The Federal Government through the Central Bank of Nigeria, CBN, has raised the exchange rate for cargo clearance from N952 per dollar to N1.356 per dollar. This came weeks after the rate was increased from N783 per dollar to N952 per…
In a bid to stabilize the nation’s volatile exchange rate, the Central Bank of Nigeria (CBN) has issued a directive ordering Deposit Money Banks to divest their surplus dollar stock by the latest date of February 1. The new circular…
The Skyway Aviation Handling Company has announced the appointment of Adenike Aboderin as its Managing Director and Chief Executive Officer, effective from Thursday, February 1. Aboderin, a former Director of Finance and Accounts at the…
The Nigerian National Petroleum Company Limited, NNPCL, has said the mechanical completion of the Warri Refining and Petrochemical Company, WRPC, is scheduled for completion in the first quarter of 2024. The refinery, situated in Warri,…
EU negotiators on Thursday reached a preliminary agreement on a stronger "right to repair" for consumers. The proposal aims to encourage more sustainable consumption within the bloc by reducing waste and boosting the repair sector by…
By Oluwaseyi Kayode 02 February 2024 | 4:27 am A firm, Diamond Waste Recycling Limited, in partnership with Pakam, the Local Economic Development Association and Community Action against Plastic Waste (CAPWS), has empowered women and…
Federal Government has said it is working towards achieving a 77 per cent increase in Internally Generated Revenue (IGR) to boost the economy and fund critical infrastructure across the nation. Minister of Finance and Economy, Wale Edun,…
Federal Government is working with the National Institute of Credit Administration (NICA) to develop a framework for consumer credit in Nigeria. According to the government, NICA will provide advisory, policy drafting, legislative and…
France’s media and telecommunications conglomerate, Vivendi, owners of Canal Plus, has offered to buy all the shares it does not own in South Africa’s MultiChoice Group in a deal worth roughly $1.7 billion. Canal Plus, the top shareholder…
Business activities in Nigeria rose to the highest in 13 months in January, a new purchasing managers’ index (PMI) has revealed. The latest monthly PMI by Stanbic IBTC Bank released yesterday, said the recovery in the private sector…
To examine collaborative opportunities between Nigeria’s financial and real sectors, the Bank of Industry (BoI) and the International Finance Corporation (IFC) are set to host a stakeholder conference to examine the current realities of…
Dun & Bradstreet, a global provider of business data and analytics, has added ESG RegisteredTM to its product catalog in Nigeria to help companies project their environmental, social and governance (ESG) credentials on a global level. The…
The Nigerian-British Chamber of Commerce (NBCC) has called on the government to urgently speed up its ongoing reforms to boost the economy. The chamber, in a long list of critical issues that required government’s urgent attention,…
EDIB International Limited of Hong Kong has expressed willingness to finance the $27.29 billion needed to develop the Escravos Seaport Industrial Complex (ESIC) project in Delta State. The project, located in Escravos (Gbaramatu Island…
TechCabal Insights has unveiled the Q4 edition of its State of Tech in Africa Report, saying only four countries secured funding exceeding the $100 million threshold in 2023. It noted that despite a 79 per cent dip in funding, fintech…
Donald Trump's data protection lawsuit against a British private investigations firm over a dossier which alleged links between Trump's 2016 election campaign and Russia was thrown out by London's High Court on Thursday. Trump, the…
Inflation rates in the Eurozone fell slightly in January, the Eurostat statistics office in Luxembourg announced on Thursday, keeping alive speculation about interest rate cuts coming soon. Consumer prices in January increased 2.8%…
The Central Bank of Nigeria (CBN) has introduced a new circular that eliminates the previous cap on exchange rates quoted by International Money Transfer Operators (IMTOs). This comes as part of the CBN’s efforts to address suspected cases…
Former US President Donald Trump has emerged as the Republican front-runner for November's 2024 US presidential election. On the streets of Ghana's capital, Accra, opinions vary on whether Trump or President Joe Biden should be the winner.…
The 6 Division of the Nigerian Army on Wednesday, January 31, reported the uncovering of an illegal refinery camp and the seizure of 5,000,000 liters of stolen crude oil stored in a reservoir in Rivers State. The General Officer Commanding…
The Minister of Aviation and Aerospace Development, Festus Keyamo, has pledged to establish a new and improved national carrier in a bid to enhance Nigeria’s aviation sector and stimulate economic growth. Former Minister of Aviation, Hadi…
The Minister for Aviation and Aerospace Development, Festus Keyamo has revealed why the Federal Government decided on relocating the headquarters of the Federal Airports Authority of Nigeria, FAAN, from Abuja to Lagos. Keyamo said Nigeria…
The Federal Inland Revenue Service (FIRS) has directed banks to remit electronic money transfer levy (EMTL) on foreign currency transactions to the Federal Government. “Financial institutions are to deduct a levy of N50 on all inflows …
The Naira on the last day of January slightly appreciated against the US dollar in the official foreign exchange market amid the Central Bank of Nigeria, CBN’s, recent intervention to curb its free fall. Data from FMDQ Securities Exchange…
Prices spiked more than six percent in Sri Lanka last month after it hiked taxes in line with IMF conditions to maintain a $2.9 billion bailout loan, official data showed Thursday. The 6.4 percent reading was well up from the 4.0 percent…
UK leads with 51 per cent allocation The African Development Bank (AfDB) has successfully launched and priced its first sustainable dollar-denominated 750 million perpetual subordinated hybrid capital notes. The transaction, sealed on 30…