Banking & Finance
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eNaira: App download nears 1m, only 282,600 currently active
Godwin Emefiele, governor of the Central Bank of Nigeria (CBN), says the eNaira application has so far recorded a total…
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Bank stops dollar transactions using naira debit cards
As a result of the increasing scarcity of foreign exchange in Nigeria, First Bank of Nigeria has suspended the usage…
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Nairaโs free fall continues, trades N692/$ at parallel market
The naira, on Tuesday, fell to N692 per dollar at the parallel market amid the lingering scarcity of the greenback.…
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Naira drops to N680/$ at parallel market despite EFCCโs clampdown
The naira, on Wednesday, weakened against the dollar at the parallel section of the foreign exchange market. Bureaux De Change…
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FX scarcity: EFCC raids BDC hub in Abuja over alleged dollar mop-up
Operatives of the Economic and Financial Crimes Commission (EFCC) have raided Wuse Zone 4, Federal Capital Territory, Abuja, over allegations…
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Titan Trust Bank completes takeover of Union Bank
Titan Trust Bank Limited (TTB) has brought to closure the deal enabling it to purchase a controlling stake in Nigeriaโs…
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IMF raises Nigeriaโs 2022 growth forecast from 2.7% to 3.4%
The International Monetary Fund (IMF) has projected the Nigerian economy to grow by 3.4 per cent in 2022, up from…
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Zainab Ahmed: FGโs N1.3trn electricity intervention fund didnโt produce significant result
Zainab Ahmed, minister of finance, budget and planning, says the N1.3 trillion intervention fund the federal government provided for the…
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Naira sinks to N587/$1 at parallel market as forex scarcity persists
Nigerian naira weakened to N587 per dollar at the parallel section of the foreign exchange (FX) market. The drop is…
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ABCON: CBNโs decision to discontinue FX sales to BDCs made naira worthless
The Association of Bureaux De Change Operators of Nigeria (ABCON) says the decision of the Central Bank of Nigeria (CBN)…
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