SCAM CONFIRMATION. July WARNING: There is a 3rd FPA Traders Court guilty vote against Gainsy. Until this and other issues are.
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Ladies and gentlemen, we are currently in stagflation.
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Nigeria badly needed diaspora remittances. The latest data by the CBN revealed that diaspora remittances in the first 9 months of have dropped by Nigerians have grown to appreciate diaspora remittances for the sheer size of the dollar liquidity it provides, and how it eases the pressure on the naira. With the dwindling revenue from oil and other alternative channels that remit dollars to the country such as cryptocurrency exchanges, the government needed to find creative ways to attract dollar inflow through the official channels. We covered what it means and how it works here.
Trading Against the Forex Crowd in Volatile Currency Markets
It will be interesting to see the impact this will have on the period of this CBN promo. The policy is scheduled to end on the 8th of May, The meter-long Ever Given cargo ship which got stuck in Suez Canal on Tuesday last week was finally refloated this morning. According to data from Leth Agencies , as of Sunday afternoon, there were vessels awaiting transit due to the blockage. Although there is a reactionary movement on the oil prices since the refloating.
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It is not expected to have any significant impact on the market now. It is expected that the traffic of ships affected by the blockage will take about one week to cross the canal and out of the Suez corridor. Investors are now out for a good return on their investments and in Q1 so far, a couple of companies are offering really attractive dividends.
You can get more information on this here.
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The company has been operating in Nigeria since and this appointment adds to the list of female executives leading flagship corporations in Nigeria. Kuda bank made the news last week by creating a job opening for only female interns in a bid to balance the gender gap in the company. Access our Live Feed portal for the latest company earnings as they drop. Get the scoops and market intelligence that can help you make better investment decisions right in your mailbox.
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Share Tweet. Chike Olisah.
Click to comment. Leave a Reply Cancel reply Your email address will not be published. Comment Name Email Website. Published 16 hours ago on March 30, By Chike Olisah. On Tuesday the Sudanese Finance Ministry revealed new security and administrative measures to prevent speculation in foreign currency.
He said that the increase in the official price of the US Dollar to SDG 18 will be applied to all state institutions after the public budget is passed. Dirar said that there would be a halt to the importation of government vehicles and furniture and the introduction of legislation to tighten the prevention of currency speculation. He added that 63 per cent of imports are exempted from customs duties which will lead to a lowering in prices after the cancellation of all these duties on production inputs.
In a press statement of Tuesday, the Director of the Central Bank of Sudan CBoS , Hazim Abdelgadir, announced an agreement between the bank and the Ministry of Finance that the Ministry will buy foreign currency, especially the US Dollar from the bank at the parallel market price instead of the official price. He stressed willingness to provide the amounts needed by the Finance Ministry. Foreign currency dealers said there is great fear when dealing directly with their customers after the penalties and security measures adopted by the authorities in November , in an attempt to stem the unofficial foreign exchange market.
The measures have seen currency dealers being arrested, while others fled abroad. In an attempt to boost foreign currency reserves, the CBoS has also instructed all banks in Sudan to hand over remittances by Sudanese expatriates abroad in the same currency as the transfer. Our editorial independence means that we can continue to provide fact-checked, reliable updates to Sudanese people and international stakeholders.