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President Tinubu’s wife hosts D’Tigress after AfroBasket triumph
President Tinubu’s wife hosts D’Tigress after AfroBasket triumph

business

Shell, NNPC, and Partners Finalize Investment Decision for 10-Year Gas Supply to Dangote Fertilizer Plant

The Shell Petroleum Development Company of Nigeria Limited (SPDC) and its joint venture partners comprising the Nigerian National Petroleum Company Limited (NNPCL), TotalEnergies EP Nigeria Limited, and Nigerian Agip Oil…

Feb 5, 2024

business

Dangote, Gas plant, NNPC
CBN Clarifies: No Intention to Convert Funds in Domiciliary Accounts to Naira

Nigeria’s central bank has said there was no plan to convert the funds in domiciliary accounts to naira. Media reports had claimed that the bank planned to convert about $30…

Feb 3, 2024

business

CBN, dollar, Naira
CBN Takes Action Against Banks for Withholding $5 Billion Amidst Naira Depreciation

The Central Bank of Nigeria (CBN) hit the nail on the head yesterday. It accused commercial banks of hoarding over $5 billion in foreign currencies against the threshold approved by…

Feb 2, 2024

business

CBN, Fx sanctions, sell fx
Miners Indebted to Federal Government, Owning Over N2 Trillion, Says Minister

The Minister of Solid Minerals Development, Dele Alake, has said that miners and operators in the sector owed the Federal Government more than N2 trillion. This is as the minister…

Feb 1, 2024

business

FG, Miners
Dollar Surge Forces Shutdown of Abuja, Kano, Lagos Bureaux de Change, Leaving Customers Stranded

Bureau de Change Operators, under the Association of Bureau de Change Operators of Nigeria, have shut down operations over the surge in the price of the dollar. Members under the…

Feb 1, 2024

business

Bureau De Change
CBN Directs Banks to Sell Excess Dollars Within 24 Hours

Amid its fresh moves to stabilise the nation’s volatile exchange rate, the Central Bank of Nigeria has ordered Deposit Money Banks to sell their excess dollar stock latest February 1,…

Feb 1, 2024

business

CBN, dollar, Fx
CBN Warns FX Dealers Against Manipulation as Naira Slides to N1,500.

Amid sustained slide of naira, which currently trades around N1,500 in exchange to a dollar, the Central Bank of Nigeria (CBN) has warned authorised dealers to ensure that transactions are…

Jan 31, 2024

business

CBN, Fx
NCAA Issues Warning to Airlines and Travelers: Exercise Caution as Weather Conditions Pose Risks This Week

The Nigeria Civil Aviation Authority, NCAA, has warned pilots and airline operators to exercise caution over a three-day dust haze lasting from Monday to Wednesday across the country. Acting Director…

Jan 30, 2024

business

dust haze, ncaa, NiMet
1,500 CBN Staff Redeployed, Commence Work at Lagos Office

At least 1,500 members of staff of the Central Bank of Nigeria will on Friday resume at its Lagos office following their redeployment from the headquarters. A source at the…

Jan 30, 2024

business

CBN, relocation
Naira Experiences Significant Decline in Official Market, Falls to N1348/$

In apparent reflection of the dollar scarcity plaguing the economy, the Naira yesterday recorded its biggest fall in the official Nigerian Foreign Exchange Market (NAFEM) where it depreciated by 24…

Jan 30, 2024

business

CBN, naira-dollar

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