Category: Finance
Jul
11
CAC Orders 4,173 BDCs to Change Names or Face Dissolution
The Corporate Affairs Commission (CAC) of Nigeria has issued a directive to 4,173 Bureau De Change (BDC) companies whose licenses were recently revoked by the Central Bank of Nigeria (CBN). These companies are required to change their names within three months or face the cancellation of their certificates of incorporation and subsequent dissolution. This directive […]
Jul
10
Nigeria’s FX Reserves Exceed $35 Billion, a First Under Tinubu
Nigeria’s external reserves have seen a notable increase, reaching $35.05 billion as of July 8, 2024. This marks the highest level since May 30, 2023, when the reserves stood at $35.09 billion, just before the introduction of the foreign exchange (FX) unification policy in June 2023. This is the first time the reserves have crossed […]