Dollar sales by Deposit Money Banks and other entities at the Nigeria Autonomous Foreign Exchange Market dropped by $252m to $84.1m on Friday. This represents a 74 percent drop from…
Category: BUSINESS
Three states emerge highest in foreign investments in Nigeria – NBS
Lagos, the Federal Capital Territory and Rivers have emerged as states with the highest foreign investments in the fourth quarter of 2023. The National Bureau of Statistics disclosed this in…
Stakeholders want private sector partnership on food security
Tackling the growing problem of food insecurity and malnutrition in the country was at the front burner when stakeholders met during the SUN Business Network Annual Meeting held in Lagos…
Power minister laments as electricity subsidy rises to N3tn
The indebtedness of Nigeria’s power sector to electricity generating companies and gas producers has risen to about N3.3tn, the Federal Government declared on Wednesday. It also revealed that subsidy on…
Dangote refinery to export two fuel cargoes – Report
The Dangote Petroleum Refinery has issued tenders to sell two fuel cargoes for export, the first from the newly commissioned refinery, trading sources with knowledge of the matter told Reuters.…
Naira gains at official market, weakens to N1500/$ parallel market
The naira gained marginally against the United States dollar on Tuesday, appreciating to N1,499/ from an all-time low of N1,534/$ on the official Nigerian Autonomous Foreign Exchange Market. This means…
Audit report: No record of funds recovered between 2016-2019
The Central Bank of Nigeria (CBN) has no records of monies recovered by the Economic and Financial Crimes Commission (EFCC) between 2016 and 2019 as required. This is according to…
Investors lose N1.4trn as high TB rates jolts stock market
Stock market investors lost N1.4 trillion on the Exchange last week following sell off in some shares triggered by increase in interest rates Treasury bills, TBs, by the Central Bank…
NEITI, tax committee to enhance public governance with data
The Nigeria Extractive Industries Transparency Initiative (NEITI) and the Presidential Committee on Fiscal Policy and Tax Reforms (PCFPTR) have agreed to work in partnership and collaborate on deployment of reliable…
Airlines may raise fares as aviation fuel hits N1,300
Airline operators have hinted that they may be forced to review fares upward as the aviation fuel surged to above N1300. This was made known in a statement on Friday…
