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Naira crisis worsens as currency-in-circulation tumbles to N1.54tn

Herconomy
Feb 20
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Tech Updates

Meta is rolling out a new paid verification subscription service for Instagram and Facebook users

Meta is rolling out a new paid verification subscription service called Meta Verified, CEO Mark Zuckerberg announced in an Instagram update Sunday. Read more…

YouTube CEO is stepping down after nearly a decade in the role

YouTube CEO Susan Wojcicki said Thursday she is “stepping back” from her leadership role at the company after nearly a decade of running the video-sharing platform. Read more…

Business Matters

Naira crisis worsens as currency-in-circulation tumbles to N1.54tn

Amid the worsening naira crisis, the total amount of currency-in-circulation in the Nigerian economy has tumbled from N3.3tn to N1.54tn. Read more…

New naira: FCT lawyers face frustration filing proceedings

Lawyers and litigants in the Federal Capital Territory, Abuja, have expressed frustration over their inability to file court proceedings as a result of the scarcity of new naira notes. Read more…

CBN: IMF calls for review of 2007 Act

The International Monetary Fund has called for a review of the Central Bank of Nigeria Act 2007 to strengthen the bank’s autonomy and governance. Read more…

Rising inflation worsening poverty, LCCI warns FG

The Lagos Chamber of Commerce and Industry has warned that the sustained rise in the general price level in recent times has caused some weakening in purchasing power. Read more…

Naira crisis: Kaduna residents turn to petrol stations for help

Residents of Kaduna State have turned to petrol filling stations for help in their desperate search for cash to satisfy their pressing needs, reports the News Agency of Nigeria. Read more…

Stock investors lose N281bn in one week

Stock investors lost N281bn at the end of trading on the floor of the Nigerian Exchange Limited last week. Read more…

Inaccurate measurement accounts for 40% of oil losses – FG

About 40 per cent of the volumes credited to crude oil losses in the Nigerian petroleum industry are due to measurement inaccuracies and not theft, the Federal Government said on Sunday. Read more…

Fuel queues may return as NNPCL depots run low

Fuel queues may to filling stations soon if the Nigerian National Petroleum Company Limited does not ramp up importation and beef up petrol supplies across the country. Read more…

Quote of the Day

“The path to success is to take massive, determined actions.”
—Tony Robbins

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