Airtel Africa Plc has said that the latest policy measure by the Central Bank of Nigeria (CBN) unifying the exchange rates at the parallel and the official markets will help in alleviating the challenges faced by businesses in the last few years to access foreign currencies. The telecom company made this in a Notice signed […]
The Development Bank of Nigeria (DBN) has disclosed that it provided N631 billion as financing support to Primary Financial Institutions (PFIs) in the country over the past five years ended December 2022. The Managing Director of the development finance institution, Dr. Tony Okpanachi, who made this disclosure in Lagos while presenting the progress and achievements […]
For the second consecutive day, Nigeria’s currency, the Naira, depreciated in exchange rate against the US dollar on Tuesday, to trade at an average of N780/$1 in the black market, representing a 2.77% decline when compared to the N759/$1 it traded in the unofficial market on Monday. Some FX dealers in the Federal Capital Territory […]
Nigeria’s national currency, the Naira, depreciated in value against the US dollar at black market on Monday and traded at an average rate of N759/$1, representing a decrease of 0.26% in value compared to the N757/$1 it traded last Friday at the unofficial FX market. Some FX dealers in the Federal Capital Territory (FCT) said […]
Investment experts at Bancorp Securities Limited, one of the nation’s investment research and consulting services companies, have projected that the nation’s equities market will sustain its bullish trend with the financial services sector being the prime mover of the trading trend in the bourse this week. The analysts made this forecast in the firm’s ‘Weekly […]
The Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA) has lauded President Bola Ahmed Tinubu for assenting to the Nigeria Data Protection Bill 2023 as a legislative step towards protecting Nigeria’s critical data. The NACCIMA President, Hon. Dele Kelvin Oye, recalled the NACCIMA’s Digital Economy Trade Group’s contribution towards the bill, especially […]
The Nigerian Customs Service (NCS) has written to diesel suppliers in the country on a new fiscal measure requiring them to pay Value Added Tax (VAT) on automobile gas oil (AGO) or diesel imported into the country. The Service’s Assistant Comptroller-General of Tariff and Trade, MBA Musa, in a letter issued on behalf of the […]
The United States Agency for International Development (USAID) has committed $3 million to the African Water Facility (AWF) to support the preparation of water and sanitation investment projects in the continent through the provision of grants and technical assistance to African countries and regional economic communities. The African Development Bank (AfDB), which gave this hint […]
….limits daily transfers from domiciliary account to USD$10,000 Following the Central Bank of Nigeria (CBN) press statement of June 14, 2023, on new guidelines in the foreign exchange market, an extraordinary Bankers’ Committee meeting was held on Friday, June 16, 2023, to discuss its implementation and implications for the banking public. A statement issued on […]
The Nigerian National Petroleum Company Limited (NNPCL) on Friday signed four Memoranda of Understanding (MoU) with Office National des Hydrocarbures et des Mines (ONHYM) and four national oil companies in a strategic move to achieve the Nigeria-Morocco Gas Pipeline project’s objectives for sub-regional countries’ economic benefits The parties to the deal reaffirmed their commitment on […]