Over two weeks after the Central Bank of Nigeria promised to clear over $10bn foreign exchange debts owed Deposit Money Bank, the apex bank has yet to do so according to findings by The PUNCH.
This came as the naira was sold between 990/$…
Dangote Refinery and other modular refineries operating in Nigeria have shifted their focus away from refining premium motor spirit (PMS) due to the return of subsidies under President Bola Tinubu’s administration.
While Dangote is preparing to start its 650,000-barrel-per-day refinery in the coming…
The Revenue Mobilisation Allocation And Fiscal Commission (RMAFC) says a total of N5,244,037,636,561.60 has accrued into the Federation Account for the period between January and June 2023.
Channels Television reports that the figure was captured in the monthly report to the Federation Account…
Vice-President Kashim Shettima has said the Federal Government had obtained $163 million loan from the African Development Bank (AfDB) to support wheat production in the country.
According to the News Agency of Nigeria (NAN), Shettima stated this at the palace of the Emir…
Nigeria Air will not fly now, the Federal Government said yesterday.
Contracts awarded in respect of the controversial project, which immediate past Aviation Minister Hadi Sirika devoted energy in the last days of the Buhari Administration, will be properly audited.
Minister of Aviation…
The National Commissioner of the Nigeria Data Protection Commission, Dr Vincent Olatunji, has disclosed that the commission has formed a joint committee with the Central Bank of Nigeria to review the regulation mandating financial institutions to obtain social media handles, among other data,…
Oil marketers, on Thursday, insisted on a possible hike in the pump price of Premium Motor Spirit, popularly called petrol, following a further plunge in the value of the naira against the United States dollar.
The local currency weakened against the greenback at…
The Federal Government has disregarded debts owed by operators of leased port terminals and proceeded to renew the agreements, The Guardian has learnt.
Also waived are various terms of contracts, which the operators have flagrantly violated during the lease.
While the concessionnaires have failed to…
Global financial service firm JP Morgan has estimated Nigeria’s net foreign reserve to be around $3.7 billion.
The figure is far below the $33.8 billion as of August 17 on Central Bank of Nigeria (CBN) website.
JP Morgan’s estimate is much lower than the net figure of $14…
Naira inched close to a 15 per cent gain against dollar in the parallel market within a week, trading around N820/$ in Lagos and Abuja yesterday evening.
Reliable sources informed The Guardian that traders at major market clusters were hurriedly dumping dollars yesterday…