FG To Reduce Petrol Price By N5 From Monday
The Federal Government has agreed to slash the pump price of Premium Motor Spirit (PMS), known as petrol, by N5…
Category: Local
Oil Drops Toward $45 With Virus Surge Tempering Vaccine Optimism
Oil fell for a second day as near-term demand risks due to a resurgent pandemic tempered optimism over the prospect…
Fresh Pressure Mounts On Naira, Trades N482/$1 At Black Market
During the trading session, the local currency depreciated by N7 to sell for N482/$1 in contrast to the previous session’s…
FG To Generate $30bn From 22 Major Products On Export
Federal Government has said it is working assiduously to boost the country’s non-oil revenues having rolled out export policies for…
Nigeria Resumes Fuel Import From China
According to data from the General Administration of Customs as obtained by S&P Global Platts, the Asian country shipped 37,000…
Buhari Renominates Kuru As MD Of AMCON; Appoints New Heads For NDIC
President Muhammadu Buhari has renominated Mr Ahmed Kuru as Managing Director and Mr Eberechukwu Uneze and Mr Aminu Ismail as…
December 2020 FGN Savings Bonds Offer For Subscription
Pursuant to the Debt Management Office (Establishment) Act 2003 and the Local Loans (Registered Stock and Securities) Act, CAP. L17,…
Nigerians Must Embrace Production To Grow Economy —Emefiele
Governor of the Central Bank of Nigeria, Mr Godwin Emefiele, has said Nigeria must return to the golden era age…
190,000 Applicants Jostle For 9,460 NIS, NSCDC Jobs
About 190,000 applicants are jostling for 9,460 job slots at the Nigeria Immigration Service and the Nigeria Security and Civil…
Oil Falls On Surging Virus Cases And U.S.-China Tensions
Oil prices slipped on Monday as the positive impact from COVID-19 vaccines and an OPEC+ deal on oil production cuts…
CBN Charges Nigerians On Lower Appetite For Foreign Goods
The Central Bank of Nigeria (CBN), yesterday, advised Nigerians to moderate their taste for foreign goods with a view to…
Norway’s DNB Faces $45 Million Fine Over Money Laundering Compliance Work
DNB, Norway’s biggest bank, could be fined 400 million Norwegian crowns ($45.4 million) by the country’s financial regulator (FSA) for…
CBN Defines Chief Compliance Officers’ Role In Banks
The Central Bank of Nigeria (CBN) has approved new requirement for the appointment of chief compliance officers (CCOs) by banks.…
Tumbling Naira: Resolving Nigeria’s Balance Of Payment Deficit
Domiciliary accounts and remittances have emerged as twin touchy issues in the management of Nigeria’s foreign exchange market (forex). And…
Suspension Of Barge Operations: Nigeria Economy On The Verge Of Collapse – SINET
President Muhammadu Buhari has been urged to urgently call for the immediate withdrawal of a letter which purportedly ordered the…
Lufthansa Resumes Flights To Nigeria
The first Lufthansa flight after an eight months suspension occasioned by the coronavirus pandemic, arrived in Lagos last Thursday. The…
CBN Expects $2bn Diaspora Remittances Monthly, Says Emefiele
The Governor of the Central Bank of Nigeria, Godwin Emefiele, on Thursday, said the target of the CBN is for…
Nigeria Losing $1.9bn Annually To Foreign Ship Owners – NSC
The Chief Executive Officer, Nigerian Shippers’ Council Hassan Bello, has said that Nigeria is losing $1.9bn to foreign ship owners…
Dangote: Naira Devaluation Will Not Affect Nigeria’s Food Fortification Targets
Dangote said this at the 3rd Annual Nigeria Food Processing and Leadership Forum, which he chaired alongside Bill Gates, co-chair…
Why We’ve Been Able To Fast-Track Lagos-Badagry Expressway Project — FG
The Federal Government says additional alternative funding is speeding up reconstruction of the Lagos-Badagry Expressway. The Federal Controller of Works…
Devaluation In Nigeria: Lesson For The Next Government By Dr Nasir Aminu
The effects of weakening the naira include more expensive imported goods. In an ideal world, this should discourage imports into…
Recession: Nigerians Must Moderate Foriegn Goods Consumption To Stabilize Economy – CBN
Central Bank of Nigeria, has advised Nigerians to moderate their insatiable tastes for consumption of foriegn goods to stabilize the…
Naira Steady As Oil Output Slips And Remittances Fall
Nigeria’s central bank weakened the naira for the third time this year amid dollar shortages and lower than anticipated foreign…
We’ll Allow Freedom Of Speech, Not Reckless Use Of Social Media, Says FG
The Minister of Information and Culture, Alhaji Lai Mohammed, yesterday, restated the resolve of the President Muhammadu Buhari-led government to…
Tons Of Cocoa Beans Are Piling Up In Nigerian Ports
In Nigeria, efforts to claw back some of the foreign-exchange earnings lost to falling oil prices are causing delays in…
Nigerian Currency Loses 1.1% Against USD At Parallel Market
The Naira took a slide against the US Dollar at the black market on Friday after it depreciated by N5…
Lagos-Ibadan Train Tickets’ll Cost N3,000 To N6,000 – FG
The Federal Government on Friday announced the approval of transport fares on the new Lagos-Ibadan standard gauge rail line scheduled…
Covid-19 – Restrict Int’l Flights, Muric Tells Govt
The Muslim Rights Concern has urged the Federal Government to restrict international flights over worldwide reports indicating a second wave…
Dangote Refinery Named Among 20 Most Influential Projects In The World
Dangote Oil Refinery has been listed among top 20 influential projects surveyed in the last 18 months by the renowned…
Taxpayers Relieved From Tax Investigation Beyond Six Years
The Tax Appeal Tribunal (TAT or “the Tribunal”) sitting in Benin on 8 October 2020 decided in Citibank Nigeria Limited…