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Central 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 […]
Continue ReadingNigeria’s Securities and Exchange Commission (SEC) has announced that the total unclaimed dividend in the Nigerian capital market stood at N170 billion as of December 2020. The Director-General of SEC, Mr Lamido Yuguda, disclosed this on Friday, August 13 at the second post-Capital Market Committee (CMC) virtual news conference. Yuguda said: “The figure had increased when […]
Continue ReadingNigeria’s Naira pared some of its recent gains against the dollar at the parallel market on Wednesday amid the lingering scarcity of the greenback in the country. Nigerian currency, the Naira fell to 515 against the dollar at the parallel market from 510 on Tuesday. The naira had strengthened to 506/$ on August 4 after […]
Continue ReadingIt was truly a weekend to remember as Hawaii Nigeria renew their contracts with Mercy Eke, Sophie Alakija, and Venita Akpofure as brand ambassadors and treated them to an exclusive night out at Vellett night club, Victoria Island. Friends were invited to celebrate this amazing win for the ladies on the 31st of July. In […]
Continue ReadingAlhaji Aliko Dangote, Africa’s richest man, has been ranked 117th in the latest Bloomberg world highest billionaires Index. This was captured in a daily ranking of world’s richest people which is updated at the close of every trading day in New York. While Elon Musk tops the list with a net worth of $194bn and […]
Continue ReadingLagos authorities have slammed a N20,000 levy on Lagosians planning to host any event in Ikeja Local Government. The local government decision was contained in a memo signed by the chairman of Ikeja local government, Mojeed Balogun, in line with the Lagos State Government harmonized approved rates/levies payable, which was sent to event organisers and […]
Continue ReadingNigeria’s currency, the Naira has crashed to a four-year low in the parallel market after the Central Bank’s efforts to coax banks to sell more Dollars to customers failed to bridge the widening gap between the official and street rates. Prohibited dealers were offering the naira at 502 per dollar on Wednesday, June 16, from […]
Continue ReadingBen Akabueze, the Director General (DG) of the Budget Office of the Federation, on Tuesday said cutting budget allocations to Federal Government agencies would not have a significant impact on Nigeria’s revenue. The DG said this in Abuja at the launch of the Nigerian Development Update by the World Bank. According to him, allocations to […]
Continue ReadingThe House of Representatives has asked the Central Bank of Nigeria to urgently put in place a policy to check further devaluation of the naira to the United States dollar and other international legal tenders. The House decried that while the Nigerian currency was losing value, others in African were appreciating. At the plenary on […]
Continue ReadingNigeria’s naira exchanged to the dollar at N490/$ at the parallel market on Thursday. According to naijabdcs.com, the official exchange rate website of the Central Bank of Nigeria for the Bureau de Change operators, the country’s currency was bought and sold at N488/490 to the dollar as of Thursday evening. The naira had earlier exchanged […]
Continue ReadingNigeria’s currency, the Naira on Wednesday fell to N493 per dollar at the parallel market, shading N6 from the N487/$ it exchanged on Tuesday, May 25, 2021. When compared to the N486/$1 that was recorded on Monday, the local unit had dropped N1 The pressure on Nigeria’s currency is attributed to black market speculators who […]
Continue ReadingBitcoin plunged below $40,000 for the first time in more than three months Wednesday after China said cryptocurrencies would not be allowed in transactions and warned investors against speculative trading in them. The comments sent the unit diving more than 10 per cent and dealt it another blow soon after being battered by comments from […]
Continue ReadingThe state-owned vehicle manufacturer Kiira Motors plans to start production of electric vehicles in Uganda in July 2021. The plant that is under construction in Jinja shall make 5,000 electric buses and other EVs per year. Watch video below: Video: Kiira Motors, Youtube
Continue ReadingVerizon announced on Monday it was selling internet stars Yahoo and AOL to a private equity firm for $5 billion, ending the online media ambitions of the telecoms giant. The deal with Apollo Global Management also includes the entire Verizon Media unit, including the advertising tech operations of the two brands. Verizon will retain a […]
Continue ReadingThe beautiful lady is here. Her profession is to massage men’s balls and to wake up Mr. D itself when it is too weak and soft to do its job. She works on women also. She says that is what she does for a living. Watch her video below: Video: Vibes in 5, Youtube. Photo: […]
Continue ReadingAmazon, an American multinational technology which focuses on e-commerce, cloud computing, digital streaming and artificial intelligence, has announced that it will be opening its African headquarters in South Africa with a real estate investment of over $279 million (R4 billion). The 15-hectare parcel of land is located at a new development in River Club, a prime section of […]
Continue ReadingA beautiful Nigerian lady has gone viral after she shared what she does for a living. She tweeted photos of herself “making money” and “spending money”. The photos show that she farms and then fries garri to make money. Another photo shows her looking flawless while slaying as she “spends money”. Her tweet got over […]
Continue ReadingCryptocurrency exchange Coinbase made a scorching stock market debut Wednesday amid frenzied interest in bitcoin and other virtual currencies despite concerns about a bubble. The enterprise, the first company devoted entirely to cryptocurrency to enter the US stock exchange, immediately garnered an overall market valuation of $100 billion, bigger than that of General Motors and […]
Continue ReadingManagement of Dangote Cement Plc. has said that the price of a bag of cement from its factories and plants in Obajana and Gboko is N2,450, and N2,510 at Ibese. The company’s Group Executive Director in charge of Strategy, Portfolio Development, and Capital Projects, Mr Devakumar Edwin, stated this in a statement made available to […]
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