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Naira loses value in official market as banks sell $584 million.

The Nigerian foreign exchange market saw a significant increase in transaction volume, reaching a total value of $584 million, according to the FMDQ Exchange’s report on Tuesday. This marked a substantial rise from the previous $440 million daily transactions observed on the Nigeria Autonomous Foreign Exchange Market (NAFEX), indicating improved liquidity in the official forex […]

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Shawn Ryan Net Worth

What is Shawn Ryan’s Net Worth? Shawn Ryan is an American screenwriter and television producer who has a net worth of $30 million. Shawn Ryan is known for creating or co-creating such shows as “The Shield,” “Timeless,” “S.W.A.T.,” and “The Night Agent.” He also co-wrote the screenplay to the 1998 mockumentary film “Welcome to Hollywood.” […]

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CBN Orders Banks To Sell Excess Dollars In 24 Hours

In an effort to stabilize the nation’s volatile exchange rate, the Central Bank of Nigeria (CBN) has directed Deposit Money Banks to sell their excess dollar stock by the latest date of February 1, 2024, as revealed by a new circular. The directive specifically targets excess dollar liquidity exceeding $5 billion held by these banks. […]

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CBN increases ITMO application fee to N10 million, prohibits banks and fintechs from providing services.

The Central Bank of Nigeria (CBN) has updated its guidelines, announcing a substantial increase in the application fee for international money transfer operators (IMTO) license applications from N500,000 to N10 million. This surge of about 1,900% over a decade was outlined in the revised guidelines for IMTO operations released on January 31, 2024. In addition […]

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