Business
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Despite dollar restrictions, MSMEs remain at the mercy of black market operators
Micro, Small, and Medium scale enterprises (MSMEs) in Nigeria are left at the mercy of black market operators to access dollars for transactions even after the Central bank pulled the plug on…
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CBN Retains Benchmark Interest Rate At 11.5%
The Central Bank of Nigeria’s Monetary Policy Committee on Tuesday retained the Monetary Policy Rate (MPR) at 11.5% and kept all other parameters unchanged. CBN Governor Godwin Emefiele made the announcement while…
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Titan Trust Bank Takes Over Union Bank
One of Nigeria’s newest commercial banks, Titan Trust Bank Limited is set to take over Union Bank of Nigeria Plc, the latter has announced. The Company Secretary of Union Bank, Somuyiwa…
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FG bans 2,000 from travelling for evading COVID-19 test
The Federal Government has imposed a travel ban on no fewer than 2,000 Nigerians and foreigners, restricting their movement in and out of the country. This was disclosed the National Incident…
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Ahead of October Launch, eNaira Platform Goes Live
The official website of the upcoming Central Bank of Nigeria’s (CBN) digital currency, the eNaira, has gone live, exactly one week to the planned launch of the initiative. Remarkably, 24-hours after the…
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Bitcoin Tumbles as China Declares Cryptocurrency Transactions Illegal
The Chinese government yesterday intensified its crackdown on cryptocurrencies by declaring that all crypto-related transactions were now illegal in the country. Bitcoin responded negatively to this crackdown when it fell by 5.49…
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Just In: Dollar crashes against Naira at parallel market
The naira held steady against the dollar at the parallel market on Monday at N509. The naira held steady against the greenback at the parallel market from the 509/$1 at which it…
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Twitter ban: Nigerians lose N150.46bn in two months
Nigeria businesses may have lost N150.46bn ($366.88m) since the Federal Government’s ban on Twitter took effect in the country on June 5. This figure was calculated based on the NetBlocks Cost of…
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How to get damages against bank over failure of ATM to dispense cash – Lawyer educates Nigerians
The Head of Research and Administration of Nwoko & Co Law office, Uyo, in Akwa Ibom State, Mr Ekom Nwoko (Esq), has educated Nigerians on social media on how to seek redress…
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Banks comply with CBN directive, commence sales of dollars to customers
Commercial Banks in Nigeria have set up dedicated teller points for FX transactions in compliance with CBN’s directive. Starnews Nigeria gathered that some of the banks had commenced selling of dollar at…
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CBN to refund capital deposits, licensing fees to Bureaux De Change
The Central Bank of Nigeria has said that it will commence an immediate refund of all outstanding minimum capital deposits and licence fees to Bureaux De Change promoters with the pending licence applications. Starnews…
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Cooking gas price rises to N500/kg as Dollar appreciates against Naira
Amid high unemployment and poverty levels in Nigeria The price of Liquefied Petroleum Gas, also known as cooking gas, has skyrocketed to a record high of N500 per kilogramme, forcing some…