MaTaZ ArIsInGTexas The Federal Government is set to introduce new rules for the foreign exchange market and also crackdown of illegal trading of currency by the end of 2023. The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele disclosed this in an interview with Bloomberg, adding that it is hoped that […] Read more
MaTaZ ArIsInGTexas The Nigerian Naira experienced a significant drop on Tuesday, hitting an all-time low against the US dollar in both official and parallel markets. The currency depreciated by 8.9% from Monday’s closing value, falling to N848.12/$1 from N778.80/$1 in the official market, according to data from FMDQ. This sharp decline was triggered by a […] Read more
MaTaZ ArIsInGTexas Investment pledges amounting to nearly $14 billion U.S. dollars were committed during the Nigeria-India Presidential Roundtable and Conference in New Delhi convened by H.E. President Bola Ahmed Tinubu. Heirs Holdings Group Chairman, Tony O. Elumelu C.F.R., urged the Indian private sector to seize the opportunity to invest in Nigeria, during the Nigeria-India Presidential […] Read more
MaTaZ ArIsInGTexas The Acting Governor of the Central Bank of Nigeria, Folashodun Shonubi, has said the apex bank will repay banks all outstanding forward contract debts in the next one to two weeks. Although he did not disclose the total amount of the outstanding dollar debts, a report by JPMorgan, a United States-based bank in […] Read more
MaTaZ ArIsInGTexas Fuel Importation and Subsidy NNPC is the organization saddled with the responsibility to manage Nigeria’s oil resources and production and should be the one with the responsibility to ensure its safety and should be the one to bear the consequence of whatever went wrong. I’m from the banking background and I know for […] Read more
MaTaZ ArIsInGTexas Nigeria Breweries Plc reported an exchange rate loss of N70.6 billion for the second quarter of the year ended June 30th, 2023. This is according to the information contained in its just published interim report for the first half of the year. Key highlights 2023 Q2 Insights: The losses were a result of the […] Read more
MaTaZ ArIsInG(Texas USA) Google on Wednesday announced that Nigerians can now make payments on its Play Store using the local currency, the naira. This followed its partnership with Verve, the largest domestic card scheme in Africa, to make digital transactions on Google Play Store easier and more accessible for Nigerians. As of today, Google said […] Read more
MaTaZ ArIsInG(Texas USA) The following, written by an unknown author, captures the Nigerian debacle: US Dollar vs NIG Naira: The Real Issues MaTaZ ArIsInG SUBSCRIBE TO OUR NEWSLETTER NOW Support MATAZ ARISING’ journalism of integrity and credibility. Good journalism ensure the possibility of a good society, an accountable democracy, and a transparent government. We ask […] Read more
MaTaZ ArIsInG The director, publicity and advocacy, Northern Elders Forum, NEF, Hakeem Baba-Ahmed, has said the immediate past president, Muhammadu Buhari, lowered the bar of governance in the country. He said the “woeful performance” of the former president will never be matched by any president. Mr Baba-Ahmed stated this in an interview with Vanguard Newspaper […] Read more
MaTaZ ArIsInG …Issues 8 new guidelines to banks, forex dealers Nigeria’s apex bank, the Central Bank of Nigeria (CBN), has announced the unification of all segments of the Nigerian forex market. The apex bank, in a statement Wednesday, announced the collapse of all windows into the Investors & Exporters (I&E) window. This move is part […] Read more
