Economy

Latest News on Economy
Naira slides ahead of Yuletide, exchange...

Naira slides ahead of Yuletide, exchange for 570/dollar

The naira continued its downward trend as the dollar was sold for N570 in the parallel market on Tuesday. Operators, who spoke to our correspondent, said the dollar was bought and sold for N567 and N570 respectively on Tuesday, compared to N550 and N555 three weeks earlier. Some Bureau de Change... read more »

Osun Lotto Operator Commits Suicide Over...

Osun Lotto Operator Commits Suicide Over Debts

An operator of a gambling house resident in Ikire, Osun State, simply identified as Seyi, has reportedly committed suicide by setting himself ablaze. It was gathered that the deceased, whose kiosk is located in the Centre area of Ikire, locked himself up in his gambling kiosk and set himself on... read more »

Nigeria Drops To 14 As Egypt Tops Africa...

Nigeria Drops To 14 As Egypt Tops Africa’s Investment Destinations

Nigeria has dropped from Africa’s top 10 investment destinations to 14 as Egypt remains the number one nation. This is according to a report by RMB titled, ‘Where to Invest in Africa 2021.’ According to RMB, a division of FirstRand Bank Limited, the ranking is based on countries operating... read more »

Data Breach By Loan Apps: FG To Protect ...

Data Breach By Loan Apps: FG To Protect Nigerians

If Federal Government Can Ban Some Loan Apps, We Will Forgive Buhari, Nigerians Say. Many people on social media have reacted to the news that the federal government is set to enforce the right of Nigerians following the illegal actions of online loan lenders. According to some reactions noticed... read more »

Sokoloan Set To Shutdown, After Paying ₦...

Sokoloan Set To Shutdown, After Paying ₦10 Million NITDA Fine

Soko Loan Lending company, a quick credit startup, in Nigeria is on the verge of a shutdown months after the National Information Technology Development Agency (NITDA) sanctioned the firm for privacy invasion. On August 17, 2021, the agency had released a statement informing the public that... read more »

More from Economy

Femi Adesina

Past Governments To Blame For Nigeria’s Economic Recession Under Buhari – Femi Adesina

The Special Adviser to the President on Media and Publicity, Femi Adesina, says the going of Nigerian economy into recession in 2016 was “inevitable” and past governments, not the... read more »

Enaira App Returns To Google Play Store After Takedown

Enaira App Returns To Google Play Store

eNaira App has reappeared on the Google play store barely 24 hours after it was taken down by the Google team following a series of complaints by Nigerians that downloaded the newly... read more »

Rivers Not Fighting FG on VAT –Wike

Against the backdrop of the legal tussle over Value Added Tax collection, the Governor of Rivers State, Nyesom Wike, has said the state has no intention to fight the Federal... read more »

Naira-Dollar

Naira Dips To Record Low At Official Market

The value of the naira fell further by 1.68 per cent against the dollar at the official market on Thursday. At the Investor & Exporter foreign exchange window, the local currency opened... read more »

Osinbajo

Nigeria Can’t Get New Dollars When Exchange Rate is Artificially ...

Vice-President Yemi Osinbajo says that Nigeria cannot get new dollars into the system when the exchange rate is “artificially low.” Osinbajo said this on Monday in Abuja at the opening of a... read more »