The naira further depreciated against the US dollar despite the Economic and Financial Crimes Commission’s clampdown on foreign currency speculators in the FX market. FMDQ data...
The Central Bank of Nigeria, CBN has eased its restrictions on repatriating oil and gas export foreign exchange proceeds by International Oil Companies, IOCs operating in...
The Centre for the Promotion of Private Enterprise, CPPE, says the Nigerian federal government will rake in between N3 trillion and N7.75 trillion in one year...
Nigerian government received $1.36 billion and $1.09 billion in corporate taxes and royalties from Shell Nigeria through its operations of the Shell Petroleum Development Company of...
Biafra Republic Government in Exile, BRGIE, has condemned the alleged attack on Igga community in Uzo-Uwani local Government Area of Enugu State by security operatives. Reports...
The Central Bank of Nigeria has ordered banks to stop charges on cash deposits. The apex bank disclosed this in a May 6, 2024, circular signed...
The Centre for the Promotion of Private Enterprise, CPPE, has asked the Nigerian government to suspend its 0.5 per cent cybersecurity levy on all electronic transactions...
The naira depreciated by N63.36 per dollar at the foreign exchange market in the last 24 hours. FMDQ data showed that the day closed at N1416.57...
Bayo Onanuga, the spokesperson to President Bola Ahmed Tinubu, has clarified that the recently introduced cybersecurity levy to all banks and financial services is 0.005 per...
The Central Bank of Nigeria, CBN, has asked all banks in Nigeria to collect and remit a 0.5 per cent cyber security levy to the office...
The naira appreciated significantly against the US dollar at the foreign exchange as trade resumed on Monday. FMDQ data showed that the Naira appreciated N1353.21 per...
The Ibadan Electricity Distribution Company, IBEDC, has begun the implementation of a downward review of tariff from N225/Kwh to N206.80/Kwh for band A customers. This review...
The Nigerian Stock Exchange Limited recorded its first weekly gain after losing N3.54 trillion in April 2024. This is according to last week’s data from NGX....
The value of Nigeria’s Currency in Circulation, CIC, increased to N3.87 trillion at the end of the first quarter of 2024 as money outside the banking...
The Nigerian government plans to impose stricter rules on cryptocurrency platforms to defeat the Naira against the dollar in the foreign exchange market. The development comes...
Petroleum marketers have said the Nigerian National Petroleum Company Limited, NNPCL, has opened its reserves across the federation to end the lingering fuel scarcity. The National...
The Naira ended the week by appreciating marginally against the dollar in the official and parallel foreign exchange markets. FMDQ data at the close of Friday...
The Naira has resumed depreciation against the Dollar in the foreign exchange market. FMDQ data showed that the Naira depreciated to N1402.67 per Dollar on Thursday...
The Nigerian federal government has shifted the application deadline for companies interested in managing the $10 billion Diaspora Fund. Minister of the Federal Ministry of Industry,...
Paul Alaje, Chief Economist and Partner at SPM said that the federal government’s minimum wage review should be at least N100,000. Alaje disclosed this during an...
Peter Obi, the Presidential candidate of Labour Party in the 2023 election, has blamed bad road infrastructure and insecurity under President Bola Ahmed Tinubu’s administration for...
The Centre for the Promotion of Private Enterprise, CPPE, has asked the Nigerian federal government to fix customs duty exchange at N1000 per dollar amid fluctuations...
The Naira lost N112.38 against the US dollar at the foreign exchange market in April 2024. FMDQ data showed that the Naira traded at N1,390.96 per...
President Bola Ahmed Tinubu has told Nigerian workers that an upward review of minimum living wage is imminent. Ajuri Ngelale, Special Adviser to the President on...
The President of the Trade Union Congress, Festus Osifo, has explained that the Nigerian federal Government is currently applying quasi-subsidy on fuel. Osifo, who doubles as...
Deputy governor of Financial System Stability of the Central Bank of Nigeria (CBN), Philip Ikeazor, has said that the rise in non-performing loans in the Nigerian...
The naira recorded its first gain against the US dollar at the official foreign exchange Market this week. FMDQ data showed an appreciation of N1,390.96 per...
Nigeria’s financial technology bank, Opay, said it has closed non-compliant accounts amid the recent Central Bank of Nigeria’s restriction. According to Nairametric, Opay disclosed this in...
The Nigerian Exchange Market Limited investors lost N3.57 trillion in market value in April as the All-Share Index experienced a significant decline amid the Central Bank...
The President of the African Development Bank, Dr Akinwumi Adesina has said the continent needs $277 billion yearly to address Climate Change. Adesina disclosed this in...
The naira depreciated by N79.88 against the dollar at the official foreign exchange market. FMDQ data showed that the naira closed at N1,419.11 per US dollar...
Nigeria’s Debt Management Office, DMO, sold treasury bills valued at N2.669 trillion across its auctions in March 2024.FMDQ disclosed this in its recent Markets Monthly Report...
After days of depreciation, the naira bounced back against the US dollar in the parallel market. A Bureau De Change operator, Mistila Dayyabu, said in an...
The Central Bank of Nigeria has said it is all out to tackle rising inflation in Nigeria. The acting director of the Banking Supervision Department of...
The Nigerian government has said the N50,000 Conditional Grant Scheme to Nigerians is ongoing as 150,000 of one million targeted citizens have received disbursement. The Minister...
The naira recorded a weekly depreciation of N169.24 against the US dollar in the foreign exchange market on Friday. FMDQ data showed that the Nigerian currency...
President Bola Tinubu has approved the appointment of the new heads for the National Environmental Standards and Regulation Enforcement Agency, NESREA and Niger Delta River Basin...
President Bola Tinubu has approved the appointment of Mr. Jim Ovia, a renowned banker and businessman, as the chairman of the board of the Nigerian Education...
ByteDance, the Chinese parent company of TikTok, refuted on Thursday that it is considering selling the popular social media platform, dismissing media speculation in the wake...
The Netherlands plans to invest another $250 million in Nigeria in the coming months. Prime Minister of the Netherlands, Mark Rutte, disclosed this when President Bola...
The Nigerian Exchange Limited, NGX, has returned to positive sentiment as investors gained N26 billion on Thursday. Accordingly, the market capitalization, which opened at N55.494 trillion,...
The Naira has slumped seven times in recent days against the US dollar at the foreign exchange. FMDQ data showed that the Naira recorded a seventh...
Multichoice Nigeria, owners of Nigerian pay television, DStv and GOtv, have announced a price increase for its packages. According to a notice to customers on Wednesday,...
The Association of Bureau De Change Operators of Nigeria, ABCON, has blamed peer-to-peer cryptocurrency platforms like Binance for the recent depreciation of the Naira against the...
Dangote Petroleum Refinery said its N940 per litre diesel price cut is only applicable to customers buying five million litres and above. The Head of Communication,...
The naira has continued its depreciation against the US dollar for the fifth time despite the Central Bank of Nigeria’s sale of foreign currencies to legitimate...
The Nigerian Electricity Regulatory Commission, NERC, has transferred regulatory oversight of the electricity market in Ekiti State to the Ekiti State Electricity Regulatory Bureau, EERB, amid...
The Lead British International, LBI, Abuja, has said it will take disciplinary measures against students seen in a viral video bullying their peer. Abraham Ogunkanmbi, Head...
The rising price of malaria, antibiotics, anti-diabetes, hypertension drugs and other pharmaceutical products have heightened the fears of increased mortality and reduced life expectancy among Nigerians....
Again, the Naira lost N64.5 against the US dollar in the foreign exchange market. FMDQ data indicated that the Naira depreciated to N1,234.49 per US dollar...
Following the Enugu State Electricity Law signed by Governor Peter Mbah and the recent constitution of the Enugu State Electricity Regulatory Commission, ESERC, by the Mbah...
West Power & Gas Limited, WPG, the majority shareholder of Eko Electricity Distribution Company, EKEDC, has terminated the appointment of the former managing director of the...
Former Super Eagles coach, Samson Siasia, has revealed that Mikel Obi is stubborn. Siasia disclosed this during a podcast with ex-international Emmanuel Babayaro and journalist Mathew...
The price of Household Kerosene (HHK) paid by consumers in Nigeria rose to N1,354.40 in March 2024. The National Bureau of Statistics, NBS, disclosed this in...
Nigeria targets up to $30 billion from its inaugural foreign currency-denominated bond issuance planned for June, 2024. Patience Oniha, Director-General of the Debt Management Office, disclosed...
Dangote refinery will start supplying petrol in the fourth quarter of 2024, according to Standard and Poor’s’ Global Commodities, S & P. Kelly Norways, an African...
Nigeria’s leading commercial bank, First Bank of Nigeria Limited has appointed Olusegun Alebiosu as its acting Managing Director with effect from April 2024. First Bank’s acting...
President Bola Tinubu will on Monday, April 22, open the African Counter-Terrorism Summit in Abuja. Ajuri Ngelale, Special Adviser to the President on Media and Publicity...
The Air Transport Service Senior Staff Association of Nigeria, ATSSSAN, has threatened to ground aviation operations in Nigeria over the Federal government’s 50 per cent internal...
President Bola Tinubu has approved the appointment of the Board of the Securities and Exchange Commission, SEC. Presidential spokesperson Ajuri Ngelale, who disclosed this in a...
The Nigerian National Petroleum Company Limited, NNPCL and its joint venture partner in OML 85, First Exploration and Petroleum Development Company Limited, First E&P, have commenced...
Minister of Finance, Wale Edun, has said that the Nigerian Government issued N8 trillion in government security, known as treasury bills, to stabilize and boost the...
The price of Brent crude is now $90.54 per barrel, up from $87 days after the war between Israel and Iran escalated. Oil prices jumped more...
The Nigerian Electricity Regulatory Commission, NERC, says the federal government needs to provide N3.2 trillion in subsidies in 2024 to reverse the recent electricity tariff hike....
The Revenue Mobilization Allocation and Fiscal Commission has said that N7.3 trillion was remitted into the Federation Account in the last six months of 2023, indicating...
The Transmission Company of Nigeria, TCN, has restored electricity supply on Kontagora-Yauri 132 kilovolt Single Circuit line in Niger State weeks after it was vandalized. The...
The naira recorded N81.34 depreciation against the US dollar in a single day at the foreign exchange market. FMDQ data showed that the naira tumbled to...
The governor of the Central Bank of Nigeria, Olayemi Cardoso, says continued liquidity in the foreign exchange market will sustain naira’s appreciation. Cardoso disclosed this on...
The Central Bank of Nigeria, CBN, has reduced deposit money banks’ Loan-to-Deposit Ratio, LDR, to 50 per cent from 65 per cent to boost lending capacity....
Governor of the Central Bank of Nigeria, Olayemi Cardoso, says Nigeria received $600 into the country’s foreign reserves. The development will see the Naira appreciate further...
The Centre for the Promotion of Private Enterprise has explained that the impact of Naira appreciation may not be immediate on cargo imports because of the...
The Nigerian Ports Authority has secured a $700 million loan from Citibank and funded the United Kingdom Export Finance to rehabilitate the Apapa and Tincan Island...
The Nigerian Government has insisted that fuel subsidy has been removed. The Federal Government faulted former Kaduna State governor, Nasir El-Rufai, and the Independent Oil Marketers...
The naira has appreciated by N75.4 against the US dollar in a single day to bounce back in the foreign exchange market. FMDQ data showed that...
President Bola Ahmed Tinubu has commended the Dangote Group over its recent price reduction of Automotive Gas Oil (AGO), also known as diesel. Ajuri Ngelale, Special...
Nigeria’s foreign exchange reserves plummeted to $32.29 billion amid the Central Bank of Nigeria’s efforts at defending the Naira and dwindling crude oil revenue. Data from...
The Naira recorded a marginal depreciation against the Dollar in the foreign exchange market for the first time since March 2024 amid the decline of FX...
Days after the Abuja Electricity Distribution Company, AEDC, was ordered to refund all customers who were wrongly billed amid the recent tariff hike, DAILY POST reports...
The International Monetary Fund has adjusted Nigeria’s economic growth forecast to 3.3 per cent in 2024. The revised forecast for April was disclosed on Tuesday in...
The Nigerian government has agreed to sell crude oil to Dangote and local refineries to boost the Naira. The Chief Executive of the Nigerian Upstream Petroleum...
Minister of Finance, Wale Edun, says Nigerians are saving in Dollars because they have lost faith in Naira. He noted that the recent appreciation of Naira’s...
Nigerian manufacturers said the high cost of diesel is why the prices of goods are high in Nigeria. The Director General of the Manufacturers Association of...
The Transmission Company of Nigeria, TCN, says a fire incident caused the collapse of the national grid on Monday. The General Manager of Public Affairs, Ndidi...
The National Bureau of Statistics is set to unveil inflation figures on Monday, March 15, 2024. DAILY POST reports that NBS releases its monthly consumer prices...
The Inspector General of Police, Kayode Egbetokun, has deployed a new commissioner of police to Plateau State amid the surge in insecurity in the state. This...
Iran has launched aerial drones at Israel, commencing a widely anticipated reprisal attack. Israel’s Channel 12 TV, quoted by the BBC, said the salvo is expected...
The Nigerian government says its encountered problems on the Trans Niger Pipeline and other maintenance activities are the reason for the drop in crude oil production...
The federal government targets over 25,000 jobs and $2.5 billion worth of investment in four years through the Presidential Compressed Natural Gas Initiative. The Programme Director...
A dispatch rider, Monday Osazuwa, dazzled the Special Offences Court in Lagos with revelation on Friday when he narrated how the embattled former Central Bank of...
The Nigerian troops say its operations in the South-South region have led to the recovery of N637 million worth of stolen crude oil and 36 suspects...
Nigerian government says Binance executive, Nadeem Anjarwalla, who escaped custody in Nigeria, has been found in Kenya. A source in the presidency, who preferred anonymity, confirmed...
The Naira appreciated by N60 against the US dollar after the Eid-el-Fitr holidays. A Bureau De Change operator, Mistila Dayyabu, disclosed this to DAILY POST on...
Libya displaced Nigeria, the largest producer of crude oil in Africa, in March. This is according to the Organization of Petroleum Exporting Countries’s monthly March oil...
A popular public analyst and lawyer, Dr Charles Imole, said the Abuja Electricity Distribution Company has failed to supply 20 hours of power to customers under...
The World Bank has told Nigeria and other West African countries to imbibe a more stable macroeconomic environment and accommodative monetary policies as a solution to...
Minister of Power, Adebayo Adelabu, said President Bola Ahmed Tinubu’s administration cannot fix the five decades of power sector challenges in one year. Adelabu disclosed this...
The International Monetary Fund has said electricity subsidies, tax breaks, or holidays are detrimental to productivity and welfare if not effectively implemented. The Washington-based lender disclosed...
The Transmission Company of Nigeria and Ibadan Electricity Distribution Company are currently in a blame game over power supply failure amid recent tariff hike. Recall that...
A financial analyst, Kalu Aja, has given Allen Onyema’s Air Peace solution to edge out foreign airlines amid price war in the Lagos-London fare route. Aja...