The bill seeking to prohibit the use of foreign currencies for transactions and payments in Nigeria has passed its first reading in the Senate. Titled “A Bill for an Act to Alter the Central Bank of Nigeria Act, 2007, No. 7, to Prohibit the Use of Foreign Currencies for Remuneration and Other Related Matters,” the … Read more
The Naira on Friday slightly further depreciated at the official market trading at N1,652.25 against the dollar. Data from the official trading platform of the FMDQ Exchange revealed that the Naira lost N2.05. This represents a 0.12 per cent loss compared to the previous trading date, Thursday, when it exchanged at N1,650.20 to a dollar. … Read more
Eko Hot Blog reports that the Economic and Financial Crimes Commission (EFCC) has disclosed that it has set up a Special Task Force in all its Zonal Commands to tackle the ‘dollarization’ of the economy. It added that it has invited proprietors of private universities and other institutions of higher learning in Nigeria charging fees … Read more
Eko Hot Blog reports that the Central Bank of Nigeria (CBN) has lifted the restriction on cash deposits into domiciliary accounts. The apex bank made the disclosure in guidance to Deposit Money Banks (DMBs) after a meeting with the bankers’ committee on Sunday. The meeting was meant to provide further guidance to DMBs on the … Read more
Living in Nigeria and earning dollars has become a dream for many people. With the high exchange rate of the dollar to the naira, a few dollars will change your life for the better in Nigeria and make you comfortable. However, being in Nigeria and earning in dollars doesn’t come easy because you have to … Read more
The CBN also divulged plans to increase the amount of foreign exchange allocated to banks to meet legitimate needs. On Friday, the Bureau De Change disclosed that the naira exchanged to the dollar at N504 at the parallel market. A month earlier, the dollar was at N490 but had recently moved to N500 as … Read more
Nigerian male barbie, Bobrisky has lost some money and some valuable items to his house help and he is heartbroken about it. According to Bob, the guy stole his dollars, and iPhone and a Nokia phone. He shared a