Economy
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Naira in all time slump crashes to N2,000 per 1£; N1,673 per dollar at parallel market
Nigeria’s local currency is currently exchanging above N2,000 against the Great Britain Pound at the parallel market. A Bureau…
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Importers flee Nigerian ports as Customs exchange rate hits N1,515.092 per dollar
Many Nigerian importers are fleeing Nigerian seaports as distortions in the clearing process, occasioned by daily upward review of Customs…
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Naira continues in weakening spiral, hits 1,600 per dollar at parallel market
The foreign exchange crisis worsened Thursday as the local currency further depreciated, exchanging at N1,600 to a dollar at the…
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Nigeria’s inflation rate hits 29.9% amid rising food prices
Nigeria’s inflation rate increased to 29.9 per cent in January 2024 from 28.92 per cent recorded in December 2023 amid…
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Experts call for luxury tax as panacea to Nigeria’s dwindling revenue generation
Experts in taxation have taken a hard look at the state of the Nigerian economy and advocated for the introduction…
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IMF raises alarm on Nigeria’s economic situation, calls for urgent action
The International Monetary Fund (IMF), on Sunday, painted a stark picture of Nigeria’s economic situation, highlighting the country’s “difficult external…
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Buhari, not Tinubu responsible for Nigeria’s economic woes – Sanusi
A former Governor of the Central Bank of Nigeria (CBN), Mohammed Sanusi, has told Nigerians to blame former President Muhammadu…
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Nigerians spent $40bn on medical tourism, foreign education in 10years — CBN Governor
Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has revealed that between 2010 and 2020, Nigerians spent about…
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Naira weakens at parallel market, rises at official window
The naira strengthened at the official window on Monday, after the Central Bank of Nigeria Governor, Olayemi Cardoso, reassured that…
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BREAKING: Tinubu bans use of foreign currency for local transactions
In a move to address the alarming depreciation of the Naira against the dollar, the Central Bank of Nigeria (CBN)…
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