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Business and Economy
Fitch Warns CBN Regulations Could Harm Economic Stability
Fitch Ratings has cautioned that the Central Bank of Nigeria's (CBN) new regulations could impede the banking sector's ability to support Nigeria's economic recovery....
Electricity Tariff Hike: Labour Unions Shut Down NERC, DisCos Nationwide
The Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) launched a nationwide shutdown of electricity distribution companies (DisCos) and the Nigerian Electricity...
$1.3bn Futures: Naira Faces Fresh Pressure
The naira is bracing for increased demand as forward futures contracts totaling approximately $1.3 billion are set to mature by the end of this...
IMF Urges FG to Halt Fuel and Electricity Subsidies
The International Monetary Fund (IMF) has cautioned the Nigerian government to discontinue what it terms implicit subsidies on fuel and electricity.
In a recent report...
“Naira’s Value Falls: Exchange Rates Hit N1,510 at Parallel Market and N1,466.31 Officially”
By Milcah Tanimu
On Friday, the Nigerian naira experienced a continued decline in value, reaching N1,510 to a dollar at the parallel market. The...
EFCC Directs Embassies to Use Naira, Bans Dollar Transactions
The Economic and Financial Crimes Commission (EFCC) has issued a directive to foreign missions and Nigerian embassies, mandating the use of Naira instead of...
House of Reps to Mediate in Government/Oil Marketers Dispute
The Speaker of the House of Representatives, Hon. Abbas Tajudeen, has announced the parliament's intention to intervene in the ongoing dispute between the federal...
FG Plans New Audit of N2.7tn Subsidy Debt
The Federal Government is initiating a fresh audit of the N2.7tn fuel subsidy claim by the Nigerian National Petroleum Company Limited (NNPC). An initial...
The Unjust Burden of Cybersecurity: Why Banks Should Invest in Security, Not Pass Costs to Customers
By our correspondent
The Nigerian banking sector has witnessed significant growth in recent years, with banks declaring huge profits. However, this prosperity has not...
Central Bank of Nigeria Imposes Cybersecurity Levy on Electronic Transactions
The Central Bank of Nigeria (CBN) has mandated banks operating in the country to implement a cybersecurity levy on electronic transactions, according to a...
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