•Tinubu and Atiku Former Vice President Atiku Abubakar has blasted the handling of the nation’s economic challenges by President Bola Tinubu, saying that his initiatives are not only uninformed but are arbitrary and chaotic. In a statement he issued yesterday, the presidential candidate of the Peoples Democratic Party (PDP) in the 2023 electio...
•CBN Governor Cardoso The Central Bank of Nigeria (CBN) has debunked reports that it is considering a policy to convert foreign currencies in domiciliary accounts of citizens to naira to stabilise the national currency, which earlier this week recorded its worst performance in history. Management of the CBN debunked this news via its official ...
•Monday Olise Monday Olise from the Onise-Nkwani, Ndokwa West Local Government Area, began his story. He narrated how a minor injury led to the amputation of one of his legs. He said it was a medical negligence by a supposed nurse who, out of ignorance, allegedly ignored his medical records of being a diabetes patient […]
Nigerians are in for more economic hardship induced by inflation as the Central Bank of Nigeria (CBN) has increased the Nigeria Customs Service (NCS) exchange rate for clearance of imported goods to N1,356.883 per 1$. Information obtained by this paper from the Customs official website yesterday morning indicated that the exchange rate was adj...
•Aeroplane The depreciation of the naira against the United States dollar by 55 per cent at the official foreign exchange market has led to a commensurate depreciation in airfares on international routes in Nigeria, according to findings. The naira had fallen from approximately 900/dollar to over 1,400/dollar on Monday after the FMDQ Exchange,...
Bureau De Change operators (BDCs) in Abuja got a rude shock yesterday as security operatives swooped on them in a sting operation designed to arrest the free fall of the naira, believed to be fuelled by the antics of currency speculators. The security agencies, working in cahoots with the Central Bank of Nigeria (CBN), quizzed […]
The International Monetary Fund, IMF, sees a greater risk to the global economy if central banks start cutting interest rates too soon than if they move “slightly” too late, Managing Director Kristalina Georgieva said yesterday. The US Federal Reserve, the European Central Bank (ECB) and others have held interest rates elevated in recent month...
•Forex Bureau De Change operators have announced shut down of operations in Abuja as a result of unavailability of dollars. This was announced by the association’s Chairman, Abdulahi Dauran, yesterday, reports Daily Trust. The naira closed at an all-time low of N1,482 against the United States dollar on the official window on Tuesday while on ...
Amid its fresh moves to stabilise the nation’s volatile exchange rate, the Central Bank of Nigeria has ordered Deposit Money Banks to sell their excess dollar stock latest today, Thursday February 1, 2024. The CBN, which made the disclosure in a new circular released yesterday, also warned lenders against hoarding excess foreign currencies for...
The federal government, yesterday, insisted that there is a need to bring on stream the controversial Oil Prospecting Licence (OPL) 245, adding that the 28 years of legal battle over the lucrative asset must end. The $1.3 billion sale divestment of ExxonMobil asset to Seplat is also 98 per cent completed, and would be finalised […]
The Frontier is Nigeria’s leading online newspaper. It is published by Okims Media Links Limited headed by Sunny Okim, a veteran journalist who is widely known as The Grandmaster, fondly called so by colleagues and friends for being Nigeria’s pioneer movie journalist.
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