The naira continued its rebound against the dollar today, strengthening to N950/$ on the average in the parallel market. This represents a N170 gain or a 15.18 per cent appreciation of the local currency compared to the N1,120 it traded for yesterday, reports The PUNCH. This is also the second day of recovery for the […]
Manufacturers have expressed concerns as the price of diesel has risen to N1,275 per litre in Lagos and above N1,300 outside the state. The product is selling for N1, 270 per litre in Kano State and above that outside the metropolis, reports Daily Trust. This implies a 26 percent increase in the price of the […]
The Central Bank of Nigeria, CBN, yesterday, assured Nigerians of sufficient stock of currency notes for economic activities in the country. It was earlier reported that as the December 31 deadline for the use of the old N200, N500 and N1000 banknotes approaches, scarcity of cash has hit Kano and Borno states as well as […]
•Lagos-Ibadan cargo train Investigations by our correspondent yesterday have revealed that the Lagos-Ibadan cargo train, since it’s arrival on Sunday, October 29, 2023 at the Apapa Port from Moniya in Ibadan, has not left back to Ibadan with cargoes due to lack of enough cargoes to lift from the nation’s busiest port, reports Nigerian Tribune....
•Tinubu and Shettima Many African governments are currently caught in the crisis of refining domestic debts at cut-throat costs even as they overstretch the funding capacity of their central banks to bridge the gaping hole in their finances, a situation that has left many in dire straits, a report by S&P warned yesterday. The crisis [&hell...
Zenith Bank Plc has announced its unaudited results for the third quarter ended 30 September 2023, recording a remarkable triple-digit growth of 114% from N620.6 billion reported in Q3 2022 to N1.33 trillion in Q3 2023. This performance demonstrates the Group’s resilience and strong market share despite a very challenging macroeconomic environ...
Nigeria’s debt to China increased from $3.93bn as of June 30, 2022, to $4.73bn as of June 30, 2023, showing an increase of $800m in one year. It is an increase of 20.36 per cent from the second quarter of 2022 to Q2 2023, according to an analysis of the external debt stock data from […]
Tagging their move as another avenue to cash out from the nation’s resources after possibly wasting time on the exercise, civil society organisations, oil and gas experts as well as legal practitioners yesterday, said the move by the Senate to recover the alleged over N11.3 trillion spent on the nation’s moribund refineries as Turn Around [&he...
That the Nigerian economy is still in dire straits is no longer news, but the real worry for stakeholders appears to be the helplessness of both the fiscal and monetary authorities to stem the tide of naira’s free fall that has sent prices of basic items like food, energy and transportation skyrocketing to unprecedented heights […]
All over social media, in the markets, commuter buses, among workers, and ordinary Nigerians and in conversations among kith and kin, there is lamentation. And it is all centred on the terrible financial situation of the nation. Even the intellectuals and other elite are not immune from the effects of the devastating worsening impact of [&hell...
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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