Sami Tunji, Author at Nairametrics Destination for Business news and analysis from Africa's largest economy Sun, 18 Aug 2024 10:02:46 +0000 en-US hourly 1 https://wordpress.org/?v=6.5.5 https://nairametrics.com/wp-content/uploads/2021/08/cropped-cropped-favicon-1.png?resize=75,75 Sami Tunji, Author at Nairametrics 32 32 201037849 Forex reserves drop by $342.97 million, first time in four months  https://nairametrics.com/2024/08/18/forex-reserves-drop-by-342-97-million-first-time-in-four-months/ https://nairametrics.com/2024/08/18/forex-reserves-drop-by-342-97-million-first-time-in-four-months/#respond Sun, 18 Aug 2024 09:25:59 +0000 https://nairametrics.com/?p=496042 Nigeria's external reserves have dipped by approximately $342.97 million over a period of nine days. 

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]]> https://nairametrics.com/2024/08/18/forex-reserves-drop-by-342-97-million-first-time-in-four-months/feed/ 0 496042 Nigeria eyes $500 million World Bank loan to reduce staffing gaps in education, health sectors  https://nairametrics.com/2024/08/16/nigeria-eyes-500-million-world-bank-loan-to-reduce-staffing-gaps-in-education-health-sectors/ https://nairametrics.com/2024/08/16/nigeria-eyes-500-million-world-bank-loan-to-reduce-staffing-gaps-in-education-health-sectors/#respond Fri, 16 Aug 2024 08:55:06 +0000 https://nairametrics.com/?p=495927 Nigeria is on the verge of securing a $500 million loan from the World Bank, a significant financial boost aimed at addressing critical challenges in the country’s education and healthcare sectors. 

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]]> https://nairametrics.com/2024/08/16/nigeria-eyes-500-million-world-bank-loan-to-reduce-staffing-gaps-in-education-health-sectors/feed/ 0 495927 Top 10 most expensive states to live in Nigeria in July 2024  https://nairametrics.com/2024/08/16/top-10-most-expensive-states-to-live-in-nigeria-in-july-2024/ https://nairametrics.com/2024/08/16/top-10-most-expensive-states-to-live-in-nigeria-in-july-2024/#respond Fri, 16 Aug 2024 07:10:09 +0000 https://nairametrics.com/?p=495902 The cost of living in Nigeria is high but stabilizing, with July 2024 Consumer Price Index (CPI) data showing a decrease in inflation rates across both all items and food.   

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]]> https://nairametrics.com/2024/08/16/top-10-most-expensive-states-to-live-in-nigeria-in-july-2024/feed/ 0 495902 GTBank denies website cloning claims, confirms attempted domain breach  https://nairametrics.com/2024/08/15/gtbank-denies-website-cloning-claims-confirms-attempted-domain-breach/ https://nairametrics.com/2024/08/15/gtbank-denies-website-cloning-claims-confirms-attempted-domain-breach/#respond Thu, 15 Aug 2024 12:52:47 +0000 https://nairametrics.com/?p=495870 Guaranty Trust Bank (GTBank) has confirmed an attempted hacking incident on its website, addressing recent media reports that claimed hackers had seized and cloned the bank's website, intercepting customer data. 

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]]> https://nairametrics.com/2024/08/15/gtbank-denies-website-cloning-claims-confirms-attempted-domain-breach/feed/ 0 495870 Nigeria to issue $500 million domestic dollar bond on Monday   https://nairametrics.com/2024/08/15/nigeria-to-issue-500-million-domestic-dollar-bond-on-monday/ https://nairametrics.com/2024/08/15/nigeria-to-issue-500-million-domestic-dollar-bond-on-monday/#respond Thu, 15 Aug 2024 11:53:39 +0000 https://nairametrics.com/?p=495857 The Federal Government of Nigeria plans to issue its dollar-denominated domestic bond next week Monday, as it hopes to raise $500 million from local and foreign investors.  

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]]> https://nairametrics.com/2024/08/15/nigeria-to-issue-500-million-domestic-dollar-bond-on-monday/feed/ 0 495857 Nigerian businesses are reducing workforce, CBN data reveals https://nairametrics.com/2024/08/15/nigerian-businesses-are-reducing-workforce-cbn-data-reveals/ https://nairametrics.com/2024/08/15/nigerian-businesses-are-reducing-workforce-cbn-data-reveals/#respond Thu, 15 Aug 2024 08:11:13 +0000 https://nairametrics.com/?p=495832 The Central Bank of Nigeria's (CBN) latest Purchasing Managers' Index (PMI) report for July 2024 reveals that the Composite Employment Index continued its downward trend for the seventh consecutive month, reflecting ongoing challenges in the labour market. 

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]]> https://nairametrics.com/2024/08/15/nigerian-businesses-are-reducing-workforce-cbn-data-reveals/feed/ 0 495832 FG seeks N190 billion from bond market in August, lowest offer in 2024  https://nairametrics.com/2024/08/15/fg-seeks-n190-billion-from-bond-market-in-august-lowest-offer-in-2024/ https://nairametrics.com/2024/08/15/fg-seeks-n190-billion-from-bond-market-in-august-lowest-offer-in-2024/#respond Thu, 15 Aug 2024 07:16:19 +0000 https://nairametrics.com/?p=495828 The Federal Government of Nigeria, through its Debt Management Office (DMO), has announced plans to raise N190 billion from the bond market in August 2024. 

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]]> https://nairametrics.com/2024/08/15/fg-seeks-n190-billion-from-bond-market-in-august-lowest-offer-in-2024/feed/ 0 495828 NASS proposes N25 million fine for anyone operating unlicensed insurance business in Nigeria  https://nairametrics.com/2024/08/14/nass-proposes-n25-million-fine-for-anyone-operating-unlicensed-insurance-business-in-nigeria/ https://nairametrics.com/2024/08/14/nass-proposes-n25-million-fine-for-anyone-operating-unlicensed-insurance-business-in-nigeria/#respond Wed, 14 Aug 2024 09:13:09 +0000 https://nairametrics.com/?p=495762 The National Assembly of Nigeria has proposed a penalty of N25 million for individuals found operating unlicensed insurance businesses in the country. 

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]]> https://nairametrics.com/2024/08/14/nass-proposes-n25-million-fine-for-anyone-operating-unlicensed-insurance-business-in-nigeria/feed/ 0 495762 MPC member warns against proposed increase in Ways and Means limit  https://nairametrics.com/2024/08/14/mpc-member-warns-against-proposed-increase-in-ways-and-means-limit/ https://nairametrics.com/2024/08/14/mpc-member-warns-against-proposed-increase-in-ways-and-means-limit/#respond Wed, 14 Aug 2024 08:56:11 +0000 https://nairametrics.com/?p=495758 Murtala Sabo Sagagi, a member of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN), has expressed concerns that the proposed increase in the Federal Government of Nigeria's Ways and Means limit from 5% to 10% could lead to a significant surge in excess liquidity within the Nigerian economy. 

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]]> https://nairametrics.com/2024/08/14/mpc-member-warns-against-proposed-increase-in-ways-and-means-limit/feed/ 0 495758 CBN incurs N1.55 trillion interest from T-Bills sales in first half of 2024  https://nairametrics.com/2024/08/13/cbn-incurs-n1-55-trillion-interest-from-t-bills-sales-in-first-half-of-2024/ https://nairametrics.com/2024/08/13/cbn-incurs-n1-55-trillion-interest-from-t-bills-sales-in-first-half-of-2024/#respond Tue, 13 Aug 2024 15:30:59 +0000 https://nairametrics.com/?p=495713 The Central Bank of Nigeria has incurred an estimated N1.55 trillion in interest payments for the 12 successful Treasury Bills (T-Bills) auctions conduced in the first six months of 2024. 

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]]> https://nairametrics.com/2024/08/13/cbn-incurs-n1-55-trillion-interest-from-t-bills-sales-in-first-half-of-2024/feed/ 0 495713 Three MPC members vote to retain interest rate at 26.25% during July meeting  https://nairametrics.com/2024/08/13/three-mpc-members-vote-to-retain-interest-rate-at-26-25-during-july-meeting/ https://nairametrics.com/2024/08/13/three-mpc-members-vote-to-retain-interest-rate-at-26-25-during-july-meeting/#respond Tue, 13 Aug 2024 15:06:42 +0000 https://nairametrics.com/?p=495709 At least three members of the Monetary Policy Committee (MPC) voted to retain the Monetary Policy Rate (MPR) at 26.25% during the MPC meeting of the Central Bank of Nigeria (CBN) on July 22-23, 2024. 

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]]> https://nairametrics.com/2024/08/13/three-mpc-members-vote-to-retain-interest-rate-at-26-25-during-july-meeting/feed/ 0 495709 Nine firms purchase $25.76 million from CBN’s retail Dutch auction to repay loans  https://nairametrics.com/2024/08/12/nine-firms-purchase-25-76-million-from-cbns-retail-dutch-auction-to-repay-loans/ https://nairametrics.com/2024/08/12/nine-firms-purchase-25-76-million-from-cbns-retail-dutch-auction-to-repay-loans/#respond Mon, 12 Aug 2024 18:27:53 +0000 https://nairametrics.com/?p=495663 The Central Bank of Nigeria (CBN) conducted a Retail Dutch Auction on August 6, 2024, where nine companies purchased a combined total of $25.76 million to meet their loan repayment obligations.  

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]]> https://nairametrics.com/2024/08/12/nine-firms-purchase-25-76-million-from-cbns-retail-dutch-auction-to-repay-loans/feed/ 0 495663 Nigerian states spend N139.92 billion servicing external debt in first six months of 2024  https://nairametrics.com/2024/08/12/nigerian-states-spend-n139-92-billion-servicing-external-debt-in-first-six-months-of-2024/ https://nairametrics.com/2024/08/12/nigerian-states-spend-n139-92-billion-servicing-external-debt-in-first-six-months-of-2024/#respond Mon, 12 Aug 2024 05:12:18 +0000 https://nairametrics.com/?p=495608 Nigerian states have collectively spent about N139.92 billion on servicing external debt in the first half of 2024. 

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]]> https://nairametrics.com/2024/08/12/nigerian-states-spend-n139-92-billion-servicing-external-debt-in-first-six-months-of-2024/feed/ 0 495608 NDIC pays 82.36% of insured deposits to customers of liquidated Heritage Bank  https://nairametrics.com/2024/08/12/ndic-pays-82-36-of-insured-deposits-to-customers-of-liquidated-heritage-bank/ https://nairametrics.com/2024/08/12/ndic-pays-82-36-of-insured-deposits-to-customers-of-liquidated-heritage-bank/#respond Mon, 12 Aug 2024 05:01:32 +0000 https://nairametrics.com/?p=495607 The Nigeria Deposit Insurance Corporation (NDIC) has successfully paid 82.36% of the total insured deposits to customers of the now-defunct Heritage Bank, following the revocation of the bank's license by the Central Bank of Nigeria (CBN) on June 3, 2024. 

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]]> https://nairametrics.com/2024/08/12/ndic-pays-82-36-of-insured-deposits-to-customers-of-liquidated-heritage-bank/feed/ 0 495607 Dangote Group purchases $105.33 million from latest CBN’s Retail Dutch Auction  https://nairametrics.com/2024/08/10/dangote-group-purchases-105-33-million-from-latest-cbns-retail-dutch-auction/ https://nairametrics.com/2024/08/10/dangote-group-purchases-105-33-million-from-latest-cbns-retail-dutch-auction/#respond Sat, 10 Aug 2024 14:05:20 +0000 https://nairametrics.com/?p=495562 Dangote Group’s subsidiaries have emerged as major recipients in the latest Retail Dutch Auction conducted by the Central Bank of Nigeria (CBN), purchasing at least $105.33 million in successful foreign exchange (FX) bids. 

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]]> https://nairametrics.com/2024/08/10/dangote-group-purchases-105-33-million-from-latest-cbns-retail-dutch-auction/feed/ 0 495562 Top 10 Banks that got highest FX from CBN’s latest Retail Dutch Auction  https://nairametrics.com/2024/08/10/top-10-banks-that-got-highest-fx-from-cbns-latest-retail-dutch-auction/ https://nairametrics.com/2024/08/10/top-10-banks-that-got-highest-fx-from-cbns-latest-retail-dutch-auction/#respond Sat, 10 Aug 2024 09:26:54 +0000 https://nairametrics.com/?p=495553 The Central Bank of Nigeria (CBN) recently conducted a Retail Dutch Auction System (rDAS) on August 6, 2024, in an effort to mitigate the rising demand pressures in the foreign exchange (FX) market and to promote price discovery. 

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]]> https://nairametrics.com/2024/08/10/top-10-banks-that-got-highest-fx-from-cbns-latest-retail-dutch-auction/feed/ 0 495553 List of banks excluded from CBN’s retail Dutch Auction  https://nairametrics.com/2024/08/10/list-of-banks-excluded-from-cbns-retail-dutch-auction/ https://nairametrics.com/2024/08/10/list-of-banks-excluded-from-cbns-retail-dutch-auction/#respond Sat, 10 Aug 2024 08:56:36 +0000 https://nairametrics.com/?p=495547 Six prominent banks, including United Bank for Africa (UBA), Wema Bank, and Stanbic IBTC, were disqualified from participating in a recent retail Dutch Auction conducted by the Central Bank of Nigeria (CBN). 

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]]> https://nairametrics.com/2024/08/10/list-of-banks-excluded-from-cbns-retail-dutch-auction/feed/ 0 495547 New CBN circular clarifies existing rule on certificate of capital importation for forex repatriation, divestment  https://nairametrics.com/2024/08/09/new-cbn-circular-clarifies-existing-rule-on-certificate-of-capital-importation-for-forex-repatriation-divestment/ https://nairametrics.com/2024/08/09/new-cbn-circular-clarifies-existing-rule-on-certificate-of-capital-importation-for-forex-repatriation-divestment/#respond Fri, 09 Aug 2024 07:55:12 +0000 https://nairametrics.com/?p=495506 The Central Bank of Nigeria (CBN) has issued a clarification on the requirements for divestments and repatriation of foreign investments related to the Certificate of Capital Importation (CCI). 

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]]> https://nairametrics.com/2024/08/09/new-cbn-circular-clarifies-existing-rule-on-certificate-of-capital-importation-for-forex-repatriation-divestment/feed/ 0 495506 CBN drops stop rate on one-year Treasury Bills to 21.889% in latest August auction  https://nairametrics.com/2024/08/08/cbn-drops-stop-rate-on-one-year-treasury-bills-to-21-889-in-latest-august-auction/ https://nairametrics.com/2024/08/08/cbn-drops-stop-rate-on-one-year-treasury-bills-to-21-889-in-latest-august-auction/#respond Thu, 08 Aug 2024 10:15:43 +0000 https://nairametrics.com/?p=495459 The Central Bank of Nigeria (CBN) has adjusted the stop rate on one-year Treasury Bills (T-Bills) to 21.889% in its latest auction held on August 7, 2024. 

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]]> https://nairametrics.com/2024/08/08/cbn-drops-stop-rate-on-one-year-treasury-bills-to-21-889-in-latest-august-auction/feed/ 0 495459 Nigeria records 55% increase in net FX flows to $25.4 billion in first six months of 2024  https://nairametrics.com/2024/08/08/nigeria-records-55-increase-in-net-fx-flows-to-25-4-billion-in-first-six-months-of-2024/ https://nairametrics.com/2024/08/08/nigeria-records-55-increase-in-net-fx-flows-to-25-4-billion-in-first-six-months-of-2024/#respond Thu, 08 Aug 2024 08:06:29 +0000 https://nairametrics.com/?p=495455 The Central Bank of Nigeria (CBN) has said that the results of its policy measures are becoming evident, with net foreign exchange flows rising to $25.4 billion between January and June, marking a 55% increase year-over-year. 

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]]> https://nairametrics.com/2024/08/08/nigeria-records-55-increase-in-net-fx-flows-to-25-4-billion-in-first-six-months-of-2024/feed/ 0 495455