Stephenzzz's Posts
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 Business › CBN Suspends Access Bank, Zenith, UBA, And Others From Issuing New Loans. by Stephenzzz(op): 2:33pm On Dec 12, 2023 |
The Central Bank of Nigeria (CBN) has mandated commercial banks, including Access Bank, Zenith, UBA, and others, to take charge of loan recoveries for funds granted under its various intervention schemes. The apex bank also disclosed a..... https://ratecaptain.com/cbn-suspends-access-bank-zenith-uba-and-others-from-issuing-new-loans/ |
| Politics › Naira Depreciates To N935/$ In The Official Market. by Stephenzzz(op): 3:13pm On Dec 04, 2023 |
In a concerning economic development, the Nigerian Naira started a new low on Monday, opening at N927.19 per dollar in the official market and N1165 per dollar in the parallel market. This marks an 11.39% depreciation, with the domestic currency opening at .... https://ratecaptain.com/naira-depreciates-to-n935-in-the-official-market/ 1 Like |
| Politics › Tinubu Present N27.5 Trillion As 2024 Budget by Stephenzzz(op): 1:36pm On Nov 29, 2023 |
Nigeria, despite being Africa’s largest economy, unveils its proposed 2024 budget of N27.5 trillion ($33 billion), revealing a stark contrast to the budgets of its continental counterparts. President Bola Tinubu’s presentation to.... https://ratecaptain.com/top-story-fg-allocates-n27-5-trillion-for-2024-budget/ |
| Politics › FG Allocates N5.1 Billion For Presidential Yacht And N5.5 Billion Student Loans by Stephenzzz(op): 1:17pm On Nov 01, 2023 |
The Federal Government of Nigeria has proposed the allocation of N5.095 billion for the purchase of a Presidential yacht and N5.5 billion for the education loan fund in the 2023 supplementary budget, according to details obtained by Nairametrics. The 2023 supplementary appropriation details reveal............. https://ratecaptain.com/fg-allocates-n5-1-billion-for-presidential-yacht-and-n5-5-billion-student-loans-in-2023-supplementary-budget/ |
| Travel › Air Peace CEO Raises Concern Over Delay In Accessing $14 Million Held By CBN by Stephenzzz(op): 12:58pm On Nov 01, 2023 |
The Chairman of Air Peace, Mr. Allen Onyema, has voiced his concerns over the delay in accessing $14 million held by the Central Bank of Nigeria (CBN), which has been lodged with the bank for six months. The $14 million was paid in........ https://ratecaptain.com/air-peace-chairman-raises-concern-over-delay-in-accessing-14-million-held-by-cbn/ |
| Business › Naira Strengthens As Anticipation Mounts For $10 Billion Forex Inflows by Stephenzzz(op): 1:16pm On Oct 31, 2023 |
The Nigerian naira has experienced a boost as the Federal Government unveils the sources of an anticipated $10 billion forex inflow, alleviating pressure on the...... https://ratecaptain.com/naira-strengthens-as-anticipation-mounts-for-10-billion-forex-inflows/ 1 Like |
| Business › Binance CEO, Changpeng Zhao, Loses $12 Billion As Crypto Market Slumps by Stephenzzz(op): 12:01pm On Oct 27, 2023 |
Binance Founder CZ Loses $12 Billion on Crypto-Trading Slumphttps://www.bloomberg.com/news/articles/2023-10-26/binance-founder-cz-loses-12-billion-on-crypto-trading-slump#xj4y7vzkg 7 Likes 4 Shares
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| Business › Naira Gains Ground Against US Dollar On Parallel Market by Stephenzzz(op): 1:15pm On Oct 26, 2023 |
In a surprising turn of events, the Nigerian Naira witnessed an appreciation against the US Dollar on the unofficial parallel market, commonly known as the black market, on Wednesday. This development comes after a period of persistent foreign exchange pressure that had pushed the Naira to as low as N1,310 per dollar. On Wednesday afternoon, the exchange rate stood at N1,300 per dollar, marking a notable 0.76% increase, equivalent to........ https://ratecaptain.com/naira-gains-ground-against-us-dollar-on-parallel-market/ 1 Like |
| Politics › IMF Forecasts: The Fastest Growing Economies In 2024 by Stephenzzz(op): 1:30pm On Oct 25, 2023 |
RateCaptain analysts have presented enlightening projections for worldwide economic in 2024, relying on information derived from the International Monetary Fund’s (IMF) October 2023 World Economic Outlook. The comprehensive analysis not only provides an overview of the predicted GDP growth worldwide but also delves into the regions set to experience the most substantial economic expansion in the upcoming year. As anticipated, a significant number of countries poised for remarkable economic growth in 2024 are situated in...... https://ratecaptain.com/imf-forecasts-the-fastest-growing-economies-in-2024/ |
| Politics › Dangote Refinery Set To Drive Further Fuel Price Hike In Nigeria. by Stephenzzz(op): 2:54pm On Oct 23, 2023 |
A recent report by the Economist Intelligence Unit (EIU) has projected that the Dangote Refinery, nearing completion in Nigeria, will have a significant impact on the country’s petroleum industry. The report anticipates that by 2028, the refinery will lead to further price increases in the sector. The EIU’s forecast is based on...... https://ratecaptain.com/dangote-refinery-set-to-drive-further-fuel-price-hike-in-nigeria/ |
| Politics › FG And NLC Reach Resolutions Following Fuel Subsidy Dispute by Stephenzzz(op): 1:18pm On Oct 02, 2023 |
In a statement issued late on October 1, 2023, by Mallam Mohammed Idris, the Minister of Information and National Orientation, the Federal Government of Nigeria and the Nigeria Labour Congress (NLC) reached five significant resolutions after a crucial meeting held on Sunday, October 1, to address the looming strike threat by organized labor. The primary focus of the discussions was the....... https://ratecaptain.com/fg-and-nlc-reach-resolutions-following-fuel-subsidy-dispute/ |
| Business › Amazon Announces $4 Billion Investment In AI Firm Anthropic by Stephenzzz(op): 3:21pm On Sep 25, 2023 |
n a strategic move to bolster its presence in the ever-evolving field of artificial intelligence, Amazon revealed its plans on Monday to invest up to $4 billion in Anthropic, an AI firm specializing in generative AI technology. Amazon’s investment will also........ https://ratecaptain.com/amazon-announces-4-billion-investment-in-ai-firm-anthropic/ |
| Business › Nigerian Naira Hits Record Low At 980/$: BDC Operators Condemns Situation by Stephenzzz(op): 10:17am On Sep 22, 2023 |
The Nigerian naira has continued its alarming descent against the US dollar, plummeting to a new low of 980 naira to the dollar at the parallel market on Thursday. This steep decline comes only a week after the naira was trading at a relatively stronger rate of 950 naira to the dollar. Bureau de Change (BDC) operators are pointing......... https://ratecaptain.com/nigerian-naira-hits-record-low-at-980-amid-currency-woes/ |
| Politics › Nigeria’s Inflation Surges To 25.80% In July. by Stephenzzz(op): 9:46am On Sep 18, 2023 |
Nigeria’s inflation rate surged to 25.80% in July, marking a significant increase of 1.72% compared to the previous month, according to a report released by the National Bureau of Statistics (NBS) on Friday. This rise in inflation reflects the mounting cost of...... https://ratecaptain.com/nigerias-inflation-surges-to-25-80-in-july/ |
| Travel › Airpeace Embarks On Ambitious Expansion With $300 Million Plane Order by Stephenzzz(op): 4:03pm On Sep 15, 2023 |
Air Peace, West Africa’s largest airline, has inked a transformative deal with the renowned aircraft manufacturer, Embraer Aerospace Corporation, to acquire a fleet of 10 state-of-the-art aircraft worth $300 million. This announcement was made at the grand Aviation Africa Summit and Exhibition held in Nigeria’s capital, Abuja, which witnessed the gathering of industry stakeholders from across the globe, including..... https://ratecaptain.com/airpeace-embarks-on-ambitious-expansion-with-300-million-plane-order/ |
| Politics › Nigeria’s Debt Soars By 75% In Three Months, Reaches ₦87 Trillion by Stephenzzz(op): 3:04pm On Sep 15, 2023 |
Nigeria’s Debt Management Office (DMO) has reported that the country’s total public debt reached ₦87.38 trillion ($113.42 billion) at the end of the second quarter of 2023, marking a significant increase of 75.29% compared to the ........ https://ratecaptain.com/nigerias-debt-soars-by-75-in-three-months-reaches-%e2%82%a687-trillion/ |
| Politics › Nigeria Faces Widespread Blackout As National Grid Collapses by Stephenzzz(op): 6:42pm On Sep 14, 2023 |
In a shocking turn of events, Nigeria was plunged into darkness as the national power grid experienced a complete collapse in the early hours of Thursday, September 14, 2023. The Enugu Electricity Distribution Company (EEDC) Plc reported that the grid failure occurred at...... https://ratecaptain.com/nigeria-faces-widespread-blackout-as-national-grid-collapses/ |
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