Nigeria’s Naira suffered a significant depreciation in its exchange rate against the US dollar in the black market today, trading at an average exchange rate of N755/$1 and representing a 0.80% depreciation when compared to the N749/$1 it exchanged at the close of trading on Thursday. Some BDC operators attributed the unimpressive performance of the […]
The Nigerian Communications Commission (NCC) on Thursday charged traders across the country to be wary of calls and messages they receive and online apps they open in view of the risks associated with acting on such calls, messages and apps from fraudsters. The commission gave this charge during its telecom consumers sensitization programme with the […]
The Federation Account Allocation Committee (FAAC) reported on Thursday that it shared a total sum of N655.932 billion in April 2023 from Federation Account revenue to the three tiers of government even as it stated that Excess Crude Account (ECA) dropped to $473,754.57 as of the date of its meeting in May this year. The […]
The Central Bank of Nigeria (CBN) has unveiled its plans to establish a Virtual Reality Museum in the country to connect Nigerians with the global community on real time viewing of artifacts from across the international geo-cultural regions. The apex bank’s Deputy Governor, Operations Directorate, Mr. Folasodun Sonubi, made this disclosure in his welcome address […]
Investors in Nigeria’s equities market suffered a huge loss on Thursday in a trading session fully dominated by the bears during the buy-in and sell-off struggle, with the local bourse closing negative to break a four-day bullish trend. At the end of the day’s trading session, the All-Share Index (ASI) traded 0.90% lower to close […]
Nigeria’s currency, the Naira, depreciated against the US dollar in its exchange rate at the parallel market on Thursday, settling at an average exchange rate of N749/$1 and representing a 0.13% decrease compared to its previous day’s exchange rate at N748/$1. Some black market FX dealers in the Federal Capital Territory (FCT) attributed the declining […]
The Federal Government has dragged Elixir Asset Management Limited, Elixir Investment Partners Limited along with two of their Directors before the Federal High Court sitting in Ikoyi, Lagos on allegations of fraud to the tune of over N3 billion. In a four count charge brought against the companies and their promoters by the Federal Republic […]
The National Action on Sugar Reduction (NASR), a coalition of non-governmental organisations advocating for policy measures to curb health challenges in consuming sugar-sweetened beverages, has urged the Federal Government to increase tax on sugar beverages from N10 to N30. A representative of the group, Mr. Edozie Chukwuma, was quoted by the News Agency of Nigeria […]
The Federal Government has approved over $1 million contract for to STRYDE Seismic technology and solutions provider to supply 10,000 seismic receiver nodes and its “Nimble” node receiver system to boost onshore oil exploration in the country. According to information on the contract, the STRYDE seismic sensor technology will be utilised in the upcoming 3D […]
The Federal Government has announced the approval of the concession of the Nnamdi Azikiwe International Airport, Abuja and the Mallam Aminu Kano International Airport, Kano. The approval of the two airports’ concession was part of the decisions taken at Federal Executive Council’s (FEC’s) meeting on Wednesday chaired by President Muhammadu Buhari Giving this hint during […]