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Price of Healthy Food Increases by 32% in 5 Months – NBS
The average cost of purchasing healthy food daily increased by 32 per cent to N1,041 in May 2024 from N786 in December 2023. The National Bureau of Statistics, NBS,…
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Dollar to Naira Exchange Rate Hits N1530 at Black Market
The dollar to naira exchange rate at the black market, also known as the parallel market or Aboki fx, has reached N1530 for sale and N1520 for…
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FG to Implement 50% Tax on Banks’ FX Profits
The Nigerian government has announced plans to implement a 50% tax on the profits banks earned from foreign exchange revaluation in 2023, in order to fund an increase in workers'…
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NERC Yet to Receive Official Directive to Revert Electricity Tariff Hike
The Nigerian Electricity Regulatory Commission (NERC) has revealed that it is yet to receive official communication from the House of Representatives to reverse the recent electricity tariff hike imposed on…
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CBN Approves Merger of Unity Bank, Providus Bank
The Central Bank of Nigeria (CBN) has announced its approval of a crucial financial accommodation to support the proposed merger of Unity Bank Plc and Providus Bank Limited. CBN disclosed…
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Food Prices Soar Following #EndBadGovernanceInNigeria Protests
In the wake of recent nationwide #EndBadGovernanceInNigeria protests, the prices of cooking gas and food items have surged in Kaduna State. A market survey conducted on Monday revealed a massive…
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Naira Payment For Crude Oil To Dangote Refinery, Others Begin October 1
The Federal Government has announced that sales of crude oil to Dangote Refinery and other local refineries will commence on October 1, 2024, in naira. This was disclosed by…
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Dollar to Naira Exchange Rate Today: Black Market Rate Hits N1610
The dollar to naira exchange rate at the black market, also known as the parallel market (Aboki fx), has hit N1610 to buy and N1615 to sell, according to sources…
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Survey Shows 74% Expect CBN Rate Cut in July
A recent survey conducted by the Statistics Department of the Central Bank of Nigeria (CBN) has revealed that 74.2% of respondents believed the apex bank should have reduced the…
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Poor Nigerians Bear Tax Burden, Need Relief – Oyedele
The Chairman of the Presidential Fiscal and Tax Reforms Committee, Taiwo Oyedele, has revealed that the country's poorest citizens have been shouldering the tax burden, emphasizing the need for…