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Nigerian activist, Aisha Yesufu, has decried the alarming spike in the dollar to Naira exchange rate, as one dollar is currently being exchanged for N920 at the parallel market. In a video she posted, Aisha said that some persons claimed that they dodged a bullet but instead ended up with a nuclear blast. While tackling […]
Continue ReadingNigeria’s Corporate Affairs Commission (CAC), in a public notice released on July 31, 2023, announced that it has initiated the striking off process for a list of companies that did not meet the requirements specified in the Companies and Allied Matters Act (CAMA) 2020. The comprehensive list titled “Strike off List-Batch-001 July-2023,” includes a total […]
Continue ReadingNigeria’s Naira exchange rate in the parallel market for Friday morning, July 14, 2023, as confirmed by Bureau de Change operators, is as follows: Date Currency Buying(NGN) Central(NGN) Selling(NGN) 14/07/2023 US Dollar 800.00 — 805.00 Pounds Sterling 1005.00 — 1,015.00 Euro 825.00 — 835.00 Date Currency Buying(NGN) Central(NGN) Selling(NGN) Meanwhile, the official exchange rate as […]
Continue ReadingMark Zuckerberg’s new App, Threads, has surpassed 95 million posts and 50 million profiles in record time Meta, the parent company of social media giants Facebook and Instagram, has made waves once again with the successful launch of its new app, Threads. Threads, in less than 24 hours since its debut, has witnessed an astonishing […]
Continue ReadingUnited States Federal Aviation Administration has certified for testing a vehicle described as a flying car — the first fully electric vehicle that can both fly on air and travel on roads to receive US government approval. California start up company, Alef Automotive said that its vehicle/aircraft, dubbed the “Model A,” is the first flying […]
Continue ReadingCentral Bank of Nigeria (CBN) has placed a N50,000 daily limit on contactless payments either through bank accounts or digital wallets. The CBN disclosed this on Tuesday in a circular titled: “Transaction Limits on Contactless Payments” signed by its Director, Payment System Management Department, Musa Jimoh. Nigeria’s apex bank also limited the amount per transaction […]
Continue ReadingA lecturer at the Federal University of Agriculture, Abeokuta, Prof. Samuel Oluwalana, has said Nigeria is losing a huge amount of money for its failure to export human faeces, cockroaches, as well as, scorpions to foreign countries. The lecturer noted that the American government gets $3.5 billion every year because it is used to protect astronauts […]
Continue ReadingThe exchange rate between the naira and dollar sold for an intra-day high of N815/$1 at the official Investor & Exporter Window on Wednesday, June 21, 2023. The N815/$1 rate is the highest rate traded for the dollar on the official market since records tracking started in 2018. The exchange rate however closed at N763.17/$ […]
Continue ReadingNigeria’s currency, the naira slumped further to the dollar after closing at 770.38/$ at the end of trading on the Investor & Exporter (I&E) forex window on Monday. According to figures obtained from the Financial Markets Dealers Quotations (FMDQ) on Monday, the trading rates had closed at N686.96/$ on Friday. Trading opened at N703.50/$ and […]
Continue ReadingIn a statement, the Central Bank of Nigeria (CBN) has announced that cash deposits into domiciliary accounts in the country will no longer be restricted. The statement by the apex bank came following a meeting with the bankers’ committee on Sunday, June 18, as regards guidance to Deposit Money Banks (DMBs). The guidance includes allowing […]
Continue ReadingNigeria’s currency, the Naira has on Friday, June 16, closed at N663 to the United States dollar at the Investors and Exporters (I&E) window. This has been considered a big gain as the Naira closed at N702 to a dollar on Thursday, June 15. The CBN has already ditched its previous official rate of N463 […]
Continue ReadingAs a popular Nigerian chef, Hilda Effiong Bassey, aka Hilda Baci, is waiting to be certified as Guinness World Record holder for longest cooking marathon by an individual with her 100 hours, another Nigerian chef, identified as Damilola Adeparusi has begun 120 hours cooking marathon in Oye Local Government Area of Ekiti State. Adeparusi simply […]
Continue ReadingBritain’s financial regulator on Thursday tightened rules over the promotion and selling of cryptocurrency as it seeks to protect consumers. The Financial Conduct Authority unveiled a package of measures for the industry, which has long faced criticism over the lack of oversight — and promises of high returns in a volatile marketplace. Under the new […]
Continue ReadingWorld’s richest man and CEO of Moët Hennessy Louis Vuitton (LVMH), Bernard Arnault, lost $11.2 billion in one day, but he is still wealthier than Elon Musk. Musk is the second richest man in the world, with a net worth of $180 billion, $12 billion less than the 74-year-old CEO’s own $192 billion. LVMH, which […]
Continue ReadingBillionaire Nigerian businessman, Mr. Femi Otedola has accused the chairman of Transnational Corporation of Nigeria (Transcorp), Mr. Tony Elumelu, of backstabbing him repeatedly at his most vulnerable moments in business. This came to light on Tuesday in a statement he issued to TheCable, weeks after the businessman acquired stakes in Transcorp and sold the shares. Otedola […]
Continue ReadingModern inventions have rapidly changed the world. From writing letters with pen, ink and paper and taking the letter to the Post Office for postage that may take days, weeks or even months to get to their destinations; to writing email or faxing documents that will get to their destinations almost immediately they are sent […]
Continue ReadingChinese e-commerce giant group, Alibaba has announced that it would split into six smaller business units, according to News Agency of Nigeria (NAN). The split will include online trading, media and cloud services, turning the $220 billion company into a tech holding company. In an unusual move in China, each unit will have its own executive board […]
Continue ReadingFacebook parent company, Meta, announced a fresh wave of job cuts on Tuesday, March 14, as the US tech sector continues to downsize. In an email to employees, Zuckerberg said Meta would shed 10,000 jobs over the next few months, targeting middle management, and that 5,000 other roles would remain unfilled. The cuts follow a […]
Continue ReadingNigerian Supreme Court has ruled that the old N200, N500, N1,000 notes remain valid and should be in circulation till December 31, 2023. In a ruling delivered today March 3, the apex court also nullified the Federal Government’s naira redesign policy, declaring it as an affront to the 1999 Constitution. Justice Emmanuel Agim who read […]
Continue ReadingNigerian Supreme Court, on Wednesday adjourned the new naira policy suit to March 3, 2023 for judgement as the court did not do much on the contempt application filed by the plaintiffs against AGF Abubakar Malami and CBN governor, Godwin Emefiele. Responding to counsel for Lagos State, Moyosore Onigbanjo on the issue of contempt, Justice […]
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