Association of Bureaux De Change Operators of Nigeria Calls for Ban on Binance Operations
The Association of Bureaux De Change Operators of Nigeria (ABCON) has urged the Nigerian government to ban the operations of…
Day: August 9, 2023
Nigerian Safety Investigation Bureau and Lagos State Emergency Management Agency Collaborate to Enhance Crash Site Safety
The Nigerian Safety Investigation Bureau (NSIB) and the Lagos State Emergency Management Agency (LASEMA) have signed a Memorandum of Understanding…
Nigerian Farmers Yet to Receive Promised Fertilizers from Government
The All Farmers Association of Nigeria has revealed that farmers have not yet received the fertilizers promised by President Bola…
Telecommunication Firms Consider Proposed Repayment Plan to Settle N120bn USSD Debt
Telecommunication companies are contemplating a repayment proposal from Deposit Money Banks (DMBs) to resolve the N120 billion debt related to…
NDIC commences payment of depositors in 183 banks closed by CBN
The Nigeria Deposit Insurance Corporation (NDIC) has assured depositors of closed microfinance banks (MfBs) and mortgage banks of the prompt…
OPEC-13 Crude Oil Production Hits Near Two-Year Low
According to a survey by S&P Global Commodity Insights, OPEC-13’s crude oil production reached a near two-year low in July…
WTO Director-General Ngozi Okonjo-Iweala Assures Support for Nigeria
World Trade Organization (WTO) Director-General Ngozi Okonjo-Iweala has pledged her support for Nigeria during its difficult economic challenges. After a…
Naira Hits Record Low of N900/$1 on Parallel Market
The Nigerian naira has reached a record low of N900 against the US dollar on the parallel market, driven by…
Trans-Saharan Trade at Risk Due to Border Closure
The closure of the border between Nigeria and Niger Republic has put approximately $1.3 billion worth of trade at risk…
Rising Costs Impact Nigeria’s Housing Market
Nigeria’s housing market has experienced a sharp increase of about 40% in the cost of leases and sales in the…
Nigeria Suffers $7 Billion Economic Damage from 2022 Floods
The Nigerian government has reported that the direct economic damage caused by floods in 2022 amounts to $7 billion, with…
Nigeria Loses N20 Trillion Annually Due to Tax Gaps
Nigeria is reportedly losing an estimated N20 trillion annually due to tax gaps, as revealed by Taiwo Oyedele, Chairman of…
Nigeria’s Manufacturing Sector Faces Decline in Production Value
The Manufacturers Association of Nigeria (MAN) has reported a decline in the value of manufacturing production due to a challenging…
Nigerian Banks Deposit N822.34 Billion with Central Bank Amid Excess Liquidity
Nigerian Deposit Money Banks (DMBs) deposited N822.34 billion with the Central Bank of Nigeria (CBN) in July 2023, marking a…