NAIRA SLUMPS TO N1,600/$ IN PARALLEL MARKET
From N1,590 per dollar last weekend to N1,600 per dollar on Tuesday, the Naira depreciated further in the parallel market. In contrast, the Nigerian Autonomous...
CBN RECORDS HIGHEST REMITTANCE INFLOWS OF $553M FOR JULY 2024
The Central Bank of Nigeria (CBN) has reported a significant increase in remittance inflows, reaching $553 million in July 2024, a 130 percent increase from...
NNPCL REFUTE CLAIMS OF $6.8 BILLION DEBT TO INTERNATIONAL TRADERS
The Nigerian National Petroleum Company Limited (NNPCL) has refuted claims that it owes international traders $6.8 billion. In a statement issued on Sunday, August 18,...
LCCI REACTS TO JULY 2024 INFLATION RATE, CALLS FOR SUSTAINED POLICY INTERVENTIONS
The Lagos Chamber of Commerce and Industry (LCCI) has responded to the latest inflation data released by the National Bureau of Statistics (NBS), which shows...
JUST IN: CBN REINTRODUCES PUBLICATION OF KEY ECONOMIC REPORTS, REITERATES COMMITMENT TO TRANSPARENCY
The Central Bank of Nigeria (CBN) has reintroduced the publication of several key economic reports, reaffirming its commitment to fostering transparency and accountability in the...
UPDATE: FG TAKES DELIVERY OF 60 LOCALLY-ASSEMBLED CNG HYBRID BUSES
The Federal Government has received sixty compressed natural gas (CNG) hybrid buses that were constructed locally. Under the Presidential CNG Initiative, Jet Motor Company supplied...
OYO STATE DIDN’T TAKE PART IN N570BN HARDSHIP GRANT – MAKINDE COUNTERS FG
Seyi Makinde, the governor of Oyo State, has denied accepting any share of the N570 billion hardship grant that the federal government is alleged to...
(UPDATE) INFLATION: COST OF LIVING JUMPS BY 19% IN ONE MONTH
In June 2024, the national average cost of a healthy diet rose to N1,241. The Nigerian Bureau of Statistics (NBS) made this revelation in its...
NET FX FLOWS HIT $25.4 BILLION IN SIX MONTHS – CBN
The Central Bank of Nigeria, as part of its continuous commitment to supporting the effective functioning of the foreign exchange market by increasing liquidity as...
FG PARTNERS WITH ICAC, MOVES TO REVIVE COTTON/TEXTILE INDUSTRY
The Federal Government has collaborated with the International Cotton Advisory Committee (ICAC) to revive the moribund cotton/textile industry. Disclosing this in a statement on Tuesday,...