In a move aimed at rectifying the persisting distortions in the retail segment of Nigeria’s foreign exchange market, the Central Bank of Nigeria (CBN) has taken a decisive step to bridge the... Read more »
After a week of sustained raids, the operations of Bureau De Change (BDCs) will resume nationwide today (Tuesday), it has been learnt. After a week of sustained raids, the operations of Bureau... Read more »
Naira appreciates further to N1,650/$ at parallel market Naira appreciated by 6.78 percent, representing N120 drop compared to the N1,770/$ traded on February 23, 2024. Read more »
Pat Utomi, a prominent economist and leader of the Labour Party, has issued a strong caution that the naira could plummet to N10,000 per dollar if immediate action is not taken. Utomi... Read more »
The Association of Master Bakers and Caterers of Nigeria has announced that it is poised to begin a nationwide strike on Tuesday, February 27. In a statement on Monday announcing the strike,... Read more »
Qatar has now agreed to President Bola Tinubu’s proposal for a meeting to discuss business matters, despite previous reports suggesting that they had rejected the visit. The meeting is scheduled for March... Read more »
Former Anambra State Governor, Peter Obi, criticized the reported crackdown on Bureau De Change (BDC) operators by government agencies, stating that it is misguided. The Economic and Financial Crimes Commission (EFCC) conducted... Read more »
Nigeria’s economy grew 3.46% in the fourth quarter (NGGDPQ=ECI), opens new tab, a similar pace as it did a year earlier, data showed on Thursday, as oil output picked up and government... Read more »
The federal government on Thursday, February 23, announced that it has stopped the exportation of Liquefied Petroleum Gas (LPG) also known as cooking gas, to reduce the scarcity and soaring price in... Read more »
Black market racketeers are currently taking advantage of the few day’s strike actions by tanker drivers, as the price of Premium Motor Spirit popularly known as petrol skyrocketed, hitting ₦1000 per litre... Read more »
The naira Tuesday slid further at the parallel market in spite of the clampdown the federal government ordered on foreign exchange market speculators. Bureau De Change (BDC) hubs were raided in Abuja,... Read more »
Dangote Cement Plc has vehemently denied accusations of attempting to export cement to the Republic of Cameroon via Adamawa State, Nigeria. The company clarified that two of its trucks, each laden with... Read more »
Food prices have begun to decrease at major grain markets in Kano, Taraba, and Niger states.In recent weeks, there have been protests in Lagos, Kano, and Niger states, as well as in... Read more »
The Federal Government on Monday vowed to address the concerns of oil transporters and distributors to ensure smooth operation despite the high cost, especially in the maintenance of trucks used in the... Read more »
The Naira experienced a sharp depreciation against the US dollar on February 19, 2024, reaching an intra-day high of N1,712. The domestic currency depreciated by 3.78% to close at N1,598.54 to a dollar at the... Read more »
The Airline Operators of Nigeria (AON) have raised concerns about the industry’s existential threat, attributing it to difficulties in accessing foreign exchange for maintenance and other dollar-based activities. Handling companies, airports, and... Read more »
In a bid to accumulate tax returns, Bola Ahmed Tinubu has issued a directive mandating all self-funded agencies, including the Nigeria Civil Aviation Authority (NCAA), to remit 50% of their revenue to... Read more »
President Bola Tinubu has announced Nigeria’s preparedness to host the African Central Bank in alignment with the vision outlined in the Abuja Treaty. Speaking at the 37th Ordinary Session of the Assembly of Heads... Read more »
Nigerian Breweries Plc has recorded a net loss of N106 billion for the year ended 2023, as against N13.93 billion posted in its 2022 financials, indicating 860 per cent loss. Company Secretary,... Read more »
The Central Bank of Nigeria (CBN) says it has stopped the payment of personal and business travel allowances (PTA/BTA) by banks in the country. This is part of the apex bank measure... Read more »