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Banks in Nigeria will stop accepting old £20 and £50 notes from December 31, 2021, according to reports. This is to enable proper conclusion of cash evacuation. Fidelity Bank Plc disclosed this in an email to its customers on Wednesday, Nov 3, titled “Withdrawal of old 20 and 50 GBP notes from circulation”. The email […]
Continue ReadingCentral Bank of Nigeria has warned Nigerians to beware of fake social media handles of the newly launched digital currency, the eNaira. Nigerian President, Muhammadu Buhari, launched the central bank digital currency, called eNaira, on Monday. To access the eNaira, users have to download the ‘speed wallet’, which allows users to conduct transactions with speed […]
Continue ReadingAfrican Development Bank (AfDB) president, Dr. Akinwumi Adesina has faulted the lack of reliable power supply (electricity) as an obstacle to Nigeria’s industrial growth. Adesina said this on Tuesday at the 49th annual general meeting of the Manufacturers Association of Nigeria in Abuja. He stated that Nigerians spend $14 billion yearly on generators and fuel. […]
Continue ReadingAfter the launch of the application for the digital currency, the eNaira, on Monday, by President Muhammadu Buhari, the Central Bank of Nigeria has released the guidelines on charges and limits on eNaira platform. Below are ten things you should know about the platform: 1 – The charges for transactions that originate from the eNaira […]
Continue ReadingCentral Bank of Nigeria (CBN) has eventually launched its Central Bank Digital Currency called eNaira on Monday October 25. The Digital Currency had been scheduled to be launched on October 1, 2021, but was moved to a later date due to a clog of activities billed for Nigeria’s 61st-anniversary celebrations. The Naira digital system has […]
Continue ReadingNigerian currency, the Naira fell significantly against the U.S. dollar at the official market on Wednesday as it exchanged hands with the greenback at N415.10 per $1, the lowest rate ever recorded at that market segment, implying a N0.80 or 0.20% devaluation from N414.30 per $1 rate it exchanged on Tuesday. So, at the black […]
Continue ReadingA Nigerian Christian nurse will Tuesday tell an Employment Tribunal that she was bullied out of her job for wearing a cross around her neck at work. NHS theatre practitioner, Mary Onuoha alleged that series of campaign by bosses at Croydon University Hospital forced her remove the gold symbol. She had been a staff member for 18 years and […]
Continue ReadingCentral Bank of Nigeria (CBN) has announced the postponement of the launching of its Central Bank Digital Currency (CBDC), known as eNaira originally planned to be launched on October 1, Nigeria’s independence day. Speaking with newsmen in Abuja on Thursday, September 30, the Central bank of Nigeria (CBN) spokesman, Osita Nwanisobi, explained that the CBN […]
Continue ReadingCentral Bank of Nigeria’s (CBN’s) eNaira website has gone live ahead of the October 1 official launch. As stated on the website- www.enaira.com, “eNaira is a CB -issued digital currency that provides a unique form of money denominated in Naira.” Find out what makes the eNaira different from the money in your bank account — […]
Continue ReadingBitcoin has dramatically dropped in value after China’s central bank on Friday, September 24 announced that all transactions of crypto-currencies are illegal, effectively banning digital tokens such as Bitcoin and ethereum in the country. China is one of the world’s largest crypto-currency markets and 95 percent of crypto mining occurs in China. “Virtual currency-related business […]
Continue ReadingCentral Bank of Nigeria (CBN) has declared the founder of AbokiFX, Oniwinde Adedotun, wanted. AbokiFX is a website that publishes the parallel market exchange rate of the naira against other currencies. The CBN governor, Godwin Emefiele, while speaking on Friday, September 17, at the end of the 280th Monetary Policy Communique (MPC) meeting of the […]
Continue ReadingNigerian Naira further depreciated against the US dollar on Monday September 13, closing at N550 to $1 compared to N545 to $1 recorded in the previous trading session in parallel markets. From the data recorded on the FMDQ securities exchange window where forex is officially traded, naira closed at N412.75 per $1 at the official […]
Continue ReadingLagos State Ministry of Energy and Mineral Resources and the Ikeja Electric Plc (IE) has signed a Memorandum of Agreement (MoA) to boost power supply in the state. The agreement, signed at the Ministry on Tuesday, states that the Lagos State government would be financing the project, procuring and providing meters that comply with Ikeja […]
Continue ReadingNollywood actress Tonto Dikeh has been dragged into fresh drama amid her ongoing relationship crisis with her estranged lover, Prince Kpokpogri. Posted by iam_ikeonyema, is a viral audio recording of the Nollywood diva’s private conversation with Kpokpogri. Tonto Dikeh is heard begging her estranged lover, Kpokpogri, in the leaked voice note. In the recording, Tonto […]
Continue ReadingIn line with the judgement obtained in Rivers State which favours the States in Nigeria, Lagos State Government has introduced a Bill for the implementation of the collection of Value Added Tax (VAT) by the state and says no booby-trap will affect the programme. No booby-trap, was the position of Lagos State Attorney-General and Commissioner […]
Continue ReadingPresident of African Development Bank Group (AfDB), Akinwumi Adesina took to Twitter to share the adorable moment two powerful women took turns to straighten his bow tie. Adesina attended the Compact with Africa Conference with the German Chancellor, Angela Merkel, in Berlin, Germany. World Trade Organisation (WTO) DG, Ngozi Okonjo-Iweala, and International Monetary Fund (IMF) […]
Continue ReadingSelf-taught Nigerian engineer, Ignatius Asabor, who builds drones for agriculture, has been flown to Finland and offered immediate employment by a foreign company that saw and appreciated his talent. Ignatius, who makes special drones using local materials, was flown to Finland by the company who also employed him. Breaking the news on Linkedin, the Managing […]
Continue ReadingNigeria’s Naira fell further against the dollar at the parallel market on Wednesday after staying steady at 515/$ in recent days. It now fell to 517 against the US currency at the parallel market. The Naira weakened at the Investors and Exporters’ window by 0.06 per cent to close at 411.75/$ on Wednesday, according to […]
Continue ReadingCentral Bank of Nigeria (CBN) has explained why there is recent sharp depreciation of Naira against the United States Dollar. Responding to questions from members of the House of Representatives Committee on Finance during the 2022-2024 MTEF/FSP stakeholders interactive session on Monday August 16, CBN Deputy Governor, Corporate Services, Edward Adamu blamed the depreciation on COVID-19 pandemic, shortage […]
Continue ReadingFormer Governor of the Central Bank of Nigeria and the immediate past Emir of Kano, Sanusi Lamido Sanusi, said on Saturday that Nigeria had made zero progress in 40 years, that is, since 1981. Sanusi, who said this in Kaduna at a colloquium organised to mark his 60th birthday, maintained that the government must make […]
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