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Subsidy Removal, Naira Devaluation Hike Ram Price
With a week to this year’s Eidel-Kabir celebration, Muslim faithful across Nigeria are lamenting the high cost of ram and other animals permissible for…
Anxiety as ex-depot petrol price rises to N490 per litre
There was palpable anxiety among members of the public yesterday, following a rise in the ex-depot price of petrol by 4.3% to N490 per litre. As a…
Airfares skyrocket as exchange rate hits N702/$
Airfares on Nigeria routes to various destinations in Europe, North America, Middle East and other foreign cities have skyrocketed as exchange rate for ticket pricing hits N702/$, according to findings by The…
Naira Float: CBN clarifies, says float is “managed float” not completely free float
The Central Bank of Nigeria disclosed that the recent monetary policy decision implemented is not a free float but a managed float. In a recent interview with Bloomberg in Rabat, Morocco, Deputy Governor Kingsley Obiora…
Six Firms Get Approval To Import Petroleum Products In July
The federal government has granted approval to six companies to import petroleum products in the month of July, the Managing Director of the Nigeria Midstream and Downstream Petroleum Regulatory Authority (NMDRA),…
FG Demands 10 Years Tax Liabilities From Ship Owners
…. Gives 3 Months Glance To Reconcile Accounts Special Adviser to the President on Revenue, Zacchaeus Adedeji revealed that…
Naira exchanges N770.38 to dollar, drops 16.19%
The Naira on Monday depreciated against the dollar at the Investors and Exporters window, exchanging N770.38 to the dollar. The local currency showed a 16.19 per cent decrease when compared with N663.04 it exchanged…
ExxonMobil appoints Shane Harris to head Nigerian subsidiaries
ExxonMobil says it has appointed Shane Harris as chairman and managing director of its three affiliates in Nigeria. The energy firm said Harris will oversee Mobil Producing Nigeria Unlimited, Esso Exploration and…
CBN deputy governor counters KPMG Nigeria, says Tinubu’s reforms may double GDP growth next year
Kingsley Obiora, the deputy governor of the Central Bank of Nigeria, says the policies being implemented by President Bola Tinubu will double the country’s economic growth from 3 percent next year. Obiora spoke on…
40% tariff hike: Nigerians may pay N1000 to buy 10units of electricity by July 1
Electricity prices in Nigeria are expected to rise following the unification of the naira which has led to the depreciation of the naira at the investor and exporter window. The Central Bank of Nigeria (CBN)…
Floating naira’ll unleash foreign investments in Nigeria — Airtel boss
Chairman of Bharti Airtel Worldwide Mr Sunil Bharti Mittal, on Monday met with President Bola Tinubu at the Presidential Villa, Abuja. Speaking to State House…
Johann Rupert surpasses Aliko Dangote to become Africa’s richest person
With an astounding net worth of $12 billion, Rupert has surged ahead of Dangote, whose treasure chest holds a slightly…
Airtel Launches 5G Network in Nigeria, Reveals City Lineup
Airtel Nigeria, one of the leading mobile network operators in the country, has officially launched its services powered by…
Nigerian Customs to start charging VAT on diesel imports
The Federal Inland Revenue Service (FIRS) has issued a letter to diesel suppliers in Nigeria, informing them that they are required to pay value-added tax (VAT) on automobile gas oil (AGO) or diesel imported into the…
Asset Finance: FCMB Offers N100m to SMEs
Small and Medium Scale Enterprises (SMEs) can now quickly access from N5 million to N100 million…
Binance Boss Labels Nigerian Subsidiary A Scam
The Chief Executive Officer of Binance, Changpeng Zhao, has declared Nigeris’s subsidiary of the global cryptocurrency exchange platform as a scam. Zhao made this known via his Twitter handle on Sunday, saying,…
Arik Air Founder, Receiver-Manager Fight Dirty Over Funds’ ‘Diversion’
The crisis over receivership of Arik Air got messier at the weekend as the Receiver Manager, Kamilu Omokide denied…
Dangote Sugar turns preferred asset
Dangote Sugar's strong earning is attracting strong bid for its stock, leading to a 36.21 per cent appreciation in the first half of 2023. In 42 months, investors were richer with a 48.85 per cent capital gain between…
CBN lifts restriction on $10k deposit for domiciliary account holders
The Central Bank of Nigeria (CBN) has lifted restrictions of the operation of domiciliary accounts by…
Release petrol we paid for – Marketers tell NNPC
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has accused the Nigerian National Petroleum Company Limited (NNPCL) of withholding petrol its members paid for more than…
Banks ask customers to fund accounts for travel, school fees allowances
Nigerian deposit money banks have asked their customers to fund their accounts adequately for new and pending requests to access foreign exchange (FX) for legitimate needs. Such legitimate needs include Form A…
Airlines to recover trapped funds as naira devalues
The devaluation of the naira is seen reducing airlines’ trapped funds and easing their repatriation from Nigeria, according to industry operators.…
Tinubu told to target $60bn FX reserves, exchange rate of N600/$
For Nigeria to target an exchange rate of between 500 and 600 naira to the dollar the country would equire foreign exchange reserves of…
Meet Olawale Edun, Nigeria’s new Presidential Adviser on Monetary Policies
In the last couple of weeks since the inauguration of President Tinubu, a lot of names have been in the news. From the names of new appointees to suspended public office holders, and even the newly inaugurated…