The NDC has reportedly nominated a popular and influential critic of the APC as its governorship candidate in Lagos for the 2027 general elections.
Naira weakens to N1,360/$1 at the official market as tight FX inflows, lower oil receipts and reduced CBN interventions pressure currency stability across markets.
Latest data from FMDQ Securities showed the naira closed at N1484.75 to the dollar on the Nigerian Autonomous Foreign Exchange Market (NAFEM), continuing its fall.
A bank customer wrote asking for advice on what to do as he could not withdraw with his ATM card despite having over N22,000 in his current account balance.
The naira appreciated against the dollar in the black market, showing signs of recovery, even though it failed to replicate the performance in the official market.
Naira has depreciated in the official but appreciated in the black markets, as traders quote new exchange rates, reflecting the serious pressure in the FX markets.
The CBN's regulatory guidelines, establishing minimum capital base at N2 billion for Tier-1 and N500 million for Tier-2 operators, were rejected by BDC operators.
To keep up with competition in the industry and meet CBN's latest capital base requirement, Wema Bank PLC has announced plans to expand to the south-east.
The naira's inconsistent run against the dollar continues in the official and unofficial markets and FMDQ, the data provider, has shared more interesting insights.
First Bank of Nigeria Holdings Plc has declared a 40 kobo per share dividend for 2023, and billionaire Femi Otedola is set to pocket almost N1 billion.
The Bank of Industry (BoI) and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) have signed a deal to provide single-digit lending rates.
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