Finance

Foreign education forex allocation tumbles 83% — CBN

Nigerians spent $38.17m on foreign education between January and March 2024, according to data from the Central Bank of Nigeria’s first-quarter 2024 statistical bulletin. The amount spent crashed by 83…

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Fact Check: No Evidence Bandits Use Starlink, Contrary to Bwala’s Claim

A recent claim by lawyer and political figure Daniel Bwala that criminal groups in Nigeria…

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Fuji Icon KWAM 1 Asked to Prove Lineage in Awujale of Ijebuland Race

The Fusengbuwa ruling house of Ijebu-Ode has directed popular Fuji musician Wasiu Ayinde, also known…

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Army Halts Officer Retirements as Nigeria Grapples with Surge in Kidnappings

The Nigerian Army has suspended all statutory and voluntary retirements for certain categories of officers…

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Adamimogo 105.1FM Finishes as Runners-Up in Oba Kola Daisi SWAN Football Tourney

An Ibadan-based radio station Adamimogo 105.1 FM has emerged as the runner-up in the second…

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Police Launch Investigation After Abduction of Cleric’s Daughter in Ibadan

The Oyo State Police Command has confirmed the abduction of Mrs. Ibukun Otesile, daughter of…

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Emery Plays Down Villa’s Title Hopes Amid Stunning Premier League Run

Unai Emery is adamantly refusing to frame Aston Villa as Premier League title contenders, even…

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Just for You

Tinubu; Nigeria Will Not Be Intimidated Despite Tension From International Community Over Purported Genocide

  President Bola Tinubu has declared that Nigeria will not be intimidated despite rising international…

Anambra Decides: 2.8 Million Voters Go to Polls in First Election Under New INEC Chairman

Over 2.8 million eligible voters across Anambra State will today decide who leads the state…

Precious Cornerstone University to Graduate 143 Students, 14 Bag First Class Honours

Precious Cornerstone University (PCU), Ibadan, is set to graduate 143 students at its 4th Convocation…

AEDC Sacks 800 Workers Amid Economic Hardship and Power Supply Challenges

The Abuja Electricity Distribution Company (AEDC) has embarked on a major retrenchment exercise affecting about…

Lasted Finance

CBN resumes dollar sales to BDCs, halts Naira depreciation

The Central Bank of Nigeria, CBN yesterday, announced the resumption of dollar sales to bureaux de change, BDCs, a development that reversed…

Illicit financial outflows cost Nigeria, others $50bn annually – Shippers’ Council

Nigeria and other African nations are losing $50 billion a year to illegal financial outflows, according to the Nigerian Shippers’…

Insurers’ assets hit N3.3trn as premium income rises by 51%

Despite the harsh operating business environment in the economy, insurance companies were able to grow their total assets by 36.9 per…

Global growth remains unchanged at 3% in 2024 – IMF

The International Monetary Fund (IMF) says global growth is projected to remain unchanged at 3.2 per cent in 2024 and…

Poverty alleviation: Court orders Buhari’s minister to explain N729bn disbursement

Justice Dehinde Dipeolu of the Federal High Court in Lagos has directed the former Minister of Humanitarian Affairs, Disasters Management…

Banks recapitalization will increase loans, advances — Proshare

Analysts at Proshare Nigeria, an online news media, have projected increased bank loans and advances among other things following banks’ recapitalization.…

Naira depreciates to N1, 520/$ in parallel market

The Naira yesterday depreciated in the parallel market to N1,520 per dollar from N1,515 per dollar on Tuesday. Similarly, the…

CBN to sanction banks for rejecting old, small Dollar denominations

The Central Bank of Nigeria (CBN) has threatened to sanction Deposit Money Banks (DMBs) for rejecting old and small denominations of…

Forex: Turnover in NAFEM rises 74% to $22.88 bn in H1’24

The volume of dollars traded (turnover) in the Nigerian Foreign Exchange Market, NAFEM, rose year-on-year (YoY) by 74 percent to $22.88 billion in…

CBN’s Interest Rate Hike Hindering Growth, Job Creation – Dangote

The President and Chief Executive Officer of the Dangote Group, Aliko Dangote, yesterday faulted the hike of interest rate to…