•Dollar and Naira The Naira yesterday depreciated to N1,640 per dollar in the parallel market from N1,620 per dollar on Wednesday. Similarly, the Naira depreciated to N1,639.41 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM. Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,639.41 per dollar fro...
•Dollar and Naira The Naira yesterday depreciated to N1,620 per dollar in the parallel market from N1,615 per dollar on Tuesday. Similarly, the Naira yesterday depreciated to N1,606.56 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM. Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,606.59 per do...
•Dollar and Naira The Naira yesterday depreciated to N1, 600 per dollar in the parallel market from N1,590 per dollar last weekend. However, the Naira appreciated to N1,579.22 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM. Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,579.22 per dollar from...
•Minister of Finance and Coordinating Minister for the Economy, Olawale Edun The federal government has disclosed that sales of crude oil to Dangote Refinery and other local refineries will commence October 1, 2024. The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, made the announcement during a meeting with the Impl...
•Finance minister, Wale Edun, meets with key stakeholders in the oil and gas industry in Abuja The Minister of Finance, Wale Edun, has met with key stakeholders in the oil and gas industry, following President Bola Tinubu’s directive for the Nigerian National Petroleum Corporation Limited (NNPCL), to sell crude oil to local refineries in naira...
•Naira notes The Multidisciplinary Finance Professionals (MFP) Group has asked the government to stop the dollarisation of international transactions and floating of the Nigerian currency as part of strategies to address the devaluation of the currency. These were contained in the communiqué of the group at the end of the sixth edition of its ...
•Hoodlums loot the NCC Industrial Park in Kano State The Minister of Communications, Innovation and Digital Economy, Dr. ‘Bosun Tijani, has lamented the destruction of a technology hub in Kano, just days before its scheduled launch. The Digital Innovation Park, designed to support Nigeria’s technical talent accelerator program (3MTT), was repo...
MTN Nigeria Communications Plc reported a loss after tax of N519.1 billion for the first half of 2024, due to record-high inflation and a weaker naira. This disclosure was made in its financial results for the period ending June 2024, according to an e-copy of the report obtained by our correspondent today, reports The PUNCH. […]
•Tinubu and Dangote President Bola Tinubu has directed the Nigerian National Petroleum Company Limited to sell crude to Dangote Refinery and other upcoming refineries in Naira. The Special Adviser to the President on Information and Publicity, Bayo Onanuga, made this known in a post via his official X handle today. Onanuga stated that the move...
•Naira notes The Federal High Court sitting in Lagos yesterday dismissed a suit challenging the use of Arabic inscriptions on Naira notes. Justices Yellin Bogoro held that Section 53 (1) of the Banks and Other Financial Institutions Act (BOFIA) empowers the Central Bank of Nigeria (CBN) to print, design and issue the currency and compels [&hel...
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