Forex Speculators To Lose N100bn As CBN Sustains Funding For BDCs
Foreign exchange speculators will lose over N100 billion in the next month as the Central Bank of Nigeria (CBN) sustains…
Category: Local
Nigeria Governors Call For Full Deregulation Of Fuel Prices
Nigeria’s governors have called for a full deregulation of the country’s downstream oil sector so that pump price floats with…
Naira Sells For N411.31/$1 At I&E As Cryptos Recover
Despite a drop in the demand for FX at the Investors and Exporters (I&E) window of the foreign exchange market on Thursday,…
Nigeria’s Biggest Data Center To Double Capacity On Demand Surge
Nigeria’s biggest data services firm, MainOne Cable Co., plans to almost double storage capacity over the next two years after demand…
Green Africa Gets Nod For Ticket Sales
Lagos-based airline, Green Africa, is set to commence ticket sales via its website – greenafrica.com ahead of flight operations following…
Nigeria Has World Bank’s Largest Portfolio Of More Than $12b, Says Malpass
World Bank Group President David Malpass and Vice President for Western Africa, Ousmane Diagana, in a media roundtable on Thursday,…
Nigerians To Pay N234 Billion Taxes Monthly With Petrol At N385 Per Litre
Tougher times are here and any pretension to the contrary has been ripped to shreds with Wednesday’s resolution of the…
Nigeria To Release Swiss Ship Seized Three Years Ago
The Federal Government has agreed to release the Swiss-flagged San Padre Pio oil tanker that was seized in January 2018.…
WorldRemit Reaffirms Commitment To CBN’s Naira 4 Dollar Scheme
Global cross-border payment company, WorldRemit, has said it would continue to reward customers who receive international money transfers through its…
Another Month, Another Good Auction For The DMO
The DMO held its monthly auction of FGN bonds on Wednesday. It offered its regular NGN150bn, raised NGN175bn (USD430m) and…
FG Nabs Black Market Airline Operator, Vows Clampdown
Following recent complaints on activities of illegal operations by private jet owners in Nigeria, federal authority has disclosed that culprits have been nabbed just…
Remittance: FBNQuest Backs CBN’s Extension Of Incentives
Analysts at FBNQuest Research have expressed support for the Central Bank of Nigeria (CBN)’s extension of its “Naira 4 dollar…
Why Immigration Suspended Passport Production
Overwhelmed by the plethora of demands by Nigerians desirous of leaving the country and pressured by the producers of the…
Nigerians To Submit Phone IDs In Three Months, Says NCC
The Nigerian Communications Commission has said Nigerians will have to submit the International Mobile Equipment Identity of their phones to…
Experts Carpet CBN, Say Serial Naira Devaluation Threatens Economy, Nigerians
Financial experts have decried the continuous devaluation of the naira by the Central Bank of Nigeria, stressing its adverse impact…
A Welcome Extension Of The Incentive For Remittances
The CBN has extended its “Naira 4 dollar scheme” until further notice, and will be hoping for a strong recovery…
El-Rufai Attacks Govs Over Strike, NGF Mulls N380/Litre Fuel Price
THE Governor of Kaduna State, Nasir El-Rufai, has accused his fellow governors of abandoning his administration in its face-off with…
Oil Steady Near Three-Week Low With Iranian Crude Flows In Focus
Oil was steady near a three-week low in early Asia trading following a broader market slump as investors weighed the…
National Carrier: Ministry Prepares Memo, Plans 2022 Takeoff Date
The Minister of Aviation, Hadi Sirika, has assured Nigerians that the national airliner will swing into full operation by the…
MDAs Failed To Account For N1.2trn –FRC
The Fiscal Responsibility Commission has said ministries, departments and agencies of the Federal Government are withholding about N1.2trn. The commission…
Why Foreign Direct Investment In Property Sector Dries Out
FDI into UAE climbs over 44% against UN estimates • ICPC: Over 800 properties worth $400m linked to PEPs •…
NASS Approves N74 Billion Budget For Police Trust Fund
The N74 billion budget captures all the demands of the fund which include training and retraining of personnel of the…
Nigeria Lost U.S.$3.5 Billion To Ports Concession, U.S.$90.5 Million To Airports Deals – House
The House of Representatives yesterday said the country lost over $3.5 billion from the concession of 26 ports in Nigeria,…
Naira Gains On I&E Window
The local currency, naira strengthened against dollar on the Investors & Exporters’ (I&E) window, yesterday, closing at N410.75/$1 compared with…
Onne Multipurpose Terminal Opens For Operations
The Onne Multipurpose Terminal has opened its doors for operations. It commenced container operations at Onne Port, in Port-Harcourt thereby…
Nigeria Governors Okay Full Deregulation Of Petrol, Over 100% Price Hike To N385
Ahead of Thursday’s Federation Accounts Allocations Committee (FAAC) meeting, the Nigeria Governors’ Forum (NGF) on Wednesday at its virtual meeting…
Navy Blames NNPC Over Theft Of 200,000 Barrels Of Crude Oil
The Nigerian Navy yesterday exonerated itself from the loss of 200,000 barrels of crude oil to pipeline vandalisation and illegal…
Nigeria Cocoa Hurt By Currency Depreciation, Chemical Costs, Officials And Farmers Say
IBADAN, Nigeria–The output and quality of Nigeria’s 2020-21 cocoa crop are likely to suffer as increased chemical prices and a…
Nigeria’s Naira Firms 8% After Hitting Record Low On Official Market
The Nigerian currency, the naira, briefly firmed 8% on Wednesday to 394 to the dollar on the official market after…
Hedging Against Inflation
Goddy Egene writes that as inflation rate remains above 18 per cent, the stock market still provides investors opportunity to…