Naira set to gain as CBN resumes forex sales

The resumption of forex sales to the Bureau De Change operators by the Central Bank of Nigeria on Monday (today) will strengthen the exchange...

CBN freezes accounts of ‘Baba Ijebu’, 37 other companies over ‘forex infractions’

The Central Bank of Nigeria (CBN) has instructed banks to place a post-no-debit on the bank accounts of 38 companies. The affected accounts belong to...

Naira to trade at 386/$ as CBN resumes FX sale to BDCs

The Central Bank of Nigeria (CBN) says it will resume weekly forex sales to Bureau de Change operators from August 31. In a circular signed...

Apple now worth $2trn, higher than GDP of 48 African countries

Apple has become the first American company to be valued at $2 trillion. The company crossed the $2 trillion dollar mark on Wednesday after being...

World Bank delays approval for Nigeria’s $1.5bn loan over naira reforms

The World Bank is delaying approval of Nigeria’s request for a $1.5 billion loan due to concerns over desired reforms. The newspaper quotes unidentified sources...

Domestic equities market closes on positive note, up by 0.45%

The Nigerian Stock Exchange (NSE) ended the week’s trading session on a positive note, as the all-share index (ASI) rose by 0.45 percent to...

Nigerians spent N2.37tn on petrol in 13 months – NNPC

In 13 months, Nigerians spent N2.37tn on petrol imported into the country by the Nigerian National Petroleum Corporation, data released by the corporation have...

20km domestic gas pipeline project: We are proud to have invested in Aba –...

The Managing Director of Shell Nigeria Gas (SNG) Company, Ed Ubong, on Monday, stated that the company is proud of the domestic gas infrastructure...

Naira plunges to N472/$ as forex scarcity worsens

The naira on Tuesday traded at N472 to a dollar at the parallel market as foreign exchange scarcity persisted. The exchange rate was N440/$ in...

From August 1, loan defaults will be settled using funds in other banks

Effective August 1, banks will be able to debit the accounts of loan holders in other banks to settle defaults. This is according to global...

Unilever, Dangote Cement lead losers as market sheds N104bn

Transactions on the Nigerian equity market on Wednesday commenced the month of April on a downtrend as Unilever Nigeria Plc and Dangote Cement Plc...

Nigeria consumed N2.64tn petrol in 13 months, says NNPC

The Nigerian National Petroleum Corporation said on Sunday that it sold a total of 21.51 billion litres of petrol worth N2.64tn from December 2018...

Coronavirus: CBN announces N1.1tn intervention fund

The Central Bank of Nigeria on Wednesday announced a N1.1tn intervention fund to support critical sectors of the economy. The CBN Governor, Mr Godwin Emefiele...

Coronavirus: CBN reduces interest rate on N3tn intervention fund to 5%

The Central Bank of Nigeria on Monday announced policy measures to tackle the impact of Coronavirus on the economy. The CBN Governor, Mr Godwin Emefiele,...

Dangote to produce 20,000 bpd oil from July – Official

Africa’s richest man, Aliko Dangote, will begin production of oil from two assets he snapped up from Royal Dutch Shell Plc in July, adding...

Petrol imports gulped N1.71tn in 2019, says NBS

Data obtained from the National Bureau of Statistics have shown that the amount spent on petrol imported into the country dropped by 42 per...
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