•Ali Ndume Senator representing Borno South and Senate Chief Whip, Ali Ndume, has commended the position of the federal government, mandating the nation oil giant, the Nigerian National Petroleum Company Limited (NNPCL), to remit its earnings from crude oil sales to the Central Bank of Nigeria (CBN). Speaking with journalists in Abuja, Senator...
•Forex The naira fell to an all-time low of N1348.63/$ on the Nigerian Autonomous Foreign Exchange Market yesterday. This signifies a 51.21 per cent fall from the N891.90/$ the national currency closed last Friday at the official market, according to data from the FMDQ Securities Exchange, reports The PUNCH. Yesterday’s official rate is the wo...
Lagos State Governor Babajide Sanwo-Olu and other key stakeholders witnessed the arrival of the CMA CGM SCANDOLA today, Monday, January 29. This LNG-powered container vessel, boasting 14,812 TEUs, marks a historic moment as the first LNG-powered vessel to navigate to West Africa. It berthed at the Lagos Lekki Deep Sea Port, Nigeria’s most adva...
•CBN Governor Yemi Cardoso In a move aimed at addressing the persistent backlog of verified foreign exchange (forex) transactions, the Central Bank of Nigeria (CBN) has injected another $500 million into the market. This comes barely a week after the bank injected approximately $2 billion to settle outstanding commitments across the manufactur...
•Gov Sanwo-Olu and Prof Kila A Professor of Strategy and Development and Director at the Commonwealth Institute of Advanced and Professional Studies Prof Anthony Kila has urged Lagosians to go to court to get an injunction and to sue the Lagos State Government over the ban on Styrofoam and single-use plastics. The renowned political economist ...
Financial experts say the naira may hit N2000 to a dollar exchange mark in a matter of months considering how the currency continues to depreciate both at the official and parallel markets despite efforts being made by the Central Bank of Nigeria (CBN). The naira was N1,120/$ on December 31, 2023. It went down to […]
•Prof. Mojisola Adeyeye The National Agency for Food and Drug Administration and Control (NAFDAC) has raised the alarm over the disappointing demand for locally produced medical syringes in the country following the discovery of over 1.5 billion unsold units of the product in one local factory alone. The Director General of NAFDAC, Prof. Mojis...
•Akinlade Olutunji The National President of the Nigerian Mining and Geosciences Society, Akinlade Olutunji, has said that no state governor in Nigeria has the legal right to ban mining activities in their states. He said that the mining act is found in the executive list and under the control of the federal government, reports Daily […...
•Prepaid meters The poor electricity situation nationwide has worsened with the decline of power supply to the national grid. Many communities across the length and breadth of the country have since last month been experiencing low energy supply and in some instances, outright blackouts, reports The Nation. Yesterday, the Transmission Company ...
The naira has hit a record low at the parallel section of the foreign exchange market. The local currency closed at N1,415 yesterday compared to N1,365 to the greenback exchanged on Wednesday, January 24, 2024, reports Nigerian Tribune. Currency traders, also known as Bureau de Change (BDC) operators, put the buying rate of the greenback [&hel...
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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