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CBN Blames NNPC For The Fall Of Naira To N720 Per US Dollar
Non-remittance of dollars to foreign reserves by the Nigeria National Petroleum Corporation (NNPC) is responsible for naira’s free fall in the official and parallel markets, the Central Bank of Nigeria (CBN) has said.As at the close of work yesterday, the naira traded for N700/$1 at the parallel market and N415.96/$1 at the official market.The C -
Naira Crash: Peter Obi Urges Nigerians To Stop Using Dollars For Local Transactions
Peter Obi, the presidential candidate of the Labour Party has urged the government and Nigerians to stop using foreign currencies like the US dollars for local transactions.He disclosed this in a recently posted tweet, where he stated that Nigeria’s confidence in the national currency needed to be restored.This comes on the heels of a massive de -
Davido Berates Naira After Buying A Drink At N25k In Netherlands
The worsening decline of the Naira against the Dollar is affecting everyone including rich folks like Davido.The singer who is currently in the Netherlands, shared the picture of a cocktail be bought in a bar over there.Posting a photo of the drink, Davido noted that at the current conversion rate, the cocktail retails for almost N25,000. He wrote -
Naira Crashes To N720 To 1 US Dollar For First Time In History
Nigerian Naira has reached the lowest point ever when it traded for 720NGN/$1. There has been speculation that the Naira could be heading for $1 to 1000 before the end of the year 2022 if the outlook of the Nigerian economy does not improve.Less than 10 years ago, Naira still traded for around 120NGN to $1 USD, but it appears those were happy days -
The Central Bank Of Nigeria To Arrest And Prosecute Anyone Using Naira To Buy Dollars
The Central Bank of Nigeria has threatened to arrest and prosecute Nigerians using naira to buy dollars. “For those taking money from banks to buy dollars, it is illegal to do so. If the security agencies hold you, you will know the implication of that,” Godwin Emefiele, CBN governor, said Tuesday at the Monetary Policy Committee (MPC) meeting -
EFCC Tenders Fresh Evidence Against Naira Marley In His Credit Card Fraud Case
A third prosecution witness in the ongoing trial of Azeez Fashola popularly known as Naira Marley has told Justice Nicholas Oweibo of the Federal High Court sitting in Lagos how electronic tools used for accessing compromised credit card information was found on the laptop of the defendant.The witness, Dein Whyte, who is the Chief Detective Office -
UPDATE: Naira Falls To 620 Per $1 At Parallel Market
The naira extended its decline at the parallel market yesterday, falling to N620 per dollar compared with the N615/$1 it traded last week, traders said. Bureaux De Change operators (BDCs) attributed the local currency’s decline to increased demand for dollar by importers at the parallel market. According to the operators, the scarcity of the gre -
Delta Police Rescue 45-year-old Man, Michael Ozor With Fake Naira Notes From Irate Mob
A 45-year-old man identified as Michael Ozor who allegedly made a POS transaction with fake naira notes with the intent to defraud the POS Operator in Delta state has been rescued by operatives of the Eagle-Net Special Squad from an angry mob that almost lynched him.The Police Operatives were said to be on routine patrol along Asaba/Onitsha Bridge -
Naira Marley Accepts Zinolesky As His Sister's Husband To Be (VIDEO)
Ace Nigerian singer and rapper, Naira Marley has given his express approval of the relationship between his sister, Shubomi and his record label artiste, Zinoleesky. The trio were partying at an event when Naira decided to inform fans that Zinoleesky has already been accepted as his brother in-law. In a video posted on social media, the ‘Tesumol -
ICPC Retrieves Over A Billion Naira, Rolex Watches From Ex-Army Chief Buratai In Abuja
ICPC operatives have conducted an operation that led to the recovery of over a billion naira from the former chief of army staff Tukur Buratai.The operation, conducted last week, also led to the recovery of over 50 luxury watches, including at least two Rolex varieties, from the former military commander, according to anti-graft officials familiar -
ICPC Raids Buratai's Abuja Home, Recover Luxury Watches and Billions Of Naira
Operatives of the Independent Corrupt Practices and Other Related Offences Commission (ICPC) have reportedly raided the home of a former Chief of Army Staff, Tukur Buratai.According to the report, the ICPC operative recovered over a billion naira from Buratai, who is now Nigeria’s Ambassador to Benin Republic.The anti-graft agency was said to ha -
Davido Buys Ifeanyi A Luxury Watch Worth Over 100 Million Naira, Taunts Wizkid FC As Best Dad
The singer just bought his 2-year-old son, Ifeanyi a brand new wrist-watch named Audemars Piguet. On Watch Shyopping.com, an AP watch cost between $25,000- $300,000.The one Davido acquired for Ifeanyi is an AP Royal Oak worth over $150,000 (N150 Million). Davido took to his Instagram page to show off the watch and as well welcome Ifeanyi to the AP -
BBnaija's Queen Flaunts Naira And Dollars Sprayed On Her For Her Birthday (VIDEO)
Big Brother Naija season six ex-contestant, Queen Mercy Atang has taken to social media to show off the bundles of cash she gathered from her birthday celebration. The reality TV star turned 27 on Saturday, June 11, 2022 and she threw a lavish party which had some of her colleagues in attendance. BBNaija stars like Liquorose, Cross and Arin were s -
EFCC Forensics Indict Naira Marley On 11 Count Fraud Charge
The Cybercrime Section of the Economic and Financial Crimes Commission, on Thursday, submitted reports of forensic investigations led by Whyte Dein to corroborate their case against singer Azeez Fashola a.k.a Naira Marley, charged with credit card fraud before the Ikoyi Federal High Court.Dein, the Chief Detective Officer of the Section told the c -
Chinese National, Li Lei Lei Bags Two Years Jail Terms For Naira Mutilation In Lagos
The Lagos Zonal Command of the EFCC on Tuesday, May 31, 2022, secured the conviction and sentencing of one Li Lei Lei, a Chinese national, to 24 months imprisonment for mutilating the Nigerian currency. He was convicted by Justice I. Nicholas Oweibo of the Federal High Court sitting in Ikoyi, Lagos.The convict was arraigned on a four-count charge -
Federal Government To Spend 999 Million Naira Daily To Feed 10 Million Pupils
The Federal Government on Tuesday said N999 million would be spent daily to feed approximately 10 million pupils in the National Home Grown School Feeding Programme (NHGSFP) across the country. Hajiya Aishatu Digil, the Team Lead of NHGSFP disclosed this at a stakeholders meeting on disbursement modalities for the review cost of feeding in the pro -
Malami Accused Of Interfering With EFCC’s Probe Of Multi-Million Naira Pension Fraud In University
Sunday Ajibade, a former worker of Achievers University, Owo, Ondo State has accused the management of the institution owned by a former House of Representatives member, Bode Ayorinde, of diverting millions of naira of pension contributions of staff members. He also accused Nigeria’s Attorney-General, Abubakar Malami of allegedly interfering wit -
Naira Drops To N604/$ At The Parallel Market
As at Thursday, 19th May, 2022, the Nigerian Naira has crashed to N604/$ at the parallel from N565 at the start of the year, according to Nairametrics. The report stated that the latest change is based on information acquired from Nigerian Bureau De Change operators. BDCs attributed the increase in dollar demand to the election season as politicia -
Outrage As Mysterious Fire Gutted Akwa Ibom Market, Destroy Shops & Goods Worth Millions Of Naira
At least about eight lock up shops have been burnt down, and goods worth millions of naira destroyed at the popular Itam market , Uyo Akwa Ibom State capital, following mysterious fire that entered a section of the market on Tuesday nightThe cause of the inferno could not be ascertained at press time, even though newsmen who visited the scene on W -
Naira Continues Fall Against Dollar, See Latest Exchange Rate
The naira exchanged N590 to a dollar at the parallel market on Thursday, according to information obtained by Nairametrics. This is as the exchange rate between the naira and the US dollar closed at N420/$1 at the official Investors and Exporters (I&E) window, falling by 0.3% from N418.25/$ recorded the previous day. This represents the lowest -
All My Money For You - Video Of Lady Showering Her Man With Naira Notes
A young Nigerian lady has been seen appreciating her boyfriend in a video making the rounds on social media. She made stacks of naira notes rain on him while they were inside his car and the act left him speechless. The lady was singing along to Mayorkun’s song playing on the stereo as she sprayed the money on her man non-stop. She kissed him an -
Bling Bling! Video Of Naira Marley Spotting A N12million Naira Ring He Just Acquired
Nigerian singer, Azeez Adeshina Fashola, popularly known as Naira Marley has splashed millions of naira on a new diamond ring. The Marlian president has left jaws open after he bought a super expensive diamond-encrusted ring. Taking to social media, the 30-year-old singer who turns 31 today, May 10, 2022, showed off a diamond-encrusted ring -
UPDATE: UI Atmospheric Centre Remains Uncompleted, Despite Multi-Million Naira Allocation
In September 2019, the management team of the UI University of Ibadan (UI)under the erstwhile Vice-Chancellor, Idowu Olayinka, paid a courtesy visit to the Deputy Senate Majority Leader, Ajayi Boroffice, in his office at the National Assembly in Abuja.This courtesy visit, part of the last administration’s strategy of reaching out to the Universi -
Weeks After Acquiring Multi Million Naira Mansion, Laide Bakare Adds Two More Cars to Garage
Nollywood actress, Laide Bakare has splashed millions on acquiring two luxury cars.The Yoruba actress took to her Instagram page to share the good news as she appreciated her creator for the blessings.The actress mentioned that there comes a time in a lady’s life when she decides to pamper herself with extravagant things.Laide revealed that she -
I Gave Wizkid His First Ever 1 Million Naira Show – Samklef Boasts As He Shares Video Evidence
Nigerian musician, Samklef has revealed that he gave star singer, Wizkid his first one million show. He also shared a video evidence to prove that he played an important role in the life of the musician following his recent global acclaim. He warned fans of Wizkid also known as Wizkid FC to stop insulting and disrespecting his brand after he weigh -
Naira Marley Asks Nigerians About Getting Presidential Form As He Reacts To It's High Cost
Nigerian singer, Naira Marley has reacted to the controversy surrounding the presidential nomination form of the ruling the All Progressives Congress (APC).We recalls that the APC had announced that presidential candidates are expected to pay N100 million to buy the nomination form while the governorship candidates will pay N50 million.The price o -
BREAKING: Nigerians In Shock As Naira Depreciates, Sells At N419.50 To Dollar
This represents a 0.28 per cent depreciation, compared to N418.33 to the dollar recorded on Wednesday.The open indicative rate closed at N417.81 to the dollar on Thursday.An exchange rate of N444 to the dollar was the highest rate recorded within the day’s trading before it settled at N419.50.The Naira sold for as low as N410 to the dollar withi -
10yrs Old Girl S*x Video: Naira Marley Gets The Blame For Polluting Children’s Mind From Nigerians
Angry Nigerians have taken to Twitter to blame Naira Marley over the Chrisland sex tape scandal.Recall, a 10-year-old girl is sadly trending after a tape of her and some boys from Chrisland Schools was shared on the internet. This ugly situation escalated after Ubi Franklin called out the school for trying to cover up the act which he described as -
Reactions as Davido Gifts His P.A Isreal DMW’s Fiancee Half a Million Naira For Airtime
Nigerian singer, Davido has gotten many talking as he gifted his personal logistics manager, Isreal DMW’s fiancee a whopping 500, 000.The billionaire singer claimed that the money was for her to recharge her phone.Taking to his Instagram story to share the good news, Isreal DMW appreciated his boss for the kind gesture. “My Oga just gave my F -
FG Promises Two Million People Will Start Receiving 20 Billion Naira Starting From June
The Federal Government of Nigeria has announced that two million people will receive almost N20 billion in basic and conditional cash transfers under the National Cash Transfer Program starting in June this year.According to reports, the Federal Government will pay each of the two million persons N5,000 as a basic cash transfer and another N5,000
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