Naira Down To N1,525/$ In Parallel Market

The Naira yesterday depreciated in the parallel market to N1,525 per dollar from N1,520 per dollar last weekend. However, the Naira appreciated to N1,339.33 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM. Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,339.33 per dollar from N1,482.81 per dollar last weekend, indicating N143.48 appreciation for the naira. READ ALSO: Nigeria Invests N309bn In Agriculture In One Year – Minister Why I Relocated To US – Pastor Sam Adeyemi 2024 Hajj: Nigerian Pilgrim Dies In Mecca…

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Family Of Detained Accountant Asks IG To Probe Fraud Allegations

The family of detained chartered accountant, Ms. Omafume Ayinuola, has asked the Inspector General of Police IGP, Kayode Egbetokun to probe accusation of fraud preferred against their daughter by a prominent stockbroker and businessman, Peter Ololo. The family in a petition by Erhievuyere-Dominic Peter, a brother to the detained accountant, lamented that members of the family were currently living in fear for the safety of detained sister, stressing that members of the family have been subjected to harassment and intimidation. The petitioner complained that “The actions taken against his family…

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Nigerian Bank Managers ‘Borrowed’ N549bn From Depositors’ Accounts

“Which kind play be this?” Nigerians react, demand probe of those found guilty    Directors and key management personnel of Deposit Money Banks borrowed about N549bn from their financial institutions in five years. This is according to an analysis of the banks’ annual reports filed with the Nigerian Exchange Limited between 2019 and 2023. However, the banks’ loans and advances to some directors and key management personnel as well as related party transactions dropped significantly in 2023, a report by The PUNCH showed. These transactions dropped to N52.40bn for eight…

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CBN Issues July 7 Deadline For PoS Operators’ Registration With CAC

Central Bank Of Nigeria (CBN) has issued a July 7, 2024 deadline for Point of Sales (PoS) operators to complete registration with the Corporate Affairs Corporation (CAC). This was revealed during a meeting between Fintechs and the Registrar-General/Chief Executive Officer (CAC) Hussaini Magaji (SAN) in Abuja on Tuesday. Speaking at the event, the CAC boss said the two-month timeline to register their agents, merchants, and individuals with the commission, was “in line with legal requirements and the directives of the Central Bank of Nigeria”. “The measure aims at safeguarding the…

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List Of African Nations With Heaviest Chinese Debts

“Number 8 may shock you!”   The COVID-19 outbreak and Russia’s invasion of Ukraine had a negative economic impact, making it harder for many African countries to pay down their national debt. According to the United Kingdom’s Chatham House, more than 20 low-income African nations were at a high risk of defaulting. Bloomberg revealed that China accounts for 12% of Africa’s $696 billion (KSh 94 trillion) external debt. Due to the extent of Chinese lending, the World Bank noted that seven African nations were either in debt distress or at…

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NBS: 24.6m Children In Child Labour — Cross River, Yobe Top Chart

The National Bureau of Statistics (NBS) says 24.6 million children in Nigeria are engaged in child labour. NBS disclosed this in a report titled ‘Nigeria Child Labour Survey 2022’ on Thursday. The report showed states like Cross River, Yobe and Abia lead the chart with scores above 60 percent. According to the bureau, child labour is any work that robs children (under 18) of their childhood, potential, and dignity. READ ALSO: Lagos Govt To Extend Blue Rail Line To Ogun Over 577 Sight Impaired Candidates To Sit For 2024 UTME…

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NNPC, Total Energies JV Achieves Zero Gas Flare

The NNPC Ltd/TotalEnergies Joint Venture has achieved zero routine gas flare in all its assets. This feat was announced on Thursday during an inspection tour of OML 100 in South-eastern Niger Delta, off Port Harcourt, by a joint NNPC Ltd and TotalEnergies Team to ascertain the success of the OML Flare Reduction Project launched in December 2023. Chief Corporate Communications Officer, NNPC Ltd., Olufemi Soneye, in a statement said the feat was in pursuit of meeting the targets of 20% (unconditional) and 47% (conditional) greenhouse gas emission reduction as contained in…

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10 Africans Who Are Richer Than Many Countries In The Continent

Wealth In their hands: Story, Profile of Top 10 Richest Men In Africa 2024 and list of poorest countries based on GNI per capita in the continent   Forbes, the wealth-tracking platform, provides ongoing updates on the net worth and ranking of each individual confirmed by Forbes to be a billionaire. Platforms Africa reports that these 10 billionaires have a net worth that is more than that of some nations in the world, and particularly, many countries in their continent of Africa. The value of individuals’ public holdings are updated…

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Betta Chimaobim Edu: 12 Things You Don’t Know About Embattled Minister

Medical doctor, Scholar, Public Health from Texila American University, APC ex-National Women Leader: This is the 12-point resume of the 37 year-old first minister ever to be suspended by President Tinubu.   A search by Platforms Africa showed some revealing and interesting sides of the suspended minister Of Humanitarian Affairs and Poverty Alleviation. Here, below, are what may need to know. 1. Born October 27, 1986 37 years old 2. Minister of Humanitarian Affairs and Poverty Alleviation (now Suspended – 08 Jan 2024) READ ALSO: BREAKING: Tinubu Cuts 60% Off…

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