forex
2 days ago
Just last week, Nigeria’s local manufacturing sector was dealt a huge blow as one of the biggest brewers in the country, Nigerian Breweries, announced that it is suspending operations in two of its nine breweries.
23 Mar
The Supreme Council for Shari’ah in Nigeria (SCSN) has expressed concern over the present exchange rate of naira to dollar and the potential threat of the situation to Nigeria’s participation in this year’s Hajj in the Kingdom of Saudi Arabia.
20 Mar
The Central Bank of Nigeria (CBN) has lifted foreign exchange (forex) restrictions on the importation of milk and dairy products in the country. CBN announced the lifting of forex restrictions in a communique to all the commercial banks in Nigeria dated Tuesday, March 12, 2024, with the reference number TED/FEM/PUB/FPC/001/010. “Please be informed that the…
15 Mar
Small businesses and consumer goods firms are facing heavy disruption in their supply chain and operational costs due to inflation, currency risk, removal of fuel subsidies leading to a significant increase in energy costs, and scarcity of foreign exchange (FOREX).
4 Mar
Justice Lewis Allagoa of a Federal High Court in Lagos, on Monday, struck out the charge against 19 Bureau De Change (BDC) Operators, following the withdrawal of the case.
19 Feb
The Poultry Association of Nigeria (PAN), Lagos State Chapter, has blamed increase in the price of egg on the fluctuating foreign exchange rate and greed by some middlemen.
17 Feb
Those who know Mr. Olayemi Cardoso will agree he got his current job as the Governor of Central Bank of Nigeria on a platter of solid professional background and strong personal attributes. His pedigree is rich as his character is unsullied. Cardoso had a remarkable private sector career where he shone brilliantly in banking, stockbroking…
3 Feb
The Center for Fiscal Transparency and Integrity Watch (CFTIW) on Saturday raised the alarm over the free fall of the naira and its adverse effects on Nigerians and the economy. The Central Bank of Nigeria (CBN) has issued regulations to mitigate the forex crisis, the recent being a circular directing the "Harmonisation of Reporting Requirements…
3 Feb
Nigeria's central bank has said there was no plan to convert the funds in domiciliary accounts to naira. Media reports had claimed that the bank planned to convert about $30 billion in the accounts to naira to halt the Nigerian currency's free fall. "This news is fake," CBN said on its X account said on…
30 Jan
The Central Bank of Nigeria (CBN) has announced the complete payment of foreign exchange (FX) owed to all foreign airlines operating in the country.
21 Jan
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Adolphus Onyeama, an agriculture produce buyer resident in Borno State, has had several close shaves with death in the last 14 years. The Enugu State-born businessman has lived in the North for 26 years.
NOW
The Minister of Federal Capital Territory, Nyesom Wike, yesterday had the last laugh at the highly staked National Executive Committee (NEC) of the Peoples Democratic Party (PDP), which retained its acting national chairman...
5 mins ago
Rising inflation and weak earnings have pushed 10 million Nigerians into poverty in 2023, the World Bank in its Macro Poverty Outlook for Nigeria: April 2024 has stated.
10 mins ago
The Lagos Chamber of Commerce and Industry (LCCI) is deeply worried about the various economic headwinds confronting the stability of the Nigerian economy.
19 mins ago
Raymond Nwachukwu, a civil servant who lives in the Ijaiye area of Lagos State and commutes over many kilometers to and from work in Lekki, claims that his biggest problem is getting sleep.
20 mins ago
The Nigerian Premier Football League (NPFL) has provided an opportunity for Heartland of Owerri to fight to save their season by lifting the ban, albeit provisionally, on Dan Anyiam Stadium.
21 mins ago
Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, has said the country would be able to ramp up oil and gas production to feed Dangote and other local refineries by curtailing pipeline vandalisation and oil theft through its new partnership with the Nigerian Armed Forces.
21 mins ago
Ahead of Saturday’s gubernatorial primary of the All Progressives Congress (APC) in Ondo State, a chieftain of the party, Bola Ilori...
23 mins ago
Today is the second Friday of Shawwal 10th after the glorious month of Ramadan. We thank Allaah for making us see the beginning and end of Ramadan. We ask Allaah to grant us all the successes of the month as He accepts all our acts of Ibaadah and sacrifices.
25 mins ago
Spokesperson for the All Progressives Congress (APC) in Kano State, Ahmad Aruwa, has accused the presidency of working against the party’s suspended National Chairman, Dr. Abdullahi Umar Ganduje.