Net foreign exchange (FX) inflow into the economy fell sharply by 54 per cent, year-on-year, YoY to $7.29 billion in the first half of the year, H1’23, from $15.86 billion…
Category: BUSINESS
‘NNPCL withholds N13.27tr from FAAC’
Nigerian National Petroleum Company Limited (NNPCL) sold crude oil valued at N26.496 trillion but only remitted N13.226 trillion into the federation’s account, a report by the Federation Account Allocation Committee…
EFCC grills Emefiele over alleged $15b foreign debts, new currency
The Economic and Financial Crimes Commission (EFCC) yesterday began a full-scale probe of the former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, with alleged $15 billion foreign…
AFDB’s investments in Nigeria hit $4.4bn – DG
The Director-General, Nigeria’s Country Department, African Development Bank, Mr Lamin Barrow, on Friday, said the bank’s portfolio investments in Nigeria is one of the largest among the Regional Member Countries,…
Senate Constitutes Panel to Probe NNPCL Over N11.35tn Spent on Moribund Refineries in 13 Years
The Senate, yesterday, constituted an ad-hoc committee to investigate the Nigerian National Petroleum Company Limited (NNPCL) over the N11.35 trillion spent on the Turn Around Maintenance (TAM) of the country’s…
Fed Govt unfolds forex, tax, jobs, investment policies
Far-reaching recommendations on the economic direction of the Bola Ahmed Tinubu Administration were submitted to the President yesterday. The Taiwo Oyedele-led Presidential Fiscal Policy and Tax Reform Committee got the…
Shettima Arrives US to Attend AfDB World Food Security Summit
Vice President Kashim Shettima has arrived Iowa, the United States of America to participate in the African Development Bank (AfDB) World Food Prize-facilitated Norman E. Borlaug International Dialogue. As special…
Fuel hits N685/litre in North
Filling stations, particularly those operated by independent marketers, now dispense Premium Motor Spirit, popularly called petrol, at prices that are higher than the bands approved by the Federal Government, with…
Naira free fall was inevitable but all hope not lost — Uviase, Ecovis OUC boss
In a critical assessment of the impact of major policy reforms by the Tinubu administration, Andrew Uviase, Managing Partner of Ecovis OUC (Chartered Accountants), a leading consulting firm specializing in…
September oil revenue rises by N273.8bn on high output
Nigeria’s oil earnings increased by over N273.8bn in September 2023 following the rise in crude oil production by operators in the sector, newsmen findings showed. An analysis of the latest…