Naira depreciates to N1,530/$ in official market

16 May 2024

The Naira yesterday depreciated in the parallel market to N1,530 per dollar from N1,525 per dollar on Tuesday.However, the Naira yesterday appreciated to N1,459.02 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM. Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,459.02 per dollar from N1,520.4 per dollar on […]

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Inflation increases to 33.69%

15 May 2024

Nigeria’s headline inflation rate has increased to 33.69 per cent in April 2024 up from 33.20 per cent recorded in March 2024, the National Bureau of Statistics has said. This represents a month-over-month increase of 0.49 per cent points in the headline inflation rate, according to the Consumer Price Index report, the NBS stated in […]

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Reps accuse Binance of blackmail to divert attention

14 May 2024

The House of Representatives has accused the cryptocurrency company, Binance of blackmailing its members to divert attention and cover up the ‘heinous allegations of financial and economic crimes’ levelled against it by the Nigerian government. Chairman of the House Committee on Financial Crimes, Hon. Ginger Obinna Onwusibe made the allegations at a media briefing on […]

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Man calls out Sportybet over inability to access N14m in his account

13 May 2024

Sportsbet is in the news for a Nigerian customer’s complaint about the inability to access his account which he claims has a sum of 14 million nairas. Emenike said in a video recorded by The Punch that he has N14million in his Sportsbet account which he tried to withdraw but was logged out. Felix stated […]

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FG to collect fresh $2.25bn loan from World bank June 13

12 May 2024

The Federal Government is poised to receive fresh loan funding from the World Bank, with approval expected for loans totalling $2.25bn on June 13, 2024. The funding will be received via two major development projects. The first project is the Nigeria Reforms for Economic Stabilization to Enable Transformation Development Policy Financing, which is set to […]

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Nigerian stakeholders demand Binance reveal identity of bribe agent

08 May 2024

SIBAN’s executive secretary, Rume Ophi, stressed that Binance should reveal names to substantiate the claim and allow authorities to address wrongdoing. 364 Total views 1 Total shares Own this piece of crypto history Collect this article as NFT Nigerian cryptocurrency industry stakeholders are demanding that Binance reveal the identity of the official who attempted to […]

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Naira crashes, trades at N1,416/$1 at official window

08 May 2024

The Nigerian currency, the naira, reversed the gains recorded on Monday, May 6, 2024 to crash to N1, 416/$1 on Tuesday, May 7, 2024 data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) has shown. At the end of trading on Tuesday, the naira lost N62.36 against the dollar when compared to the previous exchange […]

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NAF aircraft crashes in Kaduna

04 Apr 2024

A Nigerian Air Force, NAF, Super Mushshak trainer aircraft crashed in Kaduna on Thursday. The Mushshak aircraft crashed at about 2:35 pm. A statement issued by NAF spokesman, Air Vice Marshal Edward Gabkwet, said no casualty was recorded as the two pilots escaped unhurt. “The accident, which occurred at about 3.5 nautical miles from Kaduna […]

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The Plan to Launch a Satellite from Nigeria in 2025 is no Longer Feasible

04 Apr 2024

  Halilu Shaba, the Director-General of the agency, conveyed this information during the ongoing 8th Science, Technology, and Innovation (STI) Expo, which revolves around the theme “STI: Solutions to National Economic Challenges.” According to the agency’s 25-year roadmap, part of its targets was to launch a Nigerian astronaut in space and an indigenous satellite from […]

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