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Forex Crisis: $26 billion Passed Through Binance Nigeria in One Year – Cardoso

Addressing Forex Concerns: Insights on Binance Nigeria’s $26 Billion Transactions, Cardoso Reveals.   Nigeria’s forex landscape has been under scrutiny, with Central Bank Governor, Olayemi Cardoso shedding light on the staggering $26 billion flowing through Binance Nigeria within a year….

Naira is Undervalued Because of Distortions – Cardoso

Understanding Naira’s Undervaluation: Insights from Olayemi Cardoso.   In a recent statement at the Monetary Policy Committee Meeting on February 27, 2024, Olayemi Cardoso, the Central Bank Governor, shed light on the undervaluation of the Nigerian Naira, attributing it to…

Nigerian Stock Exchange Sees N773 billion Dip In Equities

Nigerian Stock Exchange Witnesses N773 Billion Decline in Equities: Market Update.   The Nigerian Stock Exchange (NSE) recently experienced a slight downturn in its key performance indicators, amidst prevailing bearish sentiment, resulting in a dip of 1412.64 points in the…

“I’m Not Responsible For Nigeria’s Economic Crisis” – CBN Governor, Cardoso

CBN Governor, Olayemi Cardoso, Dismisses Blame for Nigeria’s Economic Struggles.   In a recent statement, Olayemi Cardoso, the Governor of the Central Bank of Nigeria (CBN), refuted claims that he and his team are accountable for the nation’s ongoing economic…

Nigeria’s Foreign Capital from US Investors Falls by 88% in Q4 2023

Decline in US Investment: Nigeria’s Foreign Capital Plummets by 88% in Q4 2023.   In an unexpected turn of events, Nigeria experienced a significant 88% decline in foreign capital influx from the United States during the final quarter of 2023,…

CBN Intervenes in FX Market, Allocates $20,000 to Each BDC to Stabilize Naira

  In a bid to address the prevailing imbalances in Nigeria’s foreign exchange market, the Central Bank of Nigeria (CBN) has taken proactive measures to narrow the widening gap in exchange rates. In a recent circular issued by Dr. Hassan…

Ministry of Youth Development Partners with Firm to Offer ICT Training to Youths

Empowering Nigerian Youths: Ministry of Youth Development Teams Up with ATC for ICT Training.   In an exciting development for Nigerian youths, the Ministry of Youth Development, under the leadership of Dr. Jamila Bio-Ibrahim, has forged a strategic partnership with…

CBN Sells Another N1.58 trillion in Treasury Bills, Interest Rate at 19% for 364-day Bill

CBN Auctions N1.58 Trillion in Treasury Bills, Sets Interest Rate at 19% for 364-Day Bill.   In its latest Treasury Bills auction, the Central Bank of Nigeria (CBN) successfully sold N1.58 trillion, underscoring its commitment to managing liquidity in the…

Billionaire Jeff Bezos, Nvidia Join OpenAI in $675 Million Funding for Humanoid Robot Startup

Jeff Bezos, Nvidia, and OpenAI Back Figure AI’s Humanoid Robot Venture with $675M Funding.   In the realm of AI exploration, a notable shift is underway as tech titans like Jeff Bezos and Nvidia pivot towards humanoid robotics. This movement…

FG Revamps Fraud-plagued Cash Transfer Programme for Immediate Resumption

Federal Government’s Enhanced Cash Transfer Programme to Combat Fraud and Support Vulnerable Groups.   In a bid to address fraud and ensure effective support for vulnerable communities, the Federal Government has overhauled its cash transfer programme, introducing immediate direct payments….