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Archive by Category "News"

HomeArchive by Category "News"

By Obinna Chima The level of activities on the Investors and Exporters (I&E) foreign exchange (FX) window strengthened to $1.110 billion in just one week, compared with the $759.2 billion recorded the preceding week. However, the indicative exchange rate for the  I & E window, known as the Nigerian Autonomous Foreign Exchange (NAFEX), which gained on the first two […]

The Central Bank of Nigeria, CBN has warned Nigerians against abusing the naira notes, especially at events. The apex bank said anyone caught abusing the currency will pay a fine of N50, 000 or risk six months in jail if convicted. This was disclosed on Friday by an official of the Currency Operation Department of […]

ABUJA/LONDON, Dec 7 (Reuters) – One of Nigeria’s two main oil unions on Thursday threatened to launch a nationwide strike from Dec. 18 over what it said was a “mass sacking of workers that joined the union”. If the government fails to force the management of domestic oil and gas companies and marginal field operators […]

Femi Asu The President of Dangote Group, Aliko Dangote, has been recognised as one of the people who defined global business in 2017. The Bloomberg 50 is a new, annual, multi-platform initiative that honours 50 icons and innovators who have changed the global business landscape in measurable ways over the past year. The first Bloomberg […]

  • NNPC

Femi Asu and Leke Bayewu The fuel supply situation in the country took a turn for the worse on Tuesday as queues of desperate motorists grew longer at many petrol stations selling Premium Motor Spirit, also known as petrol, in Lagos, Ogun, Kwara and other states of the federation, including the Federal Capital Territory. Our […]

ABUJA, Dec 5 (Reuters) – Nigeria’s state oil company assured motorists on Tuesday there was no shortage of petrol and urged them not to engage in panic buying after long queues built up at filling stations. Lengthy fuel queues were reported by motorists on Tuesday across Nigeria, including in the commercial capital Lagos, in the […]

By Camillus Eboh ABUJA, Dec 5 (Reuters) – Nigeria’s parliament passed the government’s 2018-20 spending framework on Tuesday, raising its oil price assumption to $47 from $45 per barrel. The document, which the government agreed on in August before sending it to lawmakers for approval, is the framework used to prepare the country’s budget. The […]

ZURICH (Reuters) – Switzerland will return to Nigeria around $321 million in assets seized from the family of former military ruler Sani Abacha via a deal signed with the World Bank on Monday, the Swiss government said. Transparency International, a corruption watchdog, has accused Abacha of stealing up to $5 billion of public money during […]

  • dollar to naira

Maureen Ihua-Maduenyi United States carrier, Delta Airlines, says it no longer has challenges repatriating funds from ticket sales from Nigeria. The airline is currently the only US carrier operating nonstop flights between Nigeria and the United States, others having left when it became difficult for foreign airlines to repatriate funds due to scarcity of forex. […]

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Okechukwu Nnodim, Abuja The Federal Government has commenced discussions with the government of the United Kingdom on infrastructural support for aviation security and the return of Arik Air to the London route. It was gathered that the Federal Government was also discussing with the Kano State Government the reasons why international carriers like Emirates, Turkish […]