24hrs News & Updates
MTN Nigeria has raised the price of its weekly 15GB data plan to N6,000 from N2,000 to the outcry of many Nigerians. This increment is part of a recently approved 50 percent hike in the price of telecom services. Many MTN Nigeria subscribers have taken to X to express their frustrations. “Nigeria is a very…
Read More “Subscribers Decry Leap In Cost As MTN Raises Cost Of 15GB By 200%” »
The Nigerian currency, the Naira, is expected to decline to a fair value of ₦1,804 per dollar in the official market by 2025.This forecast is outlined in a recent Afrinvest report, ‘Beyond The Rhetorics: Transforming Reformsto Tangibles’. The report indicates that this projection stems from the expectation that the Central Bank of Nigeria (CBN) may…
Read More “Naira Value Against US Dollar To Depreciate In 2025 – Report” »
The federal government has unveiled plans to target 15 million households, or approximately 75 million Nigerians, as part of its conditional cash transfer scheme. Each qualifying household will receive N25,000 three times a year as part of efforts to alleviate economic hardship among vulnerable citizens. The Minister of Humanitarian Affairs, Disaster Management, and Social Development,…
Read More “Federal Government Conditional Cash Transfer Scheme To Reach 75 Million Nigerians Soon” »
The Naira on monday appreciated to N1,660 per dollar in the parallel market from N1,662 per dollar last weekend. However, the Naira depreciated to N1,550 per dollar in the official foreign exchange market. Data from the Daily Nigerian Foreign Exchange Market (NFEM) published by the Central Bank of Nigeria, CBN, showed that the indicative exchange…
Read More “Naira Recovers, Sells At N1,660/$ In Parallel Market” »
The revenue shared among the federal, state, and local governments in November 2024, as accrued from the Federation Accounts Allocation Committee, FAAC, increased by N490 billion, rising to N1.727 trillion from N1.3 trillion in the previous month. This was disclosed in FAAC’s latest communiqué on allocations to the three tiers of government, released on Friday….
Read More “FAAC: Federal, State, Local Govts Shares N1.727trn In November” »
The naira plummeted against the dollar on Friday at the foreign exchange market, closing the week on a negative note. Data from the Central Bank of Nigeria’s FX rate showed that the naira fell to N1,540.00 per dollar on Friday, compared to N1,532.00 on Thursday. This represents a slight depreciation of N8 against the dollar…
Read More “Naira Plummets Against Dollar Ending Week Negatively” »
The Naira gained value impressively at the official and parallel foreign exchange markets on Friday to end the week on a good note. The Central Bank of Nigeria’s exchange market data showed that the Naira appreciated to N1,535 per dollar on Friday from N1,567 per dollar on Thursday. This showed that the Naira gained N32…
Read More “Naira Rises Impressively Against Dollar In Official, Black Markets” »
Nigeria’s President Bola Ahmed Tinubu has directed the Nigerian Consumer Credit Corporation (CREDICORP) to facilitate the reinvestment of Peugeot Automobile and Dunlop Tyres in the Nigeria economy as part of the country’s efforts to introduce credit facilities for purchasing new cars. This latest effort is part of Nigeria’s broader plan to become one of the…
Read More “Tinubu Directs Return Of Peugeot, Dunlop To Nigeria Through CREDICORP Scheme” »
Bitcoin broke $100,000 for the first time Thursday as traders cheered Donald Trump’s decision to pick a crypto fan to head the US securities regulator, reinforcing optimism the new president will push through measures to deregulate the sector. The cryptocurrency soared through the mark to a peak of $103,800, having enjoyed a blistering rally since…
Read More “CRYPTO: Bitcoin Records First Time $100,000 Mark Hit” »
The Naira depreciated to N1,745 per dollar in the parallel market from N1,740 per dollar on friday. Similarly, the Naira depreciated to N1,672.69 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM. Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,672.69 per dollar from N1,644.86 per dollar on Thursday,…
Read More “FOREX: Naira Depreciates To N1,745/$ In Parallel Market” »