Naira Plunges at NAFEM, Parallel Market The Naira value weakened by 1.9% or N28.73 against the United States Dollar on Thursday, February 22 on the Nigerian Autonomous Foreign Exchange Market (NAFEM) despite unconventional approaches to ease the free fall of the currency. It closed at...

Chainalysis: Cryptocurrency Money Laundering Drops By 29% A Chainalysis report states that money laundered through cryptocurrency exchanges declined by 29 per cent in 2023. The report, obtained on Thursday, revealed that those illicit funds dropped by approximately $9.3bn, declining from $31.5bn in 2022 to $22.2bn in...

How Foreign Loans Make Up 59% Of $4bn Capital Importation   No less than 59.1 per cent of capital importation into the country in 2023, amounting to $2.31bn, was foreign loans, according to the latest capital importation report released by the National Bureau of Statistics. According to...

Oil Market Rises As Dollar Weakens On Thursday, the oil market rose after retail data in the United States prompted a sell-off in the Dollar, the trading currency for the commodity, with Brent crude futures up by $1.26 or 1.5 per cent to $82.86 a...

Equity Market Gains N329bn As Rally Extends The Nigerian exchange has gained N329bn as it has managed to maintain its positive trading trend for the second consecutive day. The All-Share Index and the market capitalisation rose by 0.58 per cent to close at 104,100 points and...

Rising Inflation Poses Risk To New Minimum Wage President Bola Tinubu has set up a committee to decide on the new minimum wage for Nigerian civil servants, however, concerns have been raised regarding the country’s rising inflation which is currently at 28.92%. Economists believe the implementation...