VAM News Update THE Central Bank of Nigeria has said it is set to take new measures to stabilise the naira against the dollar. Acting Governor of the CBN, Folasodun Sonubi, made…
Category: Business
Forex crisis: Marketers propose N720/litre, suspend fuel imports— Report
Oil marketers, on Sunday, indicated that the cost of Premium Motor Spirit, popularly called petrol, would rise to between N680/litre and N720/litre in the coming weeks should the dollar continue to trade…
MD: FHA mortgage bank disburses N10.6bn to 962 beneficiaries
The Federal Housing Authority Mortgage Bank says it has disbursed N10.6bn national housing funds loans to 962 citizens. The Managing Director of the Bank, Hayatudeen Awwal, revealed this during the handover…
Real estate, land unutilised capital hits $300bn— PwC
Nigeria currently has between $300bn and $900bn worth of dead capital in residential real estate and agricultural land, PricewaterhouseCoopers has disclosed. In a report with the title ‘Bringing dead capital to…
BREAKING: CBN staff loans jump by 113%, hit N40bn
The Central Bank of Nigeria has said that it issued N40.67bn loans to members of its staff as of December 2022. This was according to the apex bank’s audited financial statement…
Side Hustles You Can Do To Make Money
VAM News Update Aide to Former President of Nigeria, Reno Omokri has highlighted ‘Side Hustle’ someone can do to earn a living aside from his or her proper job. He said: Even…
Diesel Price To Reach N867, N875/ Litre
VAM News Update Effective today, Saturday, August 12, diesel prices will hit N867 per litre in Lagos state and N875 in the Southwest region, Nairametrics reported. This is according to information gathered…
CBN explains why the Naira has been falling
THE acting Governor of the Central Bank of Nigeria (CBN), Folashodun Shonubi has blamed the continuous of fall of Naira against Dollars on unofficial diaspora remittances. Folashodun Shonubi disclosed this on Thursday,…
New Record As Dollar Hits N950/$
VAM News Update THE naira fell to an all-time low of N950 to one dollar at the parallel market on Thursday afternoon, The Nation has learnt. It had traded earlier this week…
Yusuf: Forex volatility reason for shrink in Nigeria’s manufacturing sector
The Director of the Centre for the Promotion of Private Enterprise, CPPE, Dr Muda Yusuf, said foreign exchange volatility impacted firms’ losses negatively. Yusuf, the former Director-General of Lagos Chamber of…