Nigeria’s Diaspora Remittance Hits $19.5bn in 2023, 35% of Sub-Saharan Africa’s Total, World Bank Says
World Bank says Nigeria received $19.5 billion in Diaspora remittances in 2023, 35% of sub-Saharan Africa, although declining 2.9% year-on-year.
World Bank says Nigeria received $19.5 billion in Diaspora remittances in 2023, 35% of sub-Saharan Africa, although declining 2.9% year-on-year.
NESG has endorsed CBN’s decision to end FX Price Verification System, citing removal of regulatory bottlenecks and boost to macroeconomic stability.
CEO Schneider ssys Nestle expects stable growth from Q2 onwards, overcoming cost inflation and sales volume challenges.
Amazon is investigating Perplexity AI for scraping content without permission, amid accusations of plagiarism and fake quotes.
Core inflation rose 0.1% from April to May, the smallest increase since 2020, leading to potential Fed rate cuts in September.
Toyota partners with GAC to launch Bozhi 3X SUV with advanced autonomous driving, aiming to regain market share in China.
Traders of food items in Onitsha have blamed the rising cost of food items in Nigeria on insecurity bedeviling the country.
Olam Agri’s Head of Corporate and Regulatory Affairs Ade Adefeko has highlighted Nigeria’s agricultural sector’s critical challenges, imperiling food security.
CBN Governor Cardoso says Nigeria doesn’t need IMF funding to close liquidity gap for now due to strong policy measures.
NSIA has announced start-ups advancing to the bootcamp stage of the NPI 2.0 for a chance to win prizes worth $220,000.
The NUPRC is collaborating with industry operators to develop Nigeria’s vast heavy crude oil reserves, which is only 5% developed.
Volkswagen says it will initially invest $1bn in Rivian, Tesla’s rival with an additional $4 billion by 2026.
The Central Bank of Nigeria has instructed all banks and international transfer operators to process diaspora remittances in Naira.
Afenifere has urged federal government to reverse Heritage Bank’s license suspension, describing it as former governor governor Ajasin’s economic legacy.
Nvidia’s shares plummeted 13% in three days, causing a record-breaking loss, despite a 11% rise over the past month.
Femi Otedola has acquired nearly 798 million shares in FBN Holdings, solidifying his majority position.
Shoprite is set to shut down its Wuse branch in Novare Central Mall, Abuja, citing harsh economic conditions.
IPMAN has reported nearly 2,000 petrol outlets have closed in response to customs’ impounding of tanker trucks suspected of smuggling.
Stakeholders from Ogoni ethnic nationality in Rivers State have called for resumption of oil exploration in the area.
Netherlands Deputy Consul-General Leonie Van Der Stijl has emphasised the critical importance of investing in Nigeria’s agricultural sector.
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