Blog

Air Peace resumes operations after NiMet strike suspension
Aviation

Visa van: Air peace suspends Dubai flights

Air Peace has announced the suspension of its flights to Dubai, United Arab Emirates, over the non-issuance of visas to Nigerians. This development comes two weeks after the UAE carrier, Emirates, suspended its flights, citing the inability to repatriate ticket funds in addition to the reduced number of passengers on the route. This development comes […]

US deficits projected $1trn higher over next decade
News

Black market: Naira falls by 17.6% in four days

The Nigerian naira’s value has decreased against the US dollar, closing at N780/$1 just dollat According to information provided to Nairametrics by black market dealers, naira fell by 17.6% today in comparison to the Friday closing rate of N680/$1. While this is going on, the exchange rate is still different in different places and is […]

Business

Binance to establish industry recovery fund

Cryptocurrency exchange currency, Binance has announced its intention to establish an industry recovery fund in the wake of the FTX crisis. According to Nairametrics, recent tweets from CEO of Binance, Changpeng Zhao, caused dramatic price jumps across the cryptocurrency market. Mr. Zhao announced the formation of an industry recovery group to support initiatives that are […]

Business

Commodity cost: Nigerians lament despite naira gains

Despite the naira’s gains over the past week, Nigerians have expressed dissatisfaction with the country’s high cost of goods and services. It would be recalled that the naira, after reaching an all-time low of N900 per dollar, rebounded to N680 per dollar. According to Nairametrics, the sudden improvement was attributed by black market traders to […]

Monarchs begs CBN to extend old naira deadline
Banking

Naira redesign: We’ll protect unbanked, rural dwellers – CBN

The Central Bank of Nigeria has restated its commitment to protect interests of millions of unbanked and underserved Nigerians, who mostly reside in the rural areas.f The apex bank made this known on Sunday, in a statement by its Director, Corporate Communications, Mr Osita Nwanisobi, against the backdrop of the planned redesign of certain denominations […]

Business featured

Adopt Naira transactions, oil marketers urge NIMASA, NPA

The Oil Marketers Association of Nigeria has urged the Nigerian Maritime Administration and Safety Agency and the Nigerian Ports Authority to obey Federal Government’s directive on Naira transactions for ports charges. This is contained in a statement by Mahmood Tukur, Vice Chairman II, Depots and Petroleum Products Marketers Association of Nigeria on Sunday in a […]

Telecommunications

NIN: MTN, Airtel bar 9.7 million subscribers

The Mobile Telephone Network and Airtel have reportedly barred 9.7 million of their subscribers from making outgoing calls over their inability to link their National Identification Numbers to their Subscriber Identity Module. The telecommunication companies disclosed this in their recent earnings reports. The report stated that 16.2 million subscribers whose lines were barred had submitted […]

Appeal Court overturns Emefiele’s asset forfeiture order
Banking

Full list: Five laws guiding Nigeria’s banking activities

Recent research has shown the laws that guides, checks and balances the banking industry and their activities. The banking industry garnered approximately $15.7 billion in foreign investments over the course of the previous five years, according to a report by Nairalytics, the research division of Nairametrics. The Central Bank of Nigeria reported that between 2017 […]

Economy featured

Recession: Experts advocate effective fiscal-monetary policy

Some economists in the North-East have urged the Federal Government to formulate effective fiscal and monetary policies to prevent Nigeria from sliding into recession. The experts including academics and financial analysts said the measure was imperative for building a vibrant economy and sustaining the gains recorded in the agriculture sector which enabled the country to […]

FG budgets N8.68tn for agric, food imports - Report
Agribusiness Foods

Global food imports to hit $2trn- FAO

The United Nations Food and Agriculture Organisation says food import costs globally are projected to reach nearly two trillion dollars this year, or higher than previously expected. FAO, in a report published on Friday, stated that the new forecast of 1.94 trillion dollars would represent an all-time high and a 10 per cent increase over […]

Stock market
Business

Stock market closes week positive, indices up 0.06%

The domestic bourse ended the week on a positive note, as market capitalisation gained N14 billion or 0.06 per cent to close at N23.948 trillion from N23.934 trillion recorded the previous days. Also, the All-Share Index gained 25.93 points or 0.06 per cent to close at 43,968.75 points compared with 43,942.82 points recorded on Thursday. […]

Crypto News

Binance halts FTX acquisition deal

Binance has announced that it would not proceed with the plan of acquiring FTX. Recall that most cryptocurrencies experienced a decrease in the immediate aftermath. However, neither Sam Bankman-Fried nor FTX made any public announcements. Safe to mention that many people and publications have expressed their skepticism over whether Binance would actually follow through with […]