Nigeria repays $1.22bn to IMF in nine Months
By Yahaya Sule, Abuja Data from the Debt Management Office has shown that Nigeria has serviced its debt to the International Monetary Fund with not less than $1.22 billion over nine months. The…
Category: Business
Old Naira Notes remains Legal Tender, says CBN
By Yahaya Sule, Abuja The Central Bank of Nigeria (CBN) has reaffirmed that the old N1000, N500, and N200 banknotes remain valid and legal tender across the country. In a statement issued…
Cash scarcity: Banks shun CBN threat
By John Ile, Abuja Days after the Central Bank of Nigeria ordered Deposit Money Banks to guard against artificial cash scarcity in the country, findings revealed that the trend still persists in some…
Dangote Refinery announces Reduction in Fuel Price
By Khalifa Usman, Kano Dangote Petroleum Refinery has announced further reduction in the price of its Premium Motor Spirit (PMS). Anthony Chiejina, Group Chief Branding and Communications Officer of the Dangote Group, announced this in a…
itel P65 Large Cyber Pop-up Store Make a Surprise Appearance in Nigeria, Showcasing itel Smart Life Futuristic Experience
itel, a global smart life brand, launched its biggest offline experience hub in Nigeria, the itel P65 new launch Pop-up Store in Lagos at Ikeja City Mall, Ikeja, Lagos state on Oct 19th…
Naira among worst-performing currencies in Africa – World Bank
By Ojoniko Uyo, Lokoja The Nigerian naira has been listed as one of the worst-performing currencies in Sub-Saharan Africa in 2024, according to the World Bank’s latest Africa’s Pulse report. As of…
The NNPC – Dangote Refinery Tension: What Lies Beneath?
Lately, there has been growing tension between two major entities in Nigeria's oil sector—NNPC Ltd and Dangote Refinery. Despite their supposed collaboration to ensure energy security for Nigerians, their relationship seems strained, with…
PMS Prices Determined by Free Market Forces-NNPC Ltd
By Yakubu Salisu, Kano The Nigerian National Petroleum Company Limited (NNPC Ltd) has stated that foreign exchange (forex) illiquidity has been a significant factor influencing the fluctuation in prices of Premium Motor Spirit (PMS),…
Customs Commission Tsamiya Dry Port to boost Regional Trade
By Yakubu Salisu, Kano The Nigeria Customs Service (NCS) has commissioned the Kano Trade Office, Tsamiya Dry Port (KEBBI) initiative as part of efforts to boost regional trade networks, economic growth and development between Nigeria…
NERC permits MTN, others to generate Electricity
By Yahaya Sule, Abuja MTN Communications Nigeria Limited alongside Golden Penny Power Limited, Havenhill Synergy, and others have been granted permission for mini-grid electricity generation by the Nigerian Electricity Regulatory Commission (NERC). The…