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Nominee Declines CBN Board Position Due to World Bank Commitments
Urum Kalu Eke, a proposed member for the Central Bank of Nigeria's Board of Directors, has declined the nomination due to his commitments with the World Bank. This development…
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MTN Nigeria Battles Network Outage Due to Fibre Cuts
MTN Nigeria has revealed that a series of fibre optic cable cuts are behind the recent network disturbances that impacted both the voice and data connectivity for its users. The…
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Geometric Power to Energize Aba Early, Setting New Standards in Nigeria’s Power Sector
Aba Power Ltd, an affiliate of Geometric Power, is set to begin electricity distribution from one of its trio of turbines to the Aba Ring-fenced Area consumers ahead of schedule,…
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CBN Governor Summoned Over REMITA Revenue Leakages
On Tuesday, the House of Representatives' Public Accounts Committee issued a directive for the Central Bank of Nigeria's Governor, Olayemi Cardoso, to mandatorily present himself on…
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Presidency and Police Warn NLC Against Planned National Protest
Once more, on Sunday, the Presidential Office issued a caution to the Nigeria Labour Congress, advising against proceeding with its planned two-day national strike to protest the…
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CBN Sets New Forex Regulations for BDC Operations
The Central Bank of Nigeria (CBN) has issued a directive requiring entities that sell foreign exchange to Bureau De Change (BDC) operators, in amounts equal to or exceeding $10,000, to…
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1m litres Crude Recovered during Crackdown on Illegal Oil Refineries in Rivers State
The 6 Division Garrison of the Nigerian Army in Port Harcourt has successfully uncovered an illicit crude oil refinery hidden within the forests of the Odagwe community in the Etche…
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President Tinubu Pledges to Continue Reforms Amid Challenges
President Bola Tinubu affirmed on Thursday his commitment to continuing the reforms currently underway in the nation, despite facing significant backlash. Amidst widespread…
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Gas Exports Halted to Meet Domestic Demand, Nigerian Minister Announces
The State Minister for Petroleum Resources with a focus on Gas, Honorable Ekperikpe Ekpo, has announced that the export of Liquefied Petroleum Gas (also known as cooking gas) will be…
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TTB Chairman, Tunde Lemo Summoned for Questioning Over Union Bank Acquisition
Jim Obazee, the Special Investigator of the Central Bank of Nigeria (CBN), has summoned Titan Trust Bank Chairman Babatunde Lemo to appear before him to interview him about the bank's…
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CBN Halts Processing Fees on Large Cash Deposits
According to a recent statement issued by Dr. Adetona Adedeji, the Acting Director of Supervision, the Central Bank of Nigeria (CBN) has declared that processing fees for big cash…
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Nigeria’s VAT Collection Rises to N948.07 Billion in Q3 2023, Reports NBS
In the third quarter of 2023, Nigeria collected a hefty N948.07 billion in Value Added Tax (VAT), according to the National Bureau of Statistics (NBS). This data is…
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FG’s Deficit Spending Rises by 11% in Seven Months
According to a recent report on the economy, the Federal Government's deficit spending rose by 11% from January to July 2023, equal to N7.88 trillion. This is a big jump from 2022, when…
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BREAKING: Gold Hits Record High Amid Rate Cut Expectations
Gold's steady rise continues, and today was its second straight session of breaking all-time highs. Investors are flocking to the long-term safe haven in preparation of future interest…
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Naira Strengthens To N780/$ In Official Market
In a significant turn of events, the Nigerian Naira exhibited signs of strength on Friday as it closed at N780.14 per dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM).…
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Naira Plunges To New Lows, Trades At N996/$ In Official Market
In a startling development, the Nigerian naira witnessed a significant depreciation of 13.95 percent, closing at N996 per US dollar at the Nigerian Autonomous Foreign Exchange Market…
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Victory For Nigeria As UK Court Overturns $11bn Award In P&ID Case
In a momentous legal triumph for the Federal Government of Nigeria, a London court has ruled in favor of Nigeria, overturning an $11 billion arbitration award previously granted to…
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Naira Falls To New Low, Trades At N1,040/$ In Parallel Market
In a disheartening turn of events, the Nigerian naira has hit an all-time low in the parallel market, casting a dark shadow over the nation's economy. A comprehensive survey…
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Oil Prices Soar As Hamas Attack On Israel Heightens Supply Concerns
In a shocking turn of events, oil prices surged, and the dollar and yen strengthened on Monday following an unexpected attack by Hamas on Israel over the weekend. This sudden…
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FG’s Petroleum Pricing Strategy Under Scrutiny as Subsidy Continues
ABUJA – Festus Osifo, the National President of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), has asserted that the Federal Government continues to…
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