The Central Bank of Nigeria has reviewed its position on the ban on cryptocurrency transactions in Nigeria. The apex bank said yesterday that it had changed its stance on crypto assets in the country and asked banks to disregard its earlier ban on crypto transactions, reports Daily Trust. This is contained in a circular dated […]
•CBN Governor Yemi Cardoso The Trade Union Congress of Nigeria, TUC, today, told President Bola Tinubu to call the Central Bank of Nigeria, CBN, to order over the scarcity of Nigeria in the country. The TUC said that the unfortunate development has continued to subject Nigerians to needless excruciating hardship by insensitive and heartless ag...
•Port Harcourt Refinery John Erinne, an energy consultant and former president of the Nigerian Society of Chemical Engineers, has expressed doubt over the Port Harcourt Refinery’s immediate return to regular operation after Christmas. The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, had yesterday announced the c...
The federal government has been advised by a civil society organisation, under the aegis of Social Integrity Network (SINET) to halt the attempt by the Federal Ministry of Steel Development and other relevant agencies to transfer the ailing Ajaokuta steel company to foreigners, all in the name of revitalisation. It said the move is against [&h...
The Central Bank of Nigeria (CBN) has threatened to sanction banks and Point of Sales (POS) operators found to be complicit in the current Naira scarcity crisis. The apex bank, in a statement yesterday, urged members of the public to report infractions, especially hoarding of Naira by Banks and POS operators, in their areas to […]
•Emefiele The former Central Bank of Nigeria Governor, Godwin Emefiele, illegally lodged billions of naira in no fewer than 593 bank accounts in the United States, United Kingdom, and China without the approval of the apex bank’s board of directors and the CBN Investment Committee. The Special Investigator on the CBN and Related Entities, Jim ...
Dangote Refinery has made a further move towards the commencement of production of refined petroleum products with the receipt of additional one million barrels of bonny light crude supplied by the Nigeria National Petroleum Corporation Limited (NNPCL). The fresh one million barrels of crude from the Shell terminal via the MT Otis owned by Tra...
The National Bureau of Statistics (NBS), says the average retail price of a litre of petrol increased from N202.48 in November 2022 to N648.93 in November 2023. NBS said this in its Petrol Price Watch for November 2023 released in Abuja yesterday. It stated that the November 2023 price of N648.93 represented a 220.49 per […]
•Market Marketers in Kuje Area Council of the Federal Capital Territory have blamed the removal of fuel subsidy as the cause of low patronage and high cost of food products. A visit to the main Kuje market, two marketers interviewed by our correspondent blamed the removal of fuel subsidy as the major cause of low […]
The Nigerian Railway Corporation (NRC) says the agency is yet to recover from previous transportation fare waivers by the government. The federal government had yesterday announced a 50 per cent waiver on road transport and a 100 per cent fare slash for rail transportation as part of moves to cushion the impact of the high […]
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