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Tag Archives: Business Gist

dollar ban

Dollar rises by 21%, FX shortage persists after party primaries

The dollar exchanged at N603 (average) at Lagos and Abuja parallel markets on Tuesday, indicating a worsening liquidity crisis in the foreign exchange market of Africa’s biggest oil producer.Between June 2021, and June 2022, the dollar-to-naira exchange rate has risen ...

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CBN

CBN fines three banks ₦800m for flouting cryptocurrency order

The Central Bank of Nigeria (CBN) has fined three banks a total of N800million for failing to comply with the directive to block customers from transacting in cryptocurrencies.Recall that in February 2021, the apex bank directed banks to close accounts of ...

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oil

High crude prices create an incentive for oil smuggling – Wale Okunrinboye

When prices are high, there is a lot of incentive for people to try and make money from it in the export market as they expect to make more money. This is according to Wale Okunrinboye, Head of Research at ...

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FG shutdown GoCash, Okash, Other Online Bank Apps In Nigeria

FG shutdown GoCash, Okash, Other Online Bank Apps In Nigeria

The Federal government has turned off some illegal financial institutions operating in a few elements of Lagos State.Naija News reports that the illegal financial institutions were turned off following customers’ complaints of malpractices and invasion of privacy. In a conversation ...

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Nigeria drags JP Morgan over controversial oil deal, demands $1.7 billion as damages

Nigeria has instituted legal action in a London court against American banking and financial service group, JP Morgan Chase, claiming over $1.7 billion in damages over its role in the disputed 2011 Malabo oil deal, as the hearing commences on ...

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Bitcoins vs stocks

Nigeria Among Top 2 In The World For Bitcoin Searches On Google.

Nigeria came second behind El Salvador in Google Bitcoin Searches in the world according to Google Trends live statistics. Nigeria’s rise to the top of bitcoin search rankings may be attributed to the growing utility of crypto in Nigeria. The ...

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Flour Mills

Northern Nig Flour Mills gains ₦240 million in market value, up 20% in two days

At the end of two trading sessions, Northern Nig Flour Mills Plc share price has appreciated by 20.60% to close at N7.90 per share, taking the Market capitalization from N1.17 billion on Thursday to N1.41 billion at the end of ...

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Crypto Secrets: Top Five Rules No one Tells You.

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Bitcoin glossary 70 phrase in cryptoworld

Bitcoin glossary: Top 70 – Every blockchain and cryptocurrency phrase you need to know.

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bitcoins

Could Bitcoin rise to a new All Time-High in 2022?

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