Thursday, April 25, 2024
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Nigeria’s FX reserves drop to $32bn — lowest level in six years

    Nigeria’s FX reserves drop to $32bn — lowest level in six years

Nigeria’s foreign reserves fell to $32.29 billion on April 15 — the lowest level in over six years.  According to the latest data from the Central Bank of Nigeria (CBN),

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Naira appreciates to N1,100/$ in parallel market

    Naira appreciates to N1,100/$ in parallel market

The naira rose further on Monday in the parallel section of the foreign exchange (FX) market. At the Lagos street market, currency traders, also known as bureau de change (BDC)

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Recapitalisation: UBA seeks shareholders’ approval to raise capital

    Recapitalisation: UBA seeks shareholders’ approval to raise capital

United Bank for Africa (UBA) says it will seek shareholders’ approval at the company’s 62nd annual general meeting (AGM) to raise capital. The AGM is scheduled to be held on

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Naira watch, Emirates Airlines resumption… 7 business stories to track this week

    Naira watch, Emirates Airlines resumption… 7 business stories to track this week

Here are the seven top business stories to track this week — April 15 to April 19. EMIRATES TO RESUME FLIGHT OPERATIONS TO NIGERIA SOON Festus Keyamo, minister of aviation

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Recapitalisation: Zenith Bank to raise funds in international capital market

  Recapitalisation: Zenith Bank to raise funds in international capital market

Zenith Bank has announced plans to raise an undisclosed amount in the international and Nigerian capital markets. According to the

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GTCO to raise $750m through public offerings, private placements

  GTCO to raise $750m through public offerings, private placements

Guaranty Trust Holding Company (GTCO) Plc plans to raise $750,000,000 by way of public offerings and private placements. According to

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ABCON to CBN: Allow non-oil exporters to hold FX for 48 hours

  ABCON to CBN: Allow non-oil exporters to hold FX for 48 hours

The Association of Bureaux de Change Operators of Nigeria (ABCON) has asked the Central Bank of Nigeria (CBN) to direct

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NACCIMA to FG: Customs must collect duties in naira — NOT dollar

  NACCIMA to FG: Customs must collect duties in naira — NOT dollar

The Nigeria Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA) says duties collected by the Nigeria Customs Service

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Naira appreciates against dollar at official window, parallel market

  Naira appreciates against dollar at official window, parallel market

The naira, on Monday, appreciated to N1,120 per dollar at the parallel section of the foreign exchange (FX) market. The

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Customs FX rate for import duties now N1,246/$ — down by 6% in eight days

  Customs FX rate for import duties now N1,246/$ — down by 6% in eight days

The Nigeria Customs Service (NCS) has adjusted the foreign exchange (FX) rate for its tariffs and duties to N1,246 per

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