CBN Urges Against Speculation, Manipulation Of Forex
The Central Bank of Nigeria has warned Nigerians to be wary of the activities of speculators who sought to manipulate…
Category: Local
President Muhammadu Buhari Seek For The Amendment Of Petroleum Industry Act
President Muhammadu Buhari (retd.), has asked the Senate to amend certain provisions of the controversial Petroleum Industry Act. He was,…
Nigeria record $18.9 billion OTC FX Futures Contracts in 2020
OTC FX Futures (OTC FX Futures) are non-deliverable forwards or contracts where parties agree to an exchange rate for a…
NLNG Describes Nigeria’s Cooking Gas Shortage, Price Hike
YET another indication of Nigerian health workers’ discontent with the increasingly inclement working climate in the country was provided last…
Three Nigeria Bank Generated N75.24 Trillion From Electronic Banking Transactions
With the adoption of digital banking channels and more customers migrating to electronic banking following Covid-19 restrictions, three leading banks,…
Dangote Cement Gets New Leadership
Dangote Cement Plc has appointed Mr. Philip Mathew its new deputy group managing director and chief executive officer. According to…
Nigeria External Debt Stock Figure Rise To $14.37 Billion
The Debt Management Office disclosed in a statement on its website on Tuesday titled ‘Nigeria raises $4bn through Eurobonds’. This…
2022-2024 Medium Term Expenditure Framework and Fiscal Strategy Presentation Stepped Down – Nigerian Senate
The disagreement between the leadership of the Senate and the joint Senate committees that worked on the 2022-2024 Medium Term…
Order Book For $3 Billion Nigeria Eurobond Issue Opened – Investor Notice
Nigeria opened the order book for a $3 billion Eurobond offering on Tuesday, aiming to issue the bond next week,…
BP Oil Trader Pronounced To Be Fired Over Nigeria Bribe Concerns
BP Plc fired an ex-oil trader because he voiced concerns about bribes being paid in Nigeria to secure local contracts, according…
Merchants And Business Outlets Must Accept E-Naira As A Form Of Payment
The Central Bank of Nigeria says the e-naira which is set to be launched on October 1 is a legal…
No More Electricity Subsidy For Nigerians Starting From January 2022
With plans to end the electricity subsidy from next year, Nigerians would have to pay more for the commodity under…
Let’s Unlock Nigeria’s Housing Deficit: Vice President Osinbajo
Vice President Yemi Osinbajo has urged financial market experts to support the Federal Government’s efforts by developing an appropriate housing…
Nigeria Exchange Market Close Negatively Amidst Sell-Offs
At the end of today’s trading session, the Nigerian Exchange market closed negative amidst sell-offs and buy-interests as the benchmark…
N2.35 Trillion Generated From The Sale Of Petroleum
The Nigerian National Petroleum Corporation on Monday said that the total revenue generated from the sale of petroleum products for…
Imports Surge Pushes Trade Deficit Up By 158% In H1’21
A surge in imports has resulted in over 158 percent increase in Nigeria’s trade deficit year-on-year (YoY) in the first…
Troubled Naira, Untapped Remittances And Undefined Role Of BDCs
The die is cast. The official remittance market is in a battle for survival on all fronts. First, its old…
Federal Government Squanders Billions In Ports Revenue Over Stalled Boat Service Contract
The federal government is losing billions of naira in revenue over failure to engage service boat operations monitoring agents in…
Federal Government Expects $2,300 GDP Per Capita By December
The Federal Government has said that it expects Nigeria’s Gross Domestic Product per capita to rise to $2,300 by the…
Nigeria Introduced ‘Guardian Rules’ For Its $9.7 Billion Funds Management Industry
Nigeria has introduced custody rules for its 4 trillion naira ($9.7 billion) fund management industry to protect investors and further…
CDC Group chooses BluePeak and Vantage Funds For First Private Credit Deals
CDC Group Plc, the UK’s development finance institution (DFI) and impact investor, said Tuesday it has made a $60 million…
Dollar Exchange At Different Rates In Lagos And Abuja
The dollar rose to between N572 and N575 in different parts of the country on Monday barely two days after…
Africa To Get 8 New Submarine Cables, To Fully Benefit From International Digital Economy
Industry players have said that Africa will get eight new submarine cables in the coming years. They also said that…
Central Bank Of Nigeria Disbursed N134.57 Billion To Agribusiness/Small and Medium Enterprise Investment Scheme
With the aim of supporting MSMEs across the country, the CBN disbursed N134.57 billion to Agribusiness/Small and Medium Enterprise Investment…
President Muhammadu Buhari Approves Board For Nigerian National Petroleum Company Limited
In his capacity as the Minister of Petroleum Resources, President Muhammadu Buhari has ordered the incorporation of the Nigerian National…
Nigeria To Acquire More Satellites Between Now And 2025
Nigeria is expected to acquire new satellites in another four years for maximum coverage of the country. This is even…
Africa Geonomics Startup “54gene” Secures $25 Million In Series B Funding
Less than 3% of genetic material used in global pharmaceutical research is from Africa. The staggering gap is quite surprising…
Cairo Based E-Commerce Start-Up Raise $33 Million In Series A Round
Funding startups that help manufacturers and sellers distribute products and merchants access them on a single platform keeps increasing across…
Afrexim Annouces Investment In A Pan-African Telecommunications Technology Group – Liquid Intelligence Technology
African Export-Import Bank (Afreximbank) has announced a minority investment by the Fund for Export Development in Africa (FEDA) into Liquid…