Contrary to the report making the rounds on X (formerly Twitter), Bureau De Change operators said there was no truth in reports that the dollar is now selling at N1,000 at parallel market. There have been rending reports on X that dollar is now selling at N1,000 in Abuja. The X post read, “This […]
Itse Sagay, a senior advocate of Nigeria (SAN), says the federal government should not use Boeing Max planes for Nigeria’s official carrier — Nigeria Air — because of its history of deadly crashes. Speaking with TheCable on Monday, Sagay, former chairman of the presidential advisory committee against corruption (PACAC), said Hadi Sirika, the immediate […]
The Central Bank of Nigeria (CBN) has issued a circular to Bureau De Change (BDC) operators informing them that they sold $10,000 to each BDC at a rate of N1,251 per US dollar. Nairametrics reports that the CBN, in a circular, instructed each BDC to sell the dollars to eligible customers at a rate […]
Binance, the global cryptocurrency exchange, has confirmed that its executive, Nadeem Anjarwalla, is no longer in Nigerian custody. The spokesperson for Binance, Samantha Fuller, disclosed this information to PUNCH Online via email on Monday. The crypto exchange said its concern continues to be the safety and well-being of its employees, and it is actively […]
In a significant move aimed at upholding fiscal responsibility and preserving the economic integrity of the nation, the Federal Government has taken legal action against Binance, a prominent cryptocurrency exchange platform. The charges, formally lodged at the Federal High Court in Abuja, were announced on Monday by the Federal Inland Revenue Service (FIRS). Designated […]
President Bola Tinubu has said the Federal government will henceforth patronise made in Nigeria goods as part of its strategy to further strengthen the Naira, urging Nigerians to also do same. Special Adviser to the President on Media and Publicity, Ajuri Ngelale, said this on behalf of his principal while addressing state house correspondents […]
Foreign airlines operating in Nigeria have said the Central Bank of Nigeria (CBN) was inaccurate in claiming it had cleared all foreign exchange (FX) obligations. Kingsley Nwokeoma, the Association of Foreign Airlines and Representatives in Nigeria (AFARN) president, said in an exclusive chat with BusinessDay newspaper that the bank was yet to clear foreign […]
With billionaire Femi Otedola in the saddle as its new Chairman, First Bank of Nigeria Holdings Plc, on Wednesday, appointed two new non-executive directors for the holding company and three new non-executive directors for the First Bank. Updating the Nigerian Exchange Group of recent development within the bank, the company’s Secretary, Adewale Arogundade, announced […]
The Central Bank of Nigeria (CBN) has announced that all valid foreign exchange backlogs of s$7 billion have now been settled, fulfilling a key pledge of its Governor, Mr. Olayemi Cardosoo. In a statement on Wednesday, the apex bank’s Acting Director, Corporate Communications, Mrs Hakama Sidi Ali, in Abuja confirmed that independent auditors from […]
Access Bank will acquire the National Bank of Kenya from the KCB Group, its second acquisition of a Kenyan bank in under five years. After purchasing Transnational Bank Limited. in 2019, this is the Nigerian lender’s second acquisition in Kenya. Access Holdings’ Secretary, Sunday Ekwochi, announced in a statement filed on the Nigerian Exchange […]
