CBN Bans Use Of Foreign Currency As Collateral To Collect Naira Loans From Banks
Business
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Business
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CBN Bans Use Of Foreign Currency As Collateral To Collect Naira Loans From Banks

Webby - April 8, 2024

The Central Bank of Nigeria (CBN) has issued a directive prohibiting the use of foreign currency (FCY) as collateral for Naira loans.This was contained in a circular…

ABCON urges CBN to lower applicable exchange rate for members
Business
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Business
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ABCON urges CBN to lower applicable exchange rate for members

Webby - April 8, 2024

The Association of Bureau De Change Operators of Nigeria (ABCON), says naira’s speedy recovery, which was faster than expected, had made Central Bank of Nigeria (CBN) selling…

Burden of higher electricity tariffs will exacerbates challenges facing businesses—ACCI
Business
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Business
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Burden of higher electricity tariffs will exacerbates challenges facing businesses—ACCI

Webby - April 8, 2024

The Abuja Chamber of Commerce and Industry (ACCI) says the burden of higher electricity tariffs will exacerbate challenges facing businesses and also threatens their long-term viability.It would…

Manufacturing, ICT, other sectors to benefit more from Naira stability–expert
Business
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Business
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Manufacturing, ICT, other sectors to benefit more from Naira stability–expert

Webby - April 8, 2024

The founder and Chief Consultant at B. Adedipe Associates Ltd. Dr. Abiodun Adedipe has revealed that the manufacturing sector will be the biggest beneficiary of a stable…

Banks net interest margin can dampen consumer spending, investment—analysts
Business
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Business
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Banks net interest margin can dampen consumer spending, investment—analysts

Webby - April 8, 2024

Some economists have argued that Banks high net interest, which is the difference between the lending rate and the deposit rate, can dampen consumer spending and investment,…

Nigeria currently boast of highest CRR globally, says analyst
Business
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Business
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Nigeria currently boast of highest CRR globally, says analyst

Webby - April 6, 2024

Dr. Bunmi Bajomo, Head, Group Corporate Banking and Chief Operating Officer, Ecobank Transactional (ETI) has said that the MPC’s resolution to elevate the cash reserve requirement from…

Naira stability will attract more manufacturers to Nigeria – expert
Business
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Business
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Naira stability will attract more manufacturers to Nigeria – expert

Webby - April 6, 2024

The founder and Chief Consultant at B. Adedipe Associates Ltd. Dr. Abiodun Adedipe has said that Nigeria is poised to attract more manufacturing companies from across the…

Why Lagos Govt Wants To Demolish Paul Onwuanibe’s $200m Landmark Beach Resort
Business
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Business
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Why Lagos Govt Wants To Demolish Paul Onwuanibe’s $200m Landmark Beach Resort

Webby - April 6, 2024

Lagos State Government plans to demolish a section of the Landmark Beach Resort to make way for the construction of the coastal highway as part of the…

The 5 Best Assets to Trade in 2024
Business
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Business
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The 5 Best Assets to Trade in 2024

Webby - April 6, 2024

As the financial markets continue to evolve, traders and investors are constantly on the lookout for the most lucrative and promising assets to add to their portfolios,…

Why CBN’s decision on MPR my prevent Banks from giving credit–KPMG
Business
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Business
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Why CBN’s decision on MPR my prevent Banks from giving credit–KPMG

Webby - April 5, 2024

KPMG Nigeria says the monetary tightening efforts by the Central Bank of Nigeria (CBN) might prevent banks from giving credit to support the economy.The monetary policy committee…