Business
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Dangote refinery misses production deadline, PENGASSAN reacts
The 650,000 barrels per day Dangote Refinery is yet to begin production after the August commencement date, earlier announced by the President, Dangote Group, Aliko Dangote. While delivering his speech at the…
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FG delists 37 illegal loan apps
The number of delisted loan apps rose from nine to 37, according to the Federal Competition and Consumer Protection Commission’s new report. The number of fully approved loan apps also grew to…
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BDC operators disregard directive as CBN restricts forex trading
The Central Bank of Nigeria has announced operational mechanism for the Bureau De Change segment of the market to trade foreign currencies at similar rates obtainable on the Investor & Exporter forex…
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BREAKING: Dealers dump Dollar, count losses as Naira gains about 15%
Naira inched close to a 15 per cent gain against dollar in the parallel market within a week, trading around N820/$ in Lagos and Abuja yesterday evening. Reliable sources informed The Guardian…
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Naira Rebounds Against Dollar at Parallel Market
The naira rebounded against the United States dollar at the parallel market on Wednesday, closing at 850/dollar. This came about two days after the Central Bank of Nigeria announced its planned…
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First Bank Appoints Popular Billionaire As Director
Shareholders of FBN Holdings (FBNH) have approved the appointment of Lagos businessman, Mr Femi Otedola as a non executive director of Nigeria’s oldest financial services group. At the just concluded annual…
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(JUST IN) Forex: CBN moves to stop naira free fall
The Central Bank of Nigeria has said it is set to take new measures to stabilise the naira against the dollar. Acting Governor of the CBN, Folasodun Sonubi, made the disclosure to…
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Dangote recruits 30,000 Nigerians, expatriates for refinery
The Management of Dangote Refinery has debunked a report published on the online platforms of some media organisations that the company employed 11,000 skilled workers from India, while allegedly neglecting youths from…
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Update: Naira appreciates on Investor & Exporter forex window against dollar
The naira appreciated against the United States dollar on the Investor & Exporter forex window on Wednesday, closing at 793.70/$. The local currency had earlier traded at N825 a week earlier on…
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Britain to add naira to list of pre-approved currency for trade
Total trade in goods and services (exports plus imports) between the UK and Nigeria rose by 78.2 percent (or £3.3 billion) to £7.5 billion in the four quarters to the end of…
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Marketers link petrol price hike to naira devaluation, others
*Strong dollar decreases economic output in Nigeria, others — IMF The recent increase in the cost of Premium Motor Spirit, commonly known as petrol, has been attributed by marketers to the devaluation…
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CBN lifts restriction on cash deposits into domiciliary accounts
THE Central Bank of Nigeria, CBN has ordered banks to allow customers to have unfettered access to funds in their domiciliary account. According to the CBN, domiciliary account holders are permitted to…
