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MTN Nigeria Faces N740 Billion Forex Losses, Shareholder Funds Impacted. In a significant financial downturn, MTN Nigeria Plc has recorded a loss before tax of N177.8 billion, a stark contrast to the N518.8 billion pre-tax profit reported a year prior. This downturn has led to a depletion of shareholders’ funds. The primary culprit behind … Read more
Secure Your Career: Elderly Care Job Opportunities in the USA with Visa Sponsorship in 2024. The demand for skilled caregivers specializing in senior care is escalating alongside the growing population of older adults in the United States. With a shortage of nursing care professionals domestically, American organizations are actively seeking qualified individuals worldwide to … Read more
Here is the list of top 10 Best places to study abroad in Europe. Europe stands as a beacon of educational excellence, offering top-tier institutions, enriching experiences, and a vibrant cultural milieu for students worldwide. With its diverse landscape and rich heritage, studying in Europe promises not just academic growth but also personal development … Read more
Boosting the Naira: MAN Urges FG Support for Local Producers. The Manufacturers Association of Nigeria (MAN) has urged the Federal Government to bolster the country’s economy and enhance the international value of the naira by backing local producers. This call comes amidst commendations for President Bola Ahmed Tinubu’s initiative, the ‘Light-up Nigeria’ Project, aimed … Read more
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. In response to queries about cryptocurrency platforms like Binance and the Central Bank’s approach to … Read more
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 various “distortions” caused by unethical practices within the market. Yemi Cardoso emphasized that these distortions … Read more
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 NGX All-Share Index (ASI), settling at 100,582.89 points. This decline in market capitalization amounted to … Read more
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 challenges. Addressing reporters during the Monetary Policy Committee (MPC) meeting held on Tuesday, February 27, … Read more
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, as reported by the National Bureau of Statistics (NBS). This drastic drop saw capital inflow … Read more
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 Mahmud, Director of the Trade & Exchange Department, the CBN has announced its decision to … Read more