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Latest posts - Finance
  • 29 States Generated N317.79bn In Six Months – Nigeria Bureau Of Statistics
    • Blog Post
    • Jan 19, 2017
    The National Bureau of Statistics (NBS) said yesterday that N317.79 billion was generated by 29 states of the federation as Internally Generated Revenues (IGR) from January to June 2016. Lagos State recorded the highest IGR figure of N150.59 billi...
  • Naira Appreciates Further ..see Current Value
    • Blog Post
    • Jan 18, 2017
    Central Bank of Nigeria (CBN), Wednesday, commenced the sale of dollars to bureaux de changes (BDCs) prompting the naira to appreciate to N490 per dollar, from N497 earlier this week, in the parallel market. President, Association of Bureaux...
  • “mmm Has Refused To Match Me Despite My Ph Being In Millions” - Participant Laments
    • Blog Post
    • Jan 18, 2017
    More participants of the Ponzi Scheme MMM are lamenting as they are yet to be able to withdraw their despite been due to be matched. Below is what a participant shared on nairaland: I don’t understand the logic behind it but one thing I know...
  • Businessman Accuses Heritage Bank Of Using His Company's Account To Launder N4.6bn
    • Blog Post
    • Jan 17, 2017
    A businessman has accused Heritage Bank Plc of using his company (Oofortech) account with the bank to launder N4, 660, 000, 000.00 (Four Billion, Six Hundred and Sixty million Naira), even as he alleged threats to his life and that of members of his ...
  • Mavrodians Panic As Mmm Cancels Requests For Payment
    • Blog Post
    • Jan 17, 2017
    The joy of participants (Mavrodians) in MMM over the return of the scheme on January 13, a month after it froze their accounts, has turned out to be shortlived as they have been fed excuse after excuse. On Tuesday, four days after its return it canc...
  • Naira In Free Fall, Crashes Against Euro, Pounds…see Current Value
    • Blog Post
    • Jan 17, 2017
    The Nigerian Naira on Tuesday crashed against pounds and euro but stayed firm at N497/$1 in the black market. The Naira now exchanges N521 per euro from N515 and N597 per pound from N595. The president, Association of Bureau De Change Operators o...
  • Husband And Wife Who Invested Over N2m In Mmm And Others Lament
    • Blog Post
    • Jan 17, 2017
    Mavrodians, the name of account holders in MMM Nigeria, are still unable to get paid a return on their investment more than 96 hours after the Ponzi scheme returned. Quoting some MMM participants reporters said that although they were able to requ...
  • Anxiety As Mmm Is Yet To Dispense Help To Participants
    • Blog Post
    • Jan 17, 2017
    Mavrodians, the name of account holders in MMM Nigeria, are still unable to get paid a return on their investment more than 96 hours after the Ponzi scheme returned. TheCable quoting some MMM participants said that although they were able to request...
  • Naira Stabilises At N497/$ As Hope Of Recovery Imminent
    • Blog Post
    • Jan 16, 2017
    The Naira on Monday stabilised at N497 to a dollar at the open market just as stakeholders expressed hope in its imminent recovery. The Nigerian currency, however, strengthened against the Pounds Sterling, but weakened against the Euro at the open...
  • Heritage Bank Sacks 400 Staff
    • Blog Post
    • Jan 16, 2017
    Heritage Bank has embarked on mass retrenchment of its workers with 400 staff sacked in December. Investigations by the News Agency of Nigeria (NAN) on Monday indicated that more workers are penciled for sack. NAN reports that the bank, in Octob...
  • Nigeria’s Foreign Reserve Hits $26.9bn
    • Blog Post
    • Jan 16, 2017
    Nigeria’s foreign exchange reserves increased week-on-week by 2.51 per cent toUSD26.88billion, according to latest update from the Central Bank of Nigeria, CBN, last weekend. The latest uptick in the reserves came against the backdrop of a week-on...
  • Investors Inject N9.4bn Into Nigeria’s Stock Market
    • Blog Post
    • Jan 15, 2017
    A total turnover of 1.117 billion shares worth N9.041 billion in 16,482 deals were traded this week by investors on the floor of the Exchange in contrast to a total of 4.319 billion shares valued at N7.376 billion that exchanged hands last week in ...
  • Uncertainty As Mmm Help Providers Shrink; Those Seeking Funds Frustrated
    • Blog Post
    • Jan 15, 2017
    The euphoria which greeted the news of the unfreezing of Mavrodi Mondial Moneybox, a ponzi scheme popularly known as MMM, may have subsided as a result of the dearth of people willing to provide financial help. Subscribers to the scheme had go...
  • Mmm:sec Issues Fresh Warning
    • Blog Post
    • Jan 15, 2017
    The Securities and Exchange Commission has once again warned Nigerians against patronizing the Ponzi scheme, MMM stating that its activities were not regulated by the commission or the Central Bank of Nigeria. This is coming after the Nigeria ...
  • Cbn's Efforts To Save Naira Have Crumbled – Imf
    • Blog Post
    • Jan 14, 2017
    Central Bank of Nigeria's efforts to save the naira against other foreign exchange has crumbled, the International Monetary Fund (IMF) has said. The IMF also said the challenges around foreign exchange in Nigeria have pushed inflation to double ...
  • Kogi State Youths Celebrates The Return Of Ponzi Scheme, Mmm
    • Blog Post
    • Jan 14, 2017
    Youths all around the Kogi state capital city of Lokoja on Saturday were at several beer parlours to celebrate the return of the controversial Mavrodi Mondial Movement (MMM), a Ponzi scheme that froze the accounts of 3 million Nigerian members in Dec...
  • Naira Crashes Further. Check Current Value
    • Blog Post
    • Jan 13, 2017
    The Nigerian naira on Friday depreciated further against the dollar, falling close to a predicted 500 to the greenback at the open retail market as dollar scarcity perseveres. The naira hit 497 per dollar on the market, weaker than its openi...
  • Mmm: Sec Warns Nigerians Against ‘bitcoin’ Mode Of Payment
    • Blog Post
    • Jan 13, 2017
    The Securities and Exchange Commission, on Thursday, warned the general public against investing in crypto currencies, such as Swiss coin, OneCoin, Bitcoin and such other virtual or digital currencies. Recall that the Mavrodi Mondial Movement, other...
  • Nigerian Will Get Out Of Recession This Year, World Bank Predicts
    • Blog Post
    • Jan 12, 2017
    The World Bank has predicted that the country will get out of recession and grow its Gross Domestic Product by one per cent this year after plunging into its worst recession in over two decades. The bank said in a statement on Wednesday, “Sub-S...
  • We Will Not Be Blackmailed By ‘wailing Wailers Group’ – Cbn
    • Blog Post
    • Jan 12, 2017
    The Central Bank of Nigeria (CBN) has described the Wailing Wailers Group, using the hashtag #OccupyCBN on Twitter, as blackmailers fighting for the interest of economic saboteurs. In a statement, the apex bank’s acting Director, Corporate Commu...
  • Nigeria's External Reserves On Continues Increase, Hits $26.5bn
    • Blog Post
    • Jan 11, 2017
    The country’s external reserves rose to $26.55bn on January 9, from $26.2bn on January 6, the latest data from the Central Bank of Nigeria showed. The foreign exchange reserves had hit $26bn on January 3, 2017, up from $25.8bn on December 30, 20...
  • Naira Rebounds Against Dollar, See Current Value
    • Blog Post
    • Jan 09, 2017
    The Naira on Monday appreciated at the parallel market after about two weeks of losses. The currency gained 3 points to exchange at N490, from N493 it posted last Friday, while the Pound Sterling and the Euro traded at N600 and N506, respectively. ...
  • Cbn Reduces Weekly Forex Sale By 25% As Nigeria’s Eurobonds Appreciate
    • Blog Post
    • Jan 09, 2017
    THE Central Bank of Nigeria (CBN) last week reduced its weekly foreign exchange sale to banks by 25 percent, even as prices of Nigeria’s Eurobond rose amid renewed investor’s interest. Previously the CBN have been selling $7.5 million dollars ...
  • Mmm Dumps Naira, To Use Bitcoin
    • Blog Post
    • Jan 09, 2017
    MMM Nigeria says it has introduced Bitcoin, said to be the world’s best performing currency in 2016, as part of its mode of payment in its comeback plans The  Ponzi scheme, which froze accounts of its three million  participants on December 13,...
  • The A, B, Cs Of Fg’s N220bn Agric Anchor Borrowers’ Scheme (2)
    • Blog Post
    • Jan 08, 2017
    For citizens of Edo State who aren’t in the know of the Federal Government’s N220 billion Micro, Small and Medium Enterprises Development Fund – agriculture anchor borrowers’ scheme, and how they can benefit, this will serve as a guideline ...
  • Mmm Nigeria Insists On January 14 Come Back
    • Blog Post
    • Jan 07, 2017
    MMM Nigeria, which froze the accounts of its participants in December 2016 has insisted on its promised return on January 14, 2017. The aftermath of the action led to a dose of rumour in the country, with some believing that the structure had cr...
  • See Today’s Naira Exchange Rate Against Dollar, Pound, And Euro
    • Blog Post
    • Jan 06, 2017
    The dollars is exchanging for N493 at market rate, while GBP exchanges for N595 and the Euro for N506
  • Naira Weakens Against Major Currencies See Current Value
    • Blog Post
    • Jan 05, 2017
    It was a bad outing for the Naira on Thursday at the parallel market as it weakened against all three major currencies, the News Agency of Nigeria (NAN) reports. NAN reports that Naira lost three points to the dollar as it closed at N493 to a dollar...
  • Naira Stabilises ..see Current Value
    • Blog Post
    • Jan 03, 2017
    The Naira on Tuesday stabilised at N490 to a dollar at the parallel market in spite of speculations that it would depreciate to N500 to a dollar by the end of 2016, the News Agency of Nigeria (NAN) reports. The Pound Sterling and the Euro also clo...
  • Count Down! Mmm Nigeria Releases New Guidelines For Participants In 2017
    • Blog Post
    • Jan 03, 2017
    In expectation of January 14 relaunch of the ponzi scheme, MMM Nigeria has released new guidelines for participants for 2017, Nigerian Bulletin reports. According to the release, MMM programmers are working earnestly with a new model which will be...
  • Naira Crashes Further… See Current Value
    • Blog Post
    • Jan 02, 2017
    The naira is set to witness another round of decline against the dollar in the days ahead as an increase in dollar flows from Nigerians living abroad coming home for holidays fell short of expectations, traders said. Foreign exchange reserves la...
  • Nse Sustains Market Growth, Appreciates By 0.34%
    • Blog Post
    • Dec 30, 2016
    The Nigerian equity market ended for the year on Friday on a positive note, with indices appreciating by a growth of 0.34 per cent. The market capitalisation for the third consecutive day maintained an upward trend, growing by N31 billion or 0.34 ...
  • ‘naira Among World’s Worst Performing Currencies’
    • Blog Post
    • Dec 29, 2016
    Nigeria’s currency, naira was listed among one of the world’s worst performing currencies in 2016. According to a report by Bloomberg LP, the naira was said to have lost 36.68 per cent of its spot returns for the year, while the Egyptian poun...
  • Naira Crashes Further ,see Current Value
    • Blog Post
    • Dec 28, 2016
    The Naira on Wednesday weakened to N490 to a dollar at the parallel market after appreciating to N485 to a dollar during the Christmas break. The News Agency of Nigeria reports that the Naira lost five points, representing a depreciation of 1.03 per...
  • Cbn To Sell N124bn Treasury Bills
    • Blog Post
    • Dec 27, 2016
    The Central Bank of Nigeria, CBN will on Thursday, January 5, 2017 issue for sale treasury bills worth N124.84 billion. The bills are said to have maturities between three months and one year. Through the Dutch auction system, the CBN will offer N2...
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