocurrency platforms and exchanges stole around $1.7 billion in 2023, around 54.3% lower than the year before, a Chainalysis report showed on Wednesday. Cyber attacks have been a persistent challenge for the crypto industry, and widespread hacking is one of the reasons why most regulators around the world frown upon crypto. Though stolen … Read more

World Bank approves $300M to bolster Ghana’s Economic Recovery

World Bank has approved a $300 million Development Policy Operation to Ghana, marking a significant step towards the country’s economic recovery. This funding comes at a critical moment, following Ghana’s recent deal to restructure $5.4 billion of external debt, signaling the government’s commitment to fiscal stability and sustainable growth. “The Government of Ghana remains firmly … Read more

Nigeria Secures $933M Global Funds GC-7 for Malaria, HIV/AIDS

The News: Nigeria has received a $933 million grant from the Global Fund to combat malaria, HIV/AIDS, and strengthen health systems. The grant will target specific interventions in malaria-prone states, expand HIV/AIDS services, and provide universal access to TB control programs. Investing in health is crucial for Nigeria’s development, and this grant has the potential … Read more

Apple Settles Russian Antitrust Dispute with $13.7 Million Payment

Russia’s FAS antitrust agency said on Monday U.S. tech giant, Apple, has paid a 1.2 billion ruble (approximately $13.7 million) fine levied by the Russian Federal Antitrust Service (FAS) in response to allegations of abusing its dominant market position in the app store payments landscape. The FAS investigation focused on Apple’s mandatory requirement for developers … Read more

Mike Adenuga has recently become the second Richest in Nigeria with $7.4 Billion Net Worth

Nigerian business mogul Mike Adenuga has shifted his position among the nation’s wealthiest individuals, rocketing to the coveted spot of second richest in Nigeria with a net worth estimated to $7.4 billion. This significant wealth surge dethrones Abdul Samad Rabiu from the runner-up position, pushing him down to third place. The sudden surge in wealth … Read more

FirstCentral Credit Bureau Login, Password, Contact and More

Going through the Nigerian financial landscape can be a complex steps, especially when you’re trying to securing credit. For lenders and borrowers alike, trust and accurate information are paramount. This is where FirstCentral Credit Bureau Limited steps onto the stage, playing a crucial role in making credit transactions smoother and more informed. FirstCentral Credit Bureau … Read more

GTBank, First Bank Implement New ₦50 Stamp Duty on Foreign Transactions Exceeding ₦10,000

Two of Nigeria’s leading banks, Guaranty Trust Bank (GTBank) and FirstBank, have begun levying a ₦50 stamp duty fee on all foreign transactions exceeding ₦10,000. {inAds} This new policy, effective immediately, applies to both debit and credit card transactions and inward transfer made in foreign currencies or settled in naira using a domiciliary account. The … Read more

Quidax Launched Free Deposits and Withdrawals After CBN Ban Lifts

In a move likely to spark jubilation among Nigerian crypto enthusiasts, Quidax, a leading local cryptocurrency exchange, has announced the launch of free deposits and withdrawals following the Central Bank of Nigeria’s (CBN) recent decision to lift its ban on crypto transactions. This comes as a major turning point for Nigeria’s burgeoning crypto space, which … Read more