The naira is currently trading above N1,300/$ on the Peer-to-Peer cryptocurrency window today. This is as many traders on the parallel market confirmed that the national currency is trading close to N1,300 in that segment of the market, reports The PUNCH. On the Binance platform, the naira is currently quoted above N1,300/$. Some Bureau de [&h...
•Port Harcourt Refinery As the Port Harcourt oil Refinery comes to life, the Nigerian National Petroleum Company Limited has concluded plans to hand over the government refinery to private operators. The NNPCL said it is seeking to engage reputable and credible operations and maintenance companies to operate and maintain the Port Harcourt Refi...
•Inflation rate Inflation closed 2023 at a 21-year high of 28.92 per cent, the National Bureau of Statistics has disclosed. In December 2023, Nigeria’s headline inflation rate rose to 28.92 per cent from 28.20 per cent in November 2023. This signified a 0.72 percentage point increase when compared to November 2023. According to inflation data ...
•Dangote Refinery The seven major oil marketers in Nigeria have registered with the Dangote Petroleum Refinery for the lifting and distribution of refined petroleum products produced by the $20bn plant. Dealers under the aegis of the Major Oil Marketers Association of Nigeria confirmed yesterday that with the registration, they would commence ...
There’s a mounting pressure on the federal government to make significant releases to clear the foreign airlines’ trapped funds amidst their threat to exit Nigeria. This is despite the release of $61.4m by the Central Bank of Nigeria (CBN) last week as part of efforts to clear outstanding liabilities and bolster the foreign exchange market, [&...
•Southeast governors Reckless abandonment of legacy companies of yesteryears may have worsened the general high unemployment rate and dwindling revenue in the five Southeast states. The five states including Abia, Anambra, Ebonyi, Enugu, and Imo not only have their lots among low revenue earning states nationwide, they also account for some of...
•National Assembly Socio-Economic Rights and Accountability Project (SERAP) has urged the Senate President, Godswill Akpabio, and Speaker of the House of Representatives, Tajudeen Abbas, to reduce the National Assembly budget of N344.85 billion to reflect the current economic realities in the country and cut the cost of governance. SERAP urged...
The inability of the foreign airlines to repatriate their trapped $800 million from ticket sale accruals has cost Nigeria a blistering 40 per cent loss in air travel market share in one year. For two years running, the offshore carriers have been at loggerheads with the federal government over their detained funds and the $60 […]
Analysts are casting doubts on the sincerity of the Central Bank of NiÂgeria (CBN) in the dissolution of the board and management of Union Bank, Keystone Bank, and Polaris Bank. Those who spoke to our correspondents at the weekend queried how the CBN could replace the board and management of these affected banks with just […]
•Lagos State Governor Babajide Sanwo-Olu The Lagos State Internal Revenue Service (LIRS) has issued a reminder to all employers of labour to submit their annual tax returns on or before the stipulated deadline of January 31, 2024. Ayodele Subair, the Executive Chairman of LIRS, conveyed this in an official statement endorsed by Monsurat...
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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