Nigeria To Borrow $1.76 Bln For Security Spending –FinMin
Nigeria plans to borrow 722.53 billion naira ($1.76 billion) from domestic capital markets for additional security spending, Finance Minister Zainab…
Category: Local
Reps Direct CBN To Urgently Check Further Devaluation Of Naira
The House of Representatives on Wednesday directed the Central Bank of Nigeria (CBN) to urgently put in place a policy…
BDC Directors Pledge Support For Exchange Rate Stability
Bureaux De Change (BDC) directors have reiterated their commitment to ensuring stable exchange rate in the country. This was part…
Nigeria Coconut Market Worth Over $6 Billion – Minister
The Minister of State Industry Trade & Investment, Marian Katagum, has advised coconut farmers to harness the global potential market…
Oil Prices And Foreign Exchange (FX) Reserves
One can almost hear the sigh of relief coming from Abuja. Oil prices are up and the immediate threat to…
How Graft At Seaports Fuels Nigeria’s Poor Rating On Global Corruption Index
Stakeholders in the maritime sector have lamented how corruption in Nigeria’s seaports has marred the ease of doing business in…
Anxiety As CBN Raises Customs Exchange Rate For Cargo Clearance To N404.97/ $1
There was uneasy calm at the nation’s seaports on Tuesday following an increase in the exchange rate for cargo clearance…
FG: AfCTA To Boost Africa’s Exports By $560bn
When fully operational, the African Continental Free Trade Area (AfCFTA) agreement will boost exports in the continent by at least…
CBN Increases Forex Allocations To Banks
The Central Bank of Nigeria on Sunday announced an increase in foreign exchange allocations to banks to meet the requests…
CBN’s Pro-Growth Stance, Is The Right Decision
The Central Bank of Nigeria’s Monetary Policy Committee’s recent decision to keep all policy rates unchanged, and to leave the…
FMDQ Commends CBN For Restoring Transparency In FX Market
The Chief Executive Officer, FMDQ Group, Mr. Bola Onadele. Koko, has hailed the Central Bank of Nigeria (CBN) for activating…
Nigeria Loses Billions Of Naira Over Deficient Dry Dock Facilities
Despite controlling about 70 per cent of shipping and international trade in West and Central Africa, Nigeria’s lack of viable dry…
FG Loses 50% Vehicle Import Duty, Levies To Smugglers – Report
The federal government is losing billions of naira in duties payable on imported vehicles as 50 per cent of such…
Nigeria Immigration Reopens Passport Application Portal
The Comptroller General of the Nigeria Immigration Service (CGI), Muhammad Babandede, has announced the reopening of the passport application and…
Counting The Gains Of CBN’s Funding Interventions For MSMEs
The gains of the Micro, Small and Medium Enterprises Development Fund (MSMEDF) driven by the Central Bank of Nigeria, CBN,…
Nigeria’s Twitter Ban Stokes Defiance Despite Prosecution Threat
The Nigerian government’s ban on Twitter Inc. has triggered a wave of defiance among the country’s tech savvy, largely youthful…
FG Pledges Support For Eko Refinery
The federal government has restated its commitment to assist the management of Eko Petrochemical and Refining Company, a subsidiary of…
Patronise CBN-Licensed BDCs, ABCON Charges Customers
The Association of Bureaux De Change Operators of Nigeria (ABCON) has advised foreign exchange users and the general public to patronise…
Airline Operators Count Losses As Forex Scarcity, Naira Devaluation Trap Aircraft Abroad
Several commercial aircraft in the nation’s aviation industry are stranded abroad due to lack of access to foreign exchange at…
Report: Electronic Payment Transactions Increased By N80bn To N21trn In May 2021
Transactions through electronic payment (e-payment) channels increased by N80 billion to N21.27 trillion in May 2021 against the N21.19 trillion…
Nigeria’s Devaluation Won’t Fix Managed-Float Woes
Nigeria’s naira devaluation in May is unlikely to be the last and won’t fix the chronic dollar shortage which hampers…
Nigeria Naira Slides Past 500/Dlr On Black Market, Trading Volumes Drop
Nigeria’s naira slid past 500 per dollar on the black market on Monday to a more than 3-1/2-year low, two…
Move Towards Exchange Rate Unification Positive, Says FSDH
A report by the FSDH Research has described recent move by the Central Bank of Nigeria (CBN) to achieve exchange…
T-Mobile CEO says company is poised to dominate 5G for the next decade
T-Mobile CEO Mike Sievert on Monday laid out his vision for the next decade, telling CNBC that he believes his company…
Banks Commence N6.98 USSD Charge, Customers Kick
Some banks have notified their customers that they will start charging them N6.98 for every USSD transactions. However, experts have…
FX: Analysts Doubt CBN’s Adoption Of ‘Market-Determined’ Rates
Analysts at FBNQuest Research have said that they are not “convinced” by the Central Bank of Nigeria (CBN)’s pledge to…
Nigerian Government-Enforced Twitter Suspension Takes Effect
LAGOS, Nigeria (AP) — Millions of Nigerians were unable to access Twitter Saturday after the government enforced an indefinite suspension…
#TwitterBan: Job Losses Loom, Economic Woes To Worsen, NESG, Experts Warn
Friday Olokor, Leke Baiyewu, Okechukwu Nnodim, Temitayo Jaiyeola, Amarachi Orjiude, Lesi Nwisagbo, Kariola Mustapha, Amarachi Orjiude, Dayo Adenubi, Samuel Olatunji,…
ABCON Okays ‘Operation No Street Trading
The Association of Bureau De Change Operators has approved ‘Operation No Street Trading’ to stop the hawking dollars by Bureaux…
We’re Increasing Forex To Banks For SMEs, Travellers, Tuition
The Central Bank of Nigeria said it has concluded plans to increase the amount of foreign exchange allocated to banks…