Latest News Update
OPay to Implement Transfer Fees; See Reasons and when
OPay has announced a new policy in line with Federal Inland Revenue Service (FIRS) regulations. Beginning September 9, 2024, the company will impose a one-time fee of N50 on electronic transfers of N10,000 or more. This fee will apply to both personal and business accounts.
The move is part of OPay’s effort to comply with recent financial regulations and adjust to new operational guidelines.
SHareSee the Effect of CBN reform tames blackmarket on Nigeria’s Naira Throughout this month, the naira has traded consistently between 1,473 and 1,485 per dollar, as reported by FMDQ data compiled by Bloomberg. This has resulted in its 10-day rolling volatility hitting a one-year low and its 100-day fluctuations dropping to their lowest since November. […]
SHareNCC Revokes Press Statement on Starlink Operations The Nigerian Communications Commission (NCC) has retracted its recent press statement concerning Starlink, the satellite internet provider. In a communication sent to media outlets on Tuesday, the NCC admitted that the statement was issued by mistake and requested that editors and journalists withdraw any associated articles. […]
SHareSee How Naira Drops in Parallel Market Today Yesterday, the Naira fell to N1,505 per dollar in the parallel market, down from N1,495 per dollar last weekend. Similarly, it declined to N1,490.2 per dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM). FMDQ data revealed that the indicative exchange rate for NAFEM increased to […]