The Central Bank of Nigeria (CBN) said it will start selling foreign money, called FX, to special shops called Bureau De Change (BDCs). These shops help people who need money for trips and small payments.
A....
The exchange rate for paying duties with the Nigeria Customs Service (NCS) has gone up by N3 more than the official closing rate of the Naira on the NAFEM window.
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Sure, I'll rewrite the blog post using simpler and more straightforward language. I'll make sure it's easy to understand even for young children. Here we go:
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The federal government wants to take half of the profit that banks make from...
The federal government wants to tax banks 50% of profit made from foreign exchange revaluation in 2023.
This plan is in the new Finance Act for 2023 that the President sent to the National Assembly for...
President Tinubu has asked the Senate to change the 2023 Finance Act to make banks pay a one-time tax on the money they made from foreign exchange in 2023.The President wrote a letter to the Senate. He said that...
Sure! Let's break it down and keep it simple for everyone:
The value of the Naira, Nigeria's money, has fallen for the fifth day. Even though the Central Bank of Nigeria (CBN) tried to help, the Naira is now at...
The Pharmaceutical Manufacturers Group of the Manufacturers Association of Nigeria (PMG-MAN) says there is not enough foreign money in Nigeria. They are worried because this makes it very hard for medicine companies to work.
They also...
Nigeria is facing economic problems like rising prices, a weaker Naira, and changing trust from investors. Experts say that the country needs to create a steady and...
In Nigeria, the official foreign exchange (FX) market saw a big increase this week. It went up by 40%!
Some information from FMDQ, collected by Nairalytics, reveals this rise. Last week (July 1 to...
The exchange rate for Nigeria Customs Service (NCS) duties has gone up from N1,520 per dollar to N1,558 per dollar.This is an increase of N38 from the previous rate and it's higher than the NAFEM closing rate of N1554.65...
