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BDC Operators Ask CBN To Abandon Official Rate
Bureau De Change operators have asked the Central Bank to abandon the official exchange rate and float the naira amid the recent crash of the currency.
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FBN Holdings’ Profit Grows By 48% As Assets Rise To N9.5trn
FBN Holdings says it recorded 48% in profit for the half-year period ended June 30, 2022, as its total assets grew by 6.6 per cent to N9.5 trillion.
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Nigerian Stocks Lose N869bn In One Week Over MPR Hike
The market value of the Nigerian stock fell by N869 billion in one week over the recent hike in the Monetary Policy Rate.
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Lekki Seaport Approved To Start Commercial Operations
President Muhammadu Buhari has approved the commencement of operations at the Lekki Deep Seaport in Lagos.
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NGX Remains In Red Zone For Eight Consecutive Days
The Nigerian Foreign Exchange (NGX) Limited remained in the red territory for eight consecutive days as it recorded a 1.04 per cent loss on Thursday.
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Airtel Loses N14bn Over SIM-NIN Linkage In Q2’22
Telecom firm Airtel Nigeria says it recorded N14.1 billion loss in the second quarter of 2022 (April to June) over failure of some of its customers to link their sim cards with the…
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Stanbic IBTC Receives Topmost GCR Rating AAA(NG) With Stable Outlook
Stanbic IBTC Holdings has received the highest rating by the Global Credit Ratings (GCR) with its national scale long-term issuer upgraded to AAA(NG) from AA+(NG) and affirmed the…
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Crypto, Nigerians Escape Route Amid Falling Naira
July 28 - Following the recent fall in the Naira to Dollar exchange markets, many Nigerians have resorted to taking advantage of the time and season, against the collapsing local…
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FCMB Records N15.4bn In Profit Before Tax In H1 2022
First City Monument Bank Group Plc recorded N15.4 billion in profit before tax deduction at the end of the first half of 2022.
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Meta Revenues Fall For The First Time As Advertising Sales Dry Up
July 28 - Revenues at Facebook-owner Meta have fallen for the first time as user growth dwindles and advertising revenues dry up. Sales in the three months to June…
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NGX Records 0.50% Loss As Naira Value Pushes Traders To Sell Stocks In Panic
The Nigerian Exchange (NGX) Limited key trading indices depreciated for the seventh straight session on Wednesday by 0.50%.
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JUST IN: Emefiele’s Failure Continues As Naira Jumps To N705 Per Dollar At Parallel Market
The value of the naira has fallen further from N705 to a dollar in the parallel market, findings by OduNews have revealed. This is as the country continues to suffer a shortage…
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NNPC Records Huge Loss As Subsidy Exceeds Oil Revenue By N210bn In H1 2022
The Federal Government recorded zero remittances to the federation account from the Nigerian National Petroleum Commission throughout the first half of 2022. According to a…
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Naira To Dollar Exchange Rate Further Falls To ₦685/$1 At Peer-To-Peer (P2P) Forex Market
July 27 - The exchange rate between the Nigeria Naira(₦) and the US dollar($) has fallen to a record low at ₦685.5/$1 in the peer-to-peer (P2P) forex market, findings by ODUNEWS from…
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Nigeria’s Excess Crude Account Falls To $376,655 From $35.7m
Nigeria's economic woes became more evident on Tuesday as the Federal Government disclosed that the country's Excess Crude Account balance has plunged by 98.9%, indicating a fall from…
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Naira Hits N688 Per Dollar At P2P Market
The depreciation of the Nigerian currency against the dollar continued on Wednesday with the currency being exchanged for N688 per dollar at the Peer-to-peer market.
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FAAC Disburses N802.4bn June Revenue To FG, States
The Federation Account Allocation Committee has disbursed N802.4 billion to the federal government, states and local governments. The funds represented Federation Revenue earned…
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Naira Weakens To N670 Per Dollar At Parallel Market
The value of the Naira is depreciating at an alarming rate with the currency exchanging for N670 per dollar on Tuesday at the parallel market.
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IMF Pegs Nigeria’s 2022 Growth Prospect At 3.4%
The International Monetary Fund has pegged the growth prospect of Nigeria in 2022 at 3.4%, OduNews reports. This was made known on Tuesday in the IMF World Economic Outlook (WEO)…
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Panic Sales In NGX As Stock Exchange Loses 1.11%
The Nigerian Exchange Limited (NGX) witnessed panic selling leading to the stock exchange plunging by 1.11% during the session.
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