Naira Strengthens Against Dollar Following CBN’s Forex Market Intervention
The Nigerian naira demonstrated strength against the US dollar, closing at 740.67/$ on the Investor & Exporter forex window. This…
Category: Local
Nigeria Ready to Join Second Phase of AfCFTA’s Guided Trade Initiative
Nigeria’s participation in the second phase of the Guided Trade Initiative (GTI) under the African Continental Free Trade Area (AfCFTA)…
Central Bank of Nigeria Launches Price Verification System to Enhance Trade Transparency
The Central Bank of Nigeria (CBN) has officially launched its Price Verification System (PVS) portal, which will require all applications…
Nigerian Stock Exchange Continues Bearish Trend, Market Capitalization Drops by N58 Billion
The Nigerian Stock Exchange (NSE) has extended its bearish performance from the previous trading session, resulting in a decline of…
Investors Call for Government Support Amid Decline in Manufacturing Sector Profitability
The local manufacturing industry in Nigeria has been hit hard by the harsh operating environment, leading to a significant decline…
Legal Battle Over First Bank Holdings Shares Continues, Court Adjourns Hearing
A Federal High Court in Lagos has adjourned a hearing on various applications related to the controlling shares of First…
Suspended Nigerian Central Bank Governor Faces N6.9 Billion Procurement Fraud Charges
Suspended Central Bank of Nigeria (CBN) Governor Godwin Emefiele is set to be arraigned in court alongside an associate and…
Nigerian Export Promotion Council Targets Over $5 Billion Revenue from Non-Oil Exports
The Nigerian Export Promotion Council (NEPC) is aiming to generate more than $5 billion in revenue from non-oil exports. In…
Manufacturers Association of Nigeria Raises Concerns Over Inflation’s Impact on Manufacturing Sector
The Director-General of the Manufacturers Association of Nigeria (MAN), Segun Ajayi-Kadir, has expressed concerns about the adverse effects of the…
Nigerian Liquefied Natural Gas Ltd Shutdown Threatens Gas Production
The continued shutdown of operations by Nigerian Liquefied Natural Gas Ltd (NLNG) is posing a serious risk to the country’s…
Nigeria Secures $3 Billion Emergency Loan to Stabilize Naira Amid Concerns
The Nigerian National Petroleum Company Limited (NNPCL) and Afreximbank have jointly signed a commitment letter and term sheet for an…
Naira Rebounds Against Dollar as CBN Announces Intervention
The Nigerian naira has rebounded against the United States dollar in the parallel market, closing at 850/dollar. This rebound comes…
Nigeria’s Inflation Hits Highest Level in Almost Two Decades Amid Reforms
Nigeria’s annual inflation rate has surged to 24.08% in July, marking its highest level in nearly two decades and worsening…
FMCGs Report Significant Net Foreign Exchange Losses Amid Exchange Rate Unification
Major consumer goods companies in Nigeria, especially in the fast-moving consumer goods (FMCG) sector, have reported substantial net foreign exchange…
Disability Inclusion Forum Urges President to Review VAT, Address Socioeconomic Hardships
The Accelerate Disability Inclusion in Emergencies Forum (ADIE) has called on President Bola Tinubu to revert the value-added tax (VAT)…
Nigeria Air’s Commencement of Operations Delayed Due to Lack of Airline Operator’s Certificate
The proposed national carrier of Nigeria, Nigeria Air, may face further delays in commencing operations as it lacks an Airline…
Nigerian Government Considers Selling Stakes in State-Owned Companies to Raise Funds
The Nigerian Federal Government is reportedly exploring the possibility of selling stakes in around 20 state-run companies as part of…
Nigerian Oil Marketers Urge Gradual Relaxation of Fuel Subsidy Removal
Oil marketers in Nigeria have advised President Bola Tinubu to consider a gradual relaxation of the removal of subsidy on…
Nigerian Central Bank Implements Measures to Counter Naira Decline and Speculative Activity
Amidst the recent depreciation of the naira in the parallel market, the Central Bank of Nigeria (CBN) has initiated foreign…
Stakeholders to Address Challenges in Nigeria’s Electronic Payment System
Stakeholders in Nigeria’s electronic payment system are gearing up to find solutions to challenges that emerged in the first quarter…
Resumption of Forcados Crude Oil Exports After Month-Long Halt
Exports of the Forcados grade of crude oil have resumed, according to a statement by a Shell spokesperson. The resumption…
Nigerian Government Aims for N100 Trillion Asset Under Management (AuM) Growth Over 10 Years
The Nigerian Federal Government, represented by the Ministry of Finance Incorporated (MOFI), has set a target to achieve N100 trillion…
Nigeria Requires $20 Billion Annual Investment for Gas Expansion Projects
The Nigerian government has stated that approximately $20 billion in annual investments will be necessary to achieve the desired expansion…
Nigerian Central Bank to Rename Official Forex Market as Nigerian Foreign Exchange Market (NFEM)
The acting Governor of the Central Bank of Nigeria (CBN), Folashodun Shonubi, announced that the official foreign exchange market, previously…
Vista Group Acquires Majority Stake in Orabank to Create Pan-African Banking Group
Vista Group has agreed to acquire a 61.4% stake in Orabank S.A., the holding company of Orabank, from existing investors…
Federal Government Plans N360 Billion Bond Issuance to Bridge Budget Deficit
The Federal Government of Nigeria is set to raise N360 billion in new borrowings through a bond auction to address…
NGX RegCo Advocates Expert Guidance and Data Monitoring for Effective ESG Reporting
NGX Regulation Limited (NGX RegCo) has emphasized the importance of seeking expert guidance and systematically monitoring Environmental, Social, and Governance…
Guinea Insurance Secures Regulatory Approval for Private Placement of 1.8 Billion Shares
Guinea Insurance Plc has announced that it has received regulatory clearance to conduct a private placement for the issuance of…
President Tinubu’s Administration Set to Pay N187.32bn Debt to Local Contractors
The forthcoming administration under President Bola Tinubu is projected to allocate around N187.32 billion for settling outstanding debts owed to…
Nigerian Exchange Collaborates for Dollar Settlement Platform to Boost Tech Startup Funding
The Nigerian Exchange Limited (NGX) has revealed its partnership with the Central Securities Clearing System (CSCS) Plc and Euroclear to…