Shocking!!! ‘Three million Nigerians lost N18b to MMM’

The Nigeria Deposit Insurance Corporation (NDIC) has said three million Nigerians lost N18 billion in the Ponzi scheme, popularly called Mavrodi Mundial Movement (MMM). Its Managing Director Alhaji Umaru Ibrahim attributed the figure to social media while speaking yesterday at the NDIC day at the 38th Kaduna International Trade Fair. Ibrahim, who was represented by…

CBN: Naira Depreciates Further Now N520/$1.00

The Central Bank of Nigeria, CBN, has rolled out a new foreign exchange window to stem the tide of demand pressures which had battered the Naira in the unofficial foreign exchange market. But the new measures, which increased supply of foreign exchange resources to the market, came on stream, yesterday, just as the fortunes of…