•Naira notes Amid current hardship ravaging the country, Nigeria’s local currency is currently exchanging above 2,000 naira against the Great Britain Pound at the parallel market. A Bureau de Change operator at Wuse Zone 4, Malam Ibrahim, confirmed the rates today, reports The PUNCH. He said, Yes it is true, we are currently selling above [&he...
Despite efforts by the Central Bank of Nigeria (CBN) to restore sanity in the foreign exchange market by rolling out three new circulars, the naira suffered a further slide at the weekend. The naira experienced another deÂcline in both the official and parallel forÂeign exchange markets on Friday, reports Daily Independent. At the parallel mar...
Current operating aircraft of Nigerian carriers have dropped to 44 from about 107 a few years ago following the debilitatÂing foreign exchange crisis, investigation has revealed. The current statistics show that 63 aircraft of the scheduled operators are either grounded in the country or are in the various maintenance organisations outside Nig...
•Sunny Onuesoke Peoples Democratic Party (PDP) chieftain and former Delta State governorship candidate, Chief Sunny Onuesoke, has expressed anger over the astronomical hike in cement prices across the country. Consequently, he has appealed to builders to suspend whatever projects they are undertaking temporarily until the price of cement retur...
•Dawanau International Grains Market The management of Dawanau International Grains Market in Kano State has dismissed reports that dealers in the market are hoarding foodstuff to create artificial scarcity. The management also dismissed perceptions that the traders are increasing the prices of food items arbitrarily to cause hardships to the ...
The Independent Petroleum Marketers Association, Enugu Depot has warned it would be forced to shut down selling of fuel in Anambra State within the next two weeks over attacks on members. The Association accused Governor Chukwuma Soludo’s administration of over-taxing its members, clamping on their businesses, and arresting them, reports The P...
The foreign exchange crisis worsened yesterday as the local currency further depreciated, exchanging at N1,600 to a dollar at the parallel market, findings have shown. This was coming a few days after the local currency hit an all-time low at the official market, crossing N1,500 to one dollar, reports Daily Trust. The naira has come […]
Banks are inducing their customers to sell the foreign currencies domiciled in their branches. Some of the banks, it was discovered, have developed platforms to sensitise customers on how the dollar deposits in their domiciliary accounts can be converted to naira, reports The Nation. In a note via SMS to customers, some of the banks […]
•Bags of cement In a bid to stem the rising cost of cement and other building materials and enhance the delivery of affordable housing in Nigeria, the Minister of Housing and Urban Development, Ahmed Dangiwa has called for a meeting with manufacturers of Cement and other building materials in the country. The move is aimed […]
In a move to solve the foreign exchange crisis in the country, the Central Bank of Nigeria (CBN) says Personal and Basic Travel Allowances will only be paid through electronic channels and not by cash. The Director of Trade and Exchange Department at the apex bank, Hassan Mahmud, made this known in a circular dated […]
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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