Finance
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Naira Weakens to N1,745/$1 on Parallel Market Amid Speculative Trading
The exchange rate between the Nigerian naira and the U.S. dollar slid back to around N1,745/$1 on the parallel market…
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Nigeria’s Proposed Tax Reform Bill, Explained
A proposed amendment to Nigeria’s tax laws has sparked debates nationwide, especially concerning the sharing formula for value-added tax (VAT)…
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Asian Hackers Steal $17 Million from Uganda’s Central Bank
Hackers have infiltrated the systems of the Bank of Uganda, stealing a staggering 62 billion Ugandan shillings (approximately $17 million),…
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Biden Set to Become President With Most Economic Sanctions in US History
As the 2024 presidential election approaches, President Joe Biden is shaping up to become the most sanctions-heavy president in U.S.…
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USD to Naira Black Market Exchange Rate Hits ₦1,710: Key Insights for November 2024
As of November 2, 2024, the exchange rate for the US dollar (USD) against the Nigerian naira (NGN) in the…
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Zimbabwe’s New Gold-Backed Currency Saw 50% Devaluation in Six Months
Less than six months after Zimbabwe introduced the ZiG, or Zimbabwe Gold, as its latest currency, the Southern African country…
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Top 10 Cities with the Most Centi-Millionaires in the World
As global wealth continues to accumulate at unprecedented rates, cities around the world are becoming hubs for the ultra-wealthy. Centi-millionaires,…
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South Africa Tops Africa’s Largest Economies, Nigeria’s GDP Projected to Decline to $199.72 Billion by End of 2024 – IMF Report
The International Monetary Fund (IMF) World Economic Outlook (WEO) report for October 2024 has projected that Nigeria will end the…
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Nigeria Loses N13 Trillion to FX Subsidies, Says World Bank
According to a new report by the World Bank, Nigeria incurred a staggering loss of N13 trillion due to foreign…
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BRICS Nations Expected to Surpass Global GDP Growth in 2024 – Putin
Russian President Vladimir Putin has predicted that the BRICS nations will see higher economic growth than the global average by…
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