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Currency in circulation drops to N1.38tn – CBN
The total amount of currency-in-circulation in the country dropped from N3.29tn as of the end of October 2022 to N1.38tn...
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Amidst Macro Economic Challenges, Banks’ Prime Lending Rate Hit 13.67% in January
Amid severe macro economic challenges and increase in Monetary Policy Rate (MPR), commercial banks’ prime lending rate to most credit-worthy...
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Discos reject 408MW excess power – FG
Power distribution companies have stepped up the quantum of electricity load allocation that they receive and distribute to consumers across...
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CBN proposes eNaira for $800m cash transfer scheme
In an effort to drive a cashless economy, the Central Bank of Nigeria has suggested the use of eNaira for...
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Naira exchanges for N766/$ at parallel market
The naira yesterday depreciated further against the dollar at the parallel section of the foreign exchange (forex) market. Bureaux De...
Read moreNCC dedicates toll-free number for presidential poll
The Nigerian Communications Commission has dedicated its consumer tool-free number, 622, to serves as the 2023 Presidential Election Incident Hotline....
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Agusto & Co:Insurance Industry Poised to Survive Weak Macro Economy
Pan-African credit rating agency and business information provider, Agusto & Co. Limited, has predicted that the insurance industry will survive...
Read morePetrol rose by 55% to N257/litre in Jan – NBS
Many Nigerians are still paying far above N185 per litre approved pump price of petrol amid fuel scarcity, a report...
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Nigeria FX Shortage May Threaten Banks’ Liquidity
Foreign exchange shortages faced by local Nigerian companies may threaten bank liquidity, while a devaluation of the naira precipitated by...
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FULL TEXT: Buhari’s nationwide address to Nigerians on new naira
The President, Major General Muhammadu Buhari (retd.) has approved the continuous use of the old N200 as legal tender till...
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Energy Demand in Nigeria, Others to Increase by 35% in 20 Years
The Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPC), Mallam Mele Kyari has projected that...
Read moreEnergy Demand in Nigeria, Others to Increase by 35% in 20 Years
The Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPC), Mallam Mele Kyari has projected that...
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Foreign Investors’ Outflow in Stock Market Down 20.6% to N183.47bn on Inflation, FX Scarcity
Following the scarcity of foreign exchange, double-digit inflation that eroded investment, political uncertainty, among others, foreign investors’ outflow in the...
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New naira: Govs, parties begin legal battle over CBN deadline
The February 10 deadline for the currency swap announced by the Central Bank of Nigeria has pitted Governors Nasir El-Rufai...
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Banking index raises stock market by N1.08tn
Despite investors’ sentiment trading and uncertainty surrounding the 2023 general elections, the anticipation for dividend payout and sectoral performance of...
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Buhari under pressure to end fuel, naira disasters
As the fuel and currency scarcity slowly paralysed socio-economic activities across the country, the President, Major General Muhammadu Buhari (retd.),...
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New naira crisis: Aso Rock forces inciting Nigerians against APC – El-Rufai
Governor of Kaduna State, Nasir el-Rufai, again on Thursday, took a swipe at the people he called elements in the...
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New naira scarcity: Sokoto, Zamfara, Katsina border residents trade in CFA
Residents of border communities in states including Sokoto, Zamfara, Katsina, Adamawa and Kwara have opted for the CFA franc following...
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New naira racketeering: EFCC to raid Lagos, Kaduna, P’Harcourt currency hawkers
Indications have emerged that the Economic and Financial Crimes Commission is set to raid new naira note racketeers in key...
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N650 petrol: PENGASSAN plans clampdown on marketers
The Petroleum and Natural Gas Senior Staff Association of Nigeria, on Monday, raised the alarm that their findings showed that...
Read moreCommuters groan as petrol pump price nears N400/litre
Petrol consumers have continued to groan under the burden of skyrocketing prices, as Premium Motor Spirit almost hit N400 per...
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80% of imports must pass through scanners – Customs
The Nigeria Customs Service has accused terminal operators and clearing agents of undermining the newly installed $120m scanners. The Customs...
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Govt plans PoS agents for $800m cash-transfer scheme
The Minister of Finance, Budget and National Planning, Dr Zainab Ahmed, has said that the Federal Government will deploy Point-of-Sales...
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New naira: Anger spreads over scarcity, Reps oppose CBN extension
The House of Representatives has rejected the February 10 deadline for the phasing out of old currency notes announced by...
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4.2 billion Internet users affected by shutdowns – Report
Over 4 billion people globally with nearly a third of a billion in Africa have been affected by the internet...
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