The Naira today appreciated to N1,550 per dollar in the parallel market from N1,555 per dollar last weekend. The Naira depreciated marginally to N1,538 per dollar in the official foreign exchange market after recording steady appreciation last week. Data from the Daily Nigerian Foreign Exchange Market (NAFEM) published by the Central Bank of Nigeria (CBN), showed that the indicative exchange …

The Central Bank of Nigeria’s (CBN) electronic payment statistics have shown that, between January and June 2024, 252.06 million transactions, which amounted to N2.19 trillion, were carried out via Unstructured Supplementary Service Data (USSD) codes. This is a significant milestone compared to the full-year data for 2023, which showed that N4.84 trillion was transacted via USSD codes across 630.6 million …

Vice President Kashim Shettima has called on the Central Bank of Nigeria (CBN) and commercial banks to urgently address the growing concerns surrounding high and arbitrary charges imposed by Point-of-Sale (PoS) operators, which he described as an impediment to financial inclusion in Nigeria. Represented by the Special Adviser to the President on Economic matters, Dr Tope Fasua, the Shettima said …

The United Bank for Africa (UBA) plans to open a branch in Saudi Arabia as part of its expansion as a global bank. The Group Managing Director (GMD) Mr Oliver Alawuba, disclosed this at a send-forth dinner held in honour of the bank’s retired non-executive directors in Abuja on Wednesday night. He added that the bank would expand its operations …

The Naira yesterday appreciated to N1,695 per dollar in the parallel market from N1,725 per dollar on Tuesday. The Naira remained stable at N1,672.69 per dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM). Data from FMDQ showed that the indicative exchange rate for the naira has maintained stability since Monday following the commencement of live foreign exchange trade on …

In its determination to produce the next generation of young designers who will go on to capture the imagination of the world in fashion, Polaris Bank partnered, with Amtis Skills Place, a body dedicated to producing contemporary vocational skills to young Nigerians to identify, train and mentor young designers through the 2024 Amtis Fashion Competition. Since its inception in 2015, …

The Naira yesterday appreciated to N1,725 per dollar in the parallel market from N1,730 per dollar on Monday. The Naira was stable at N1,672.69 per dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM). Data from FMDQ showed that the indicative exchange rate for the naira has maintained stability since Monday. The volume of dollars traded (turnover) decreased by 18.2 …

The Central Bank of Nigeria (CBN) is reported to be preparing to retire approximately 1,000 employees as part of a strategic workforce realignment. A severance package worth over N50 billion was said to have been allocated as the payoff for the exercise. According to an insider, the retirement initiative is driven by the need to streamline operations and reduce staff …

The Naira yesterday appreciated to N1,740 per dollar in the parallel market from N1,745 per dollar on Wednesday. Likewise, the Naira appreciated to N1,644.86 per dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM). Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,644.86 per dollar from N1,660.83 per dollar on Wednesday, indicating N15.97 appreciation for …

The Naira yesterday appreciated to N1,745 per dollar in the parallel market from N1,755 per dollar on Tuesday. The Naira depreciated to N1,660.83 per dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM). Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,660.83 per dollar from N1,659.44 per dollar on Tuesday, indicating N1.39 depreciation for the …