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Between June 2021, and June 2022, dollar-to-naira exchange rate has risen from N500 to N603 at the parallel market, signifying the greenback appreciated by 21 per cent within the one year period. Dollar exchanged at N603 (average) at Lagos and Abuja parallel markets on Tuesday, indicating a worsening liquidity crisis in the foreign exchange market […]
Continue ReadingDual Luxury World, a leading company in citizenship and permanent residency programmes, has unveiled BBNaija’s Erica Nlewedim, popularly known as Stargirl as its Brand ambassador. The Dual Luxury World brand is about providing you with a luxurious experience of freedom. The organization, in a bid to communicate this even more effectively took things a notch […]
Continue ReadingNigeria’s proposed National Carrier, Nigeria Air, has received the Air Transport Licence (ATL) to commence flying operation. Nigeria’s Ministry of Aviation shared the good news on its Twitter handle after the Licence presentation which was done at NCAA’s headquarters in Abuja, Nigeria. This moment is coming four years after the National Carrier was unveiled to […]
Continue ReadingNigerian singer, David Adeleke, popularly known as Davido, has expressed fear of the dollar exchanging for N1k soon. He has a genuine fear because there was a time in Nigeria that American Dollar ($1) was exchanging for Nigeria’s 60kobo (N0.60). In a tweet he shared, the singer averred that there is need for drastic action. […]
Continue ReadingFears of a further devaluation of the nation’s currency, the Naira, heightening on Monday as the Dollar exchanged at N600 at the parallel market. The rate at the Importers and Exporters Window was, however, N415.75 on Monday, widening the exchange rate spread to N184.25. Punch reports that, at Zone 4 in Abuja, which is the […]
Continue ReadingNigeria’s Securities and Exchange Commission (SEC) has released new rules for digital assets, providing more clarity on trading in cryptocurrencies in the country. Nigeria’s apex capital market regulatory body, SEC, published the guidelines ‘New Rules on Issuance, Offering Platforms and Custody of Digital Assets’ on its website, thus legalising digital assets such as cryptocurrency. The […]
Continue ReadingNigeria spent 86 per cent of its revenue on servicing debt in 2021, but South Africa spent only 20 per cent of its receipts on the same purpose, according to Punch. The International Monetary Fund’s 2021 Article IV estimates show Africa’s most populous nation spent 85.5 per cent of its revenue on servicing the debt […]
Continue ReadingPopular American based Nigerian business executive and philanthropist, Sandra Ijeoma Iheuwa simply called Sandra Iheuwa has taken to Instagram to praise herself about having four degrees. Sandra who shares a daughter with music executive, Ubi Franklin, noted that “school isn’t scam. “She disclosed in her post that she has 2 A.S, 1 B.Sc and 1 […]
Continue ReadingTwitter on Monday confirmed it is selling the platform to billionaire entrepreneur Elon Musk in a deal valued at $44 billion. The sale was a dramatic shift for the board, which had originally maneuvered to block Musk from taking the social media network private. “Free speech is the bedrock of a functioning democracy, and Twitter […]
Continue ReadingCentral Bank of Nigeria (CBN) has imposed an N800m fine on three Deposit Money Banks in the country for violating regulations barring customers from transacting in cryptocurrencies. Going by a Bloomberg report released on Wednesday, the three banks are Access Bank Plc, Stanbic IBTC, and the United Bank for Africa Plc. The report noted that […]
Continue ReadingThe lingering foreign exchange scarcity in the country has continued to worsen even as the exchange rate on the parallel market is inching towards N590 against $1 This is coming, over eight months after the Central Bank of Nigeria (CBN) stopped the sale of forex to Bureau de Change operators and promised to boost liquidity […]
Continue ReadingCommercial sex workers in Tana River County, Kenya, have elected to digitalize their business by forming WhatsApp groups led by various veterans in the trade. According to Nairobi News, the sex workers said they are yet to recover from the effects of Covid-19 despite the lifting of regulations by the government, thus forcing them to look […]
Continue ReadingGlobal oil benchmark, Brent crude, appreciated in price on Monday, moving up by 7.3 per cent or $7.88 to $115/barrel at 7.54pm Nigerian time as European Union nations considered joining the United States in a Russian oil embargo. Industry figures showed that the commodity has been gaining in price since about a week, as more […]
Continue ReadingEuropean Union (EU) has warned that consumers risk losing all their money invested in cryptoassets and could fall prey to scams. Releasing a joint statement on Thursday, March 17, European Union’s securities, banking and insurance watchdogs revealed that crypto consumers have no protections or recourse to compensation under existing EU financial services law. It marks […]
Continue ReadingInternational Monetary Fund (IMF) has projected that the Federal Government of Nigeria may spend 93 per cent of the country’s revenue on the payment of interests incurred on its debts by 2022. In a projection provided in the IMF’s ‘Nigeria Staff Report for the 2021 Article IV Consultation’ report, the Fund also projected that 139 […]
Continue ReadingSinger David Adeleke, popularly known as Davido, has hailed the mother of his son, Chioma’s culinary skills, declaring her as the world’s greatest Chef. The posts:
Continue ReadingNigerian media personality, Shade Ladipo has shared the challenges she faced after relocating to Canada. Ladipo in her Instagram post said she worked 18/hr cleaning gyms, took government money and no one wanted to hire her for what she was qualified for. She further revealed that she told herself that she will never take money […]
Continue ReadingThe Central Bank of Nigeria has revealed that it would stop the sale of foreign exchange to Deposit Money Banks by the end of the year. According to the CBN Governor, Godwin Emefiele, banks must begin to source their forex from export proceeds, hence the need to support non-oil exporters in the country. He pointed […]
Continue ReadingGovernor of Lagos State, Mr. Babajide Sanwo-Olu, has signed into law, a bill regulating Real Estate transactions in the state. Mr. Sanwo-Olu signed the bill at the Executive Chamber at the Lagos House in the Ikeja area on Monday. In attendance at the signing ceremony were the Commissioner for Housing, Moruf Akinderu-Fatai; the Attorney General […]
Continue ReadingA woman who spoke in pidgin and described as a Nigerian commercial sex worker has been spotted in a viral video complaining about her customer who she spent her time with. There was another pair (of a man and woman) in action on the same bed while this woman was talking to her own customer. […]
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