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CBN Increases the Exchange Rate for Paying Customs Duties by 11.1%
Yesterday, the Central Bank of Nigeria (CBN) increased the exchange rate for paying customs duties at the nation's seaports by 11.1% following the crash in the value of naira against the dollar in the...
Dangote Cement Plc Releases Q1 Report With N112.67 Billion PAT
Dangote Cement Plc released its first quarter (Q1) report yesterday. The quarter ended March 31, 2024, and was unaudited. The cement company reported that profit before taxes was N166.4 billion, up 13...
Naira Trade Against the Dollar at N1309 at the Official Market
On Thursday, the naira experienced a major decline against the US dollar, trading at N1,309/$ at the official market and N1,420 at the parallel market. This depreciation can be attributed to the high ...
$824 Billion Resource-Backed Loans Slowing Africa’s Growth – Akinwumi Adesina
Mr Akinwumi Adesina, the president of the African Development Bank, stated yesterday that non-transparent resource-backed loans threaten Africa's economic prospects because they make debt resolution m...
NGX Lost N673 Billion in Mid-Week Trading Session
The Nigerian stock market finished the mid-week session yesterday with a bearish run, as its overall capitalization lost N673 billion.The NGX All-Share Index (ASI) lost 1,190.24 points, representing a...