•CBN Governor Yemi Cardoso Cash withdrawals will not be possible from accounts opened for virtual and digital assets transactions, the Central of Nigeria has disclosed. Withdrawals from these accounts will only be possible by transfer or through a manager’s cheque, the apex bank explained. It revealed this in a new ‘Guidelines on Operations of...
The Nigerian National Petroleum Company Limited and fuel marketers under the aegis of the Independent Petroleum Marketers Association of Nigeria, yesterday, clashed again over the removal of subsidy on petrol. This came against the backdrop of the depreciation of the naira against the United States dollar at both the official Investors & E...
Nigeria’s total capital importation fell by 36.45 per cent and down to $654.65 million in the third quarter of 2023 from $1,030.21 million in second quarter of same year. National Bureau of Statistics (NBS) disclosed this in its recent data on the country’s capital importation in third quarter. Still, NBS revealed that on a year-to-year [&hell...
Preparations are in top gear for the commencement of production in Dangote Refinery, as the petrochemical company has received the fourth crude shipment of one million barrels of bonny light crude supplied by the Nigeria National Petroleum Corporation Limited, NNPCL. And the refinery is expecting the fifth crude shipment anytime now. According...
The leadership of the Labour Party has labelled the reported ‘mechanical completion’ and the ‘flare start-off’ of the country’s biggest crude refinery in Port Harcourt, Rivers State capital, as a sham. This was even as the ruling All Progressives Congress cautioned the Labour Party against misleading the public, stressing that it is not every ...
•CBN Governor Yemi Cardoso If there was a troublous period that characterised 2023, and which most Nigerians will never forget in a hurry, it is unarguably that of the period when Naira scarcity prevailed wherein not a few bankable and non-bankable Nigerians experienced difficulties in carrying monetary transactions by each passing day so much...
•Senate President Godswill Akpabio Major stakeholders in the polity, including the Nigeria Labour Congress, NLC, Nigeria Employers Consultative Association, NECA, and Labour Party, LP, among others, were up in arms yesterday with the National Assembly for jerking up the 2024 budget by N1.2trillion. Recall that President Bola Tinubu had sent a ...
•National Assembly complex, Abuja The National Assembly, NASS, yesterday, passed the N28,777,404,073,861 2024 Appropriation Bill as the aggregate expenditure for the 2024 fiscal year. The fiscal plan increased by N1.2 trillion from the initial N27.5 trillion to N28,777 trillion. There was also an increase in the exchange rate from N750 to N800...
There are strong indications that the electricity distribution companies (DisCos) in the country will hike their tariffs with effect from tomorrow Monday January 1. An official source from one of the electricity distribution companies who confirmed the development under the condition of anonymity said a virtual emergency meeting was held in th...
•Nigerian Senate The Senate yesterday Saturday, December 30, approved President Bola Tinubu’s request to borrow $7.8billion and €100 million as part of the 2022- 2024 borrowing plan of the federal government. The resolutions of the Senate followed its consideration and adoption the report of its committee on Local and Foreign Debt during its s...
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