24hrs News & Updates
The Federal Competition and Consumer Protection Commission (FCCPC) have presented 173 digital lending applications that has been approved to operate in Nigeria. Of these, 119 have full approvals while the other 54 have conditional approvals. This followed a registration drive launched by the FCCPC aimed at protecting citizens from the unsavoury practices of loan apps….
Nigeria’s total public debt stock consisting of the domestic and external debt stocks of the Federal Government of Nigeria (FGN) and the subnational governments, 36 State Governments and the Federal Capital Territory, was N46.25 trillion or USD $103.11 billion as at December 31, 2022. The comparative figure for December 31, 2021, is N39.56 trillion or…
Read More “Nigeria’s total public debt hits N46.25trn — DMO” »
The World Bank Group’s Board of Executive Directors announced that Ajay Banga, a U.S. national, was the only nominee for the position of the next President of the bank. This is contained in a statement issued by the World Bank in Abuja on Friday. “The World Bank Group’s Board of Executive Directors today confirmed that,…
Read More “World Bank announces Ajay Banga as sole nominee for President” »
The House of Representatives has disclosed that the China-Exim Bank rejected Nigeria’s $22,798,446,773 loan request earlier approved by the National Assembly. The Chairman of the House Committee on Rules and Business, Abubakar Fulata, stated this on Tuesday after the House approved the loan request by the Federal Government to borrow $973,474,971.38 from China Development Bank….
Read More “FG $22bn loan request rejected by Chinese bank – Reps” »
As the federal government prepares to completely deregulate the downstream sector of the Nigerian oil and gas industry in the coming months, stakeholders in the sector have told Nigerians to be ready to pay as much as N750 per litre of petrol at filling stations. This was the highpoint of stakeholders’ interventions during an online…
Read More “Petrol To Cost N750/Litre – Stakeholders Tell Nigerians” »
The Central Bank of Nigeria (CBN) has made clarification on viral reports that it has suspended accounts of some Fintech companies like OPAY and PALMPAY. The apex bank denounced the reports, describing it as fake news. According to the News Agency of Nigeria (NAN), this was made known by the Acting Director, of Corporate Communications…
Read More “CBN Speaks On Suspending Accounts of OPAY, PALMPAY Other Fintechs” »
The local currency opened at N750.00 per $1 at the parallel market otherwise known as the black market, today, Friday, 24 March 2023, in Lagos Nigeria, after it closed at N750.00 per $1 on Thursday, 23 March 2023. IMPORTANT NOTE: Please note that the exchange rate changes hourly. It depends on the volume of dollars…
Read More “24th March 2023: Parallel Market Dollar To Naira Exchange Rate Today” »
The leadership of Nigeria Labour Congress (NLC), on Wednesday, directed all workers to picket all the offices of Central Bank of Nigeria nationwide starting from next week over current cash crunch in the country. NLC President, Joe Ajaero, gave the directive at a press briefing at Labour House in Abuja. He said the directive became…
Read More “NLC Orders Nationwide Strike
Over Cash Scarcity” »
The Department of State Services (DSS) has been called upon to immediately arrest the governor of the Central Bank of Nigeria, Godwin Emefiele and the Attorney General of the Federation and Minister of Justice, Abubakar Malami for their disobedience to a ruling of Supreme Court ordering that old N200, N500 and N1000 notes remain valid…
Read More “Latest Updates On Old Naira Notes, CBN, Emefiele And The Banks” »
This is contained in a statement issued by the state Commissioner for Information and Communications, Mr Kingsley Fanwo in Lokoja. The supreme court had on Wednesday ruled that the old Naira notes of N1000, N500 and N200 should continue as legal tender alongside the new notes in all transactions until December 2023. The governor described…
Read More “We’ll Arrest, Prosecute Those Rejecting Old Naira Notes” »