Money
The Central Bank of Nigeria has crashed the dollar in the unofficial market by selling cheap dollars to BDCs and asking them not to sell to Nigerians at a rate.
The chairman of the EFCC, Ola Olukoyede, has revealed startling information regarding how banks throughout the country lost more than N8 billion in 2022.
The German government has introduced a special document, an Opportunity Card, for residents to easily search for employment in the country and other benefits
The Nigerian currency, the naira, continued depreciating against the US dollar in the official and unofficial markets despite efforts by the Central Bank of Nigeria.
Nigeria's foreign reserves dropped by $2.16 billion in March, hitting a seven-year low of $32.29 billion, according to Central Bank of Nigeria (CBN) data.
The federal government has secured discounted CNG prices from NMPDRA in preparation for bus rollout aimed at providing cheaper transport to ease subsidy pain.
To strengthen the flagging economy, the Central Bank of Nigeria has tightened monetary policy, which is restricting lenders (commercial banks) from extending loans.
In the 2023 financial year, five tier-1 banks, including Access, Zenith, UBA, GTB and First Bank, collectively amassed revenues amounting to N9.51 trillion.
Cement bags weighing 50 kg used to cost between N10,000 and N15,000, but in recent weeks, the price has plummeted dramatically to between N7,000 and N8,000.
Money
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