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5 African Countries With Stronger Currencies Than Naira
Discover five African countries whose currencies outperform Nigeria's Naira, including Tunisia, Libya, Botswana, Morocco, and Seychelles, and learn the economic factors behind their strength.
Category : Business
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Four Suspected Bandits Arrested Near Akure Airport
The Federal Airports Authority of Nigeria (FAAN) has confirmed the arrest of four suspected bandits near Akure Airport in Ondo State following a coordinated security operation involving multiple agencies.
CBN Orders Banks to Deploy More ATMs, Speed Up Refunds
The Central Bank of Nigeria has issued new guidelines requiring commercial banks to increase ATM deployment ratios and process instant reversals for failed transactions to enhance customer access and satisfaction.
Uber, Bolt Drivers Shut Down in Lagos, Ogun Over Fares
App-based drivers in Lagos and Ogun states suspended ride-hailing services on Monday in protest against low fares and rising operational costs, organized by their union.
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Tinubu Orders Rice Distribution for Ramadan, Lent Across Nigeria
President Bola Tinubu has directed the Renewed Hope Ambassadors to distribute rice nationwide to support citizens observing Ramadan and Lent, promoting unity during fasting seasons.
Dangote Reverses Petrol Price Cut, Marketers Set New Depot Rates
Petroleum marketers have released updated depot prices for petrol across Nigeria following Dangote Refinery's reversal of a recent reduction. Prices now range from N1,094 to N1,222 per litre in key hubs.
Nigerian Breweries, Guinness Nigeria Raise Drink Prices
Nigerian Breweries Plc and Guinness Nigeria Plc have announced price increases for selected beer, malt, and soft drink products, citing rising operational and production costs amid challenging economic conditions.
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Japan Releases Strategic Oil Reserves Amid Middle East War
Japan has begun releasing its strategic oil reserves following a coordinated International Energy Agency move to ease global price spikes caused by the Middle East conflict.
Travel eSIMs: A Must-Have for Nigerian Travelers in 2026
Discover how travel eSIMs are revolutionizing connectivity for Nigerian travelers, offering cost-effective, hassle-free data solutions abroad. Learn about market growth, key providers like BazTel, and tips for choosing the right plan.
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Four Suspected Bandits Arrested at Akure Airport
The Federal Airports Authority of Nigeria confirms the arrest of four suspected bandits near Akure Airport after a joint security operation involving multiple agencies.
Petrol Import Permits Could Undermine Local Refining, Strain Forex
The Energy Transparency and Market Justice Initiative warns President Tinubu that new petrol import permits may strain Nigeria's foreign exchange reserves and hinder domestic refining efforts, urging policy reconsideration.
Nigeria's Q4 2025 Trade Data: Exports, Imports, Surplus
Nigeria's total trade in Q4 2025 was N36.21 trillion, marking a decline from previous quarters. Crude oil remained the top export, while the country recorded a trade surplus of N1.71 trillion.
CBN Limits Mobile Banking to One Device for Security
The Central Bank of Nigeria introduces new security measures restricting mobile banking apps to one device at a time, with multi-factor authentication for instant payments and enhanced fraud monitoring starting July 2026.
NPA Wins Outstanding Agency of the Year 2025 Award
The Nigerian Ports Authority received the Outstanding Agency of the Year 2025 award from Champions Newspaper, recognizing its port reforms that have significantly boosted Nigeria's trade surplus and maritime efficiency.
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Lagos Workers Relocate to Affordable Suburbs Amid Housing Crisis
Lagos faces a severe housing deficit of 3.396 million units, pushing 9-5 workers to relocate to affordable suburbs in Lagos and Ogun State. Discover key areas like Ikorodu, Epe, and Magboro offering cheaper rents.
Nigerian Stock Market Gains Weekly with N164.8bn Turnover
The Nigerian Exchange closed higher for the week, with the All-Share Index rising 0.73% and market turnover reaching N164.8 billion. Financial Services stocks dominated trading activity.
CBN Removes Affidavit Rule for Dormant Accounts
The Central Bank of Nigeria has simplified dormant account reactivation by removing affidavit requirements and allowing digital channels, while maintaining fraud safeguards.
CBN Sets 18 as Minimum Age for BVN Registration
The Central Bank of Nigeria has issued a directive establishing 18 years as the minimum age for Bank Verification Number registration to strengthen identity verification and combat financial fraud in the banking system.
Canada Border Warning: 10 Items That Can Be Confiscated
Canada warns travellers that everyday items like fruit, meat, and muddy boots can be confiscated at the border to prevent invasive species and diseases from harming ecosystems and the economy.
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Oil Prices Spike Above $100: 4 Reasons Behind the Surge
Global crude oil prices have skyrocketed above $100 per barrel as Middle East tensions escalate, with Brent crude reaching $114. Experts analyze four critical factors driving this surge and potential impacts on Nigeria's economy.
CBN Orders Banks to Monitor Fraud-Linked BVNs from May 2026
The Central Bank of Nigeria mandates banks to monitor BVNs tied to suspected fraud, with a 24-hour watchlist, phone number change restrictions, and age limits for enrollment.
Nigeria Missing from 2026 Top Oil Producers List
A new list of the world's largest crude oil producers in 2026 has emerged, with Nigeria notably absent. The top 10 countries, led by the US and Saudi Arabia, dominate global supply, highlighting Nigeria's declining role in the oil market.
Shoprite Denies Nigeria Exit Rumors, Announces Expansion
Retail giant Shoprite has dismissed shutdown rumors, confirming it remains operational with 23 stores across Nigeria. The company is restructuring, closing some outlets while planning to open two new stores in Lagos as part of a strategic turnaround progr
CBN Sets N20,000 Limit for New Mobile Banking Users
The Central Bank of Nigeria has introduced a N20,000 transaction limit for newly activated mobile banking apps within the first 24 hours. This is part of comprehensive security measures to combat digital fraud.
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Naira Gains N27 vs Dollar, Reserves Top $50bn
The Nigerian naira appreciated by N27.03 against the US dollar in the official market, closing at N1,366.23/$1, while external reserves crossed $50 billion, boosting forex liquidity and market confidence.
Lagos Faces Nine-Hour Power Cut for TCN Transmission Maintenance
The Transmission Company of Nigeria has scheduled a nine-hour power outage in parts of Lagos for maintenance on the Akangba-Ojo transmission line, affecting Apapa, Kirikiri, and Satellite Town.
Tomato Prices Soar After Ramadan as Northern Harvest Ends
Tomato prices in Nigeria are projected to rise significantly following Ramadan due to the conclusion of the harvest season in northern states. A 50kg basket currently sells for N20,000 in the north, with prices potentially reaching N40,000 in other region
Keyamo Faces Sacking Threat Over Airport Cashless Policy
Aviation Minister Festus Keyamo raises alarm about potential dismissal, vowing to enforce cashless policy at Nigerian airports to save his job under President Tinubu.
Failed Relocation Leaves Nigerian Man with N10 Million Debt
A Nigerian man's attempt to relocate abroad backfired, leaving him with over N10 million in debt. His mother's sacrifice of building funds and jewelry helped him survive the crisis.
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Naira Appreciates to ₦1,366/$ in Official Forex Market
The Nigerian Naira strengthened against the US dollar, closing at ₦1,366.23 per dollar in the official foreign exchange market on Friday, March 13, 2026. This represents a 0.3% gain from the previous day, supported by improved forex supply and ongoing pol
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