Money
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CBN Suspends Charges On Cash Deposits
The Central Bank of Nigeria has decided to stop charging fees on cash deposits until September 30, 2024. The central bank shared this information in a memo dated May 6, 2024,…
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CBN orders implementation of Cybersecurity Levy by banks
The Central Bank of Nigeria (CBN) has directed deposit money banks in the country to start charging 0.5% cybersecurity levy on transactions. This was contained in a circular dated May 6,…
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CBN sells additional $10,000 to BDCs at $1,021 per dollar
The Central Bank of Nigeria, CBN, has approved the sale of an additional 10,000 dollars to 1,583 eligible Bureaux De Change, BDC, operators in the country to meet market demands. The…
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Naira slightly depreciates against dollar in official market
On Monday, the naira experienced a slight depreciation in the official market, trading at N1,234.49 to the dollar, according to data from the FMDQ Exchange, the platform overseeing the Nigerian Autonomous…
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Naira gains 7.2% against dollar
The naira on Friday experienced huge appreciation at the official market, trading at N1, 142.38 to the dollar. Data from the official trading platform of the FMDQ Exchange, a platform that…
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BREAKING: CBN begins sale of dollars to BDCs at N1,101
The Central Bank of Nigeria, CBN, has begun another tranche of dollar sales to Bureau De Change, BDC, operators to further boost the appreciation of the Naira in the foreign exchange market.…
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Naira Shows 2.4% Appreciation in Official Market
The naira gained at the official market, trading at N1, 278.58 to a dollar on Tuesday. Data from the official trading platform of the FMDQ revealed that the naira gained N30.81…
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NLC Chairman Lands In Prison For Diverting Palliative Funds
By Our Correspondent Comrade Muktar Tarbutu, the Chairman of the Nigeria Labour Congress (NLC) in Yobe State, has been remanded in prison following accusations of diverting palliatives intended for union members.…
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Naira Appreciates Against USD amid interest rate hike
By Miracle Ogunde Amid the latest increase in interest rate by the Central Bank of Nigeria, (CBN) the country’s currency, naira continues to record gains against the US dollar. Starnews NG gathered…
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BREAKING: CBN Hikes Interest Rate
By Miracle Ogunde In an effort to tackle rising inflation in the country, the Central Bank of Nigeria has raised the monetary policy rate, known as the interest rate, by 200…
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CBN lifts FX restrictions on importation of milk, dairy products
By Miracle Ogunde In a move to reduce prices of milk and other dairy products, the Nigeria’s apex bank, CBN, has lifted forex restrictions on the importation of milk…
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$6 billion fraud: We’ve power to prosecute you- EFCC tells Olu Agunloye
The Economic and Financial Crimes Commission (EFCC) has stated that it possesses the authority, supported by judicial precedents, to prosecute former Minister of Power and Steel, Olu Agunloye, regarding an…