Foreign investors’ interest in Nigeria declines by 27.5%
Nigeria received about $8.4bn investment announcements as at 4th March 2021, out of which $5.46bn were pledged by foreign investors. The remaining $2.08bn was promised […]
Foreign exchange
CBN authorises payment service banks to sell dollars
The Central of Nigeria (CBN) yesterday released supervisory framework for payment service banks (PSB). The framework among other things empowered the PSB operators to sale […]
Sylva: subsidy killed refineries
Sustenance of the petrol subsidy regime is one of the reason that killed the refineries, Minister of State Petroleum Timipre Sylva said on Sunday. He […]
With N800b extra budget, no excuse for military, says Ndume
With N800 billion proposed as supplementary budget for defence, the military has no excuse not to decisively prosecute the war against insurgency and rid the […]
CBN Confirms N410.25/$ As New Official Exchange Rate
The official exchange rate has been pegged at N410.25/$1 by the Central Bank of Nigeria. This exchange rate applies to the NAFEX Investor & Exporter […]
FG To Effect Electricity Tariff Hike By July 1
According to the Nigeria Electricity Regulatory Commission, NERC, the hike in electricity tariff will take effect from July,1. The government’s latest move which is part […]
CBN injects $1.47bn into forex market in 1 month
The Central Bank of Nigeria injected $1.47bn into the foreign exchange segment of the market as part of its efforts to stabilise the naira in […]
Sugar Council chief: backward integration will create jobs
The Executive Secretary, National Sugar Development Council (NSDC), Mr. Zacch Adedeji, yesterday said the Backward Integration Programme (BIP) designed for the sugar industry can tackle […]
CBN Orders Banks, Forex Dealers To Accept Old, Lower Dollar Notes Or Face Sanctions
The Central Bank of Nigeria (CBN) has ordered banks and authorised foreign exchange (forex) dealers to accept both old series and lower denominations of the […]
UK Court Bans Arise TV Chairman And Founder, Obaigbena From Service
The United Kingdom has placed a ban on the founding Chairman and Editor-in-Chief of THISDAY Media, ARISE News Channel and ARISE Magazine, Nduka Obaigbena. The […]
Foreign reserves rise to $34.85b on ‘Naira for Dollar’ policy
The ‘Naira for Dollar’ policy of the Central Bank of Nigeria (CBN) has led to positive accretion to the foreign reserves exactly one month after […]
SON vital to economic revival, says Tambuwal
Sokoto Governor Aminu Tambuwal has stated the Standard Organisation of Nigeria (SON) could be a major driver for revival of the nation’s economy. He spoke […]
Pervasive broadband drive’ll boost digital financial inclusion – Danbatta
The Executive Vice Chairman, Nigerian Communications Commission (NCC), Prof Umar Garba Danbatta, has disclosed that pervasive broadband penetration would deepen digital financial inclusion for Nigeria’s […]
Foreign Exchange Inflow Rises To $23.60bn
Aggregate foreign exchange inflow into the country in the fourth quarter of 2020 rose to $23.60bn from $21.46bn in the third quarter, figure from the […]
Okonjo-Iweala Expresses Concern Over Nigeria’s Multiple Foreign Exchange Rates
Director-General of the World Trade Organisation, Dr. Ngozi Okonjo-Iweala, on Monday, listed conditions that could make Nigeria benefit from the global body. She gave the […]
Marketers, FG trade blame as fuel queues resurface in Abuja, Lagos
Motorists and commuters in Abuja and Lagos woke up to a rude shock on Sunday morning to find most filling stations shut, with few others […]
CBN defended naira with $10.3b in six months
The Central Bank of Nigeria (CBN) defended the naira in six months with $10.3 billion intervention in the inter-bank foreign exchange market, its half-year report […]
Buhari, govs to discuss fuel pricing Thursday —Ngige
President Muhammadu Buhari and the state governors will discuss the issue of fuel pricing Thursday. The Minister of Labour and Employment, Senator Chris Ngige, disclosed […]
WTO: How Nigeria Can Benefit From Okonjo-Iweala’s Leadership – LCCI
The Lagos Chamber of Commerce and Industry has highlighted steps Nigeria needs to take in order to fully take advantage of the opportunities offered by […]
Naira Loses Against Dollar At I&E Market
The naira has lost against the U.S. dollar. The naira on Wednesday lost against the dollar at the Investors & Exporters window (I&E) of the […]