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Economy
CBN Explains Revocation Of 4,173 Bureau De Change Operators’ Licenses
The Central Bank of Nigeria on Friday revoked the licences of 4,173 Bureau De Change operators over their failure to meet regulatory guidelines.
The apex bank disclosed this in a statement by its acting Director, Corporate…
Peter Obi Warns: CBN’s 22.75% Interest Rate Hike Will Exacerbate Economic Challenges
The Labour Party presidential candidate in the last general election, Mr Peter Obi, has criticized the recent decision of the Monetary Policy Committee to increase the Monetary Policy Rate, MPR, to 22.5% and the Cash Reserve Ratio, CRR, to…
JUST IN: Governor Makinde Addresses NLC Protesters Over Economic Hardship
Protest erupted in Ibadan on Tuesday as labour leaders kicked against economic hardship and called on President Bola Tinubu to the problem of hunger in the country.
In order to ensure that the protest doesn’t degenerate into anarchy, Oyo…
Urgent Action Needed: Pat Utomi Warns Naira Could Fall To N10,000 Per Dollar
Ace economist and chieftain of the Labour Party, Pat Utomi, has issued a stern warning that the naira may fall to N10,000 per dollar if nothing is done urgently.
Utomi gave this warning on Sunday at an event organised by activist Dr…
Nigeria Mulls Interest Rate Hike As CBN MPC Meeting Holds
There is an expected interest rate hike in Nigeria as the Central Bank of Nigeria Monetary Policy Committee meeting holds on 26 February (today) in Abuja.
The two-day meeting scheduled for 26 and 27 February is the first since the…
Price Of Indomie Noodles Surges To N18,000 Per Carton In Two Weeks
The price of Nigeria’s popular instant noodle, Indomie, surged to N17,500 to N18,000 per carton (120g super pack) from N11,140 on February 13 2024, DAILY POST reports.
A market survey by DAILY POST on Saturday in Wuse, Dutse and Utako…
Civil Society Groups Demand NASS Investigation Into $3.4bn IMF Loan
The Tax Justice and Governance Platform (TJGP) has appealed to the National Assembly (NASS) to investigate the movement and spending of $3.4 billion loan obtained by the Federal Government through the International Monetary Fund (IMF).…
CBN Issues Fresh Guidelines To Customs On Import Clearance Exchange Rate
Amid several customs exchange rate increases, the Central Bank of Nigeria has instructed the Nigerian Customs Service, NCS, to adopt a foreign exchange closing rate on the date of the ‘Form M’ submission by importers for the clearance of…
The Crypto-Naira Conundrum: How Binance P2P Plays A Role In Nigeria’s Currency Woes
If you go to Binance P2P, there is heavy manipulation going on there. And from my deductions, most of the big Binance P2P merchants are united in carrying out this manipulation. Some of them even have over $2 million worth of USDT in their…
Naira’s Fall: Onanuga Calls For Ban On Crypto Platforms, Says Binance Is Shut Down In Many…
The Special Adviser to President Tinubu on Information and Strategy, Bayo Onanuga has called on the Central Bank of Nigeria (CBN) and Economic Financial Crime Commission (EFCC) to clamp down on crypto-exchange channels from its operation in…