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Naira slides to 505/$ as CBN stops forex sale to BDCs

Nike Popoola, Amarachi Orjiude and Sami Olatunji Published 28 July 2021 The naira fell slightly to the dollar at the parallel market few hours after the Central Bank of Nigeria…

Old Mutual boosts savings culture with insurance product

Old Mutual Nigeria, the Nigerian subsidiary of Old Mutual Limited, has said it has developed a two-year savings product with life insurance cover. The underwriter said in a statement on…

Naira exchanges for 503/$ at parallel market

The naira exchanged to the dollar at 503 at the parallel market on Friday according to the Bureau de Change operators. Figures obtained from naijbdcs.com, the official website for the…

Economy shrank in May amid low purchasing power – CBN

The Purchasing Managers Index revealed that the Nigerian economy contracted in May, according to data obtained from the Central Bank of Nigeria on Thursday. The personal statements of some members…