Yesterday, it was reported that the Central Bank of Nigeria (CBN) had increased the exchange rate used to calculate tariffs and import duties collected at airports and seaports.This development comes ...
The Nigerian Senate has begun investigating the hike in electricity rates in eleven states.During Monday's meeting at the Senate-wing National Assembly, the Red Chamber threatened to punish any person...
Yesterday, the Central Bank of Nigeria (CBN) increased the exchange rate for paying customs duties at the nation's seaports by 11.1% following the crash in the value of naira against the dollar in the...
Dangote Cement Plc released its first quarter (Q1) report yesterday. The quarter ended March 31, 2024, and was unaudited. The cement company reported that profit before taxes was N166.4 billion, up 13...
On Thursday, the naira experienced a major decline against the US dollar, trading at N1,309/$ at the official market and N1,420 at the parallel market. This depreciation can be attributed to the high ...
Mr Akinwumi Adesina, the president of the African Development Bank, stated yesterday that non-transparent resource-backed loans threaten Africa's economic prospects because they make debt resolution m...
The Nigerian stock market finished the mid-week session yesterday with a bearish run, as its overall capitalization lost N673 billion.The NGX All-Share Index (ASI) lost 1,190.24 points, representing a...
On Tuesday, the Dangote refinery announced that aviation fuel and diesel prices would now sell for N980 and N940 per litre, respectively.This follows the company's announcement last week that it would...
On Monday, data from the FMDQ securities exchange revealed that the naira's value at the official foreign exchange market declined to N1,234 against the US dollar.According to the exchange rate, the n...
First Bank of Nigeria Holdings (FBNH) recently appointed Mr. Olusegun Alebiosu as its acting CEO.The announcement was made public on Sunday evening after the bank confirmed Alebiosu's appointment in a...