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Corruption in Nigeria is a constant phenomenon. In 2012, Nigeria was estimated to have lost over $400 billion to corruption since its independence. [2] [3] Nigerian politicians find themselves in a strong position of power and wealth due to their connections with the oil and gas industries in Nigeria.
The 2023 Nigerian currency crisis was precipitated by a shortage of cash currency (the naira) and an attempt by the Nigerian government to force citizens to use a newly created government-sponsored central bank digital currency. This led to extensive street protests in mid-February 2023.
The New Telegraph is an all-national newspaper in Nigeria, with a circulation of up to 100,000 copies per day.. The New Telegraph targets Nigerian and foreign readers in and around the country's urban centers, as well as internationally, and aims to provide objective and incisive coverage of pressing political and socio-cultural issues.
Nairametrics is a Nigerian online newspaper that focuses on business and economic current affairs. It was established in 2013 by Obi-Chukwu Ugodre as a product of Nairametrics Financial Advocates Limited.
On 26 July 2023, a coup d'état occurred in Niger, during which the country's presidential guard removed and detained president Mohamed Bazoum.Subsequently, General Abdourahamane Tchiani, the Commander of the Presidential Guard, proclaimed himself the leader of the country and established the National Council for the Safeguard of the Homeland, after confirming the success of the coup.
According to a recent (June 2024) report by Naija News, the parallel market exchange rate of the naira to the U.S. dollar is around ₦1483 per 1 USD, significantly higher than the official Central Bank of Nigeria rate. This disparity highlights underlying economic challenges and market pressures. [69] Rate of the Nigerian naira for US$1 (1994 ...
The Central Bank of Nigeria (CBN) is the central bank and apex monetary authority of Nigeria established by the CBN Act of 1958 and commenced operations on 1 July 1959. [3] The major regulatory objectives of the bank as stated in the CBN Act are to: maintain the external reserves of the country; promote monetary stability and a sound financial environment, and act as a banker of last resort ...