Author: meridianspy

The Naira depreciated to N1,405 per dollar in the parallel market, from N1,305 per dollar on Wednesday. Similarly, the Naira depreciated in the Nigerian Foreign Exchange Market, NAFEM, to N1,309.88 per dollar. Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,309.88 per dollar from N1,308.52 per dollar on Wednesday, indicating N1.36 depreciation for the naira. Consequently, the margin between the parallel market and NAFEM rates widened to N95.12 per dollar from N45.15 per dollar the previous day

Read More

Ola Olukoyede, the Chairman of the Economic and Financial Crimes Commission (EFCC), revealed how much banks in Nigeria have lost to internet fraud, otherwise known as Yahoo-Yahoo Boys, in 2022. According to Olukoyede, On Tuesday, said in an interview with newsmen, internet fraudsters have robbed several banks of ₦8 Billion. He narrated how cybercrime has hurt companies and its negative effects in attracting direct foreign investment for the country. The EFCC Chairman further stated that no fewer than 71 percent of companies operating in Nigeria were victims of cybercrime in 2022 even as he argued that the Commission’s war…

Read More