Naira notes will be out of circulation soon – CBN

By afolabi The Central Bank of Nigeria CBN has said that the country will be faced with dearth of paper currency soon. This as the apex bank intensifies effort in the area of digital currency inclusion. The Delta State Branch Controller of CBN, Mr Godwin Okafor, made this known while Speaking at the popular Ogbogonogo […]

Dollar batters Naira again at Exporters window

By Lydia Ngwakwe The Naira on Monday depreciated at the Investors and Exporters window, exchanging at N419 to the dollar, a 0.48 per cent depreciation, weaker than N417 it traded on Friday. The open indicative rate closed at N419 to the dollar on Monday. An exchange rate of N423.00 to the dollar was the highest […]

Naira faces fresh risk as Fed hikes interest rate by 50bps

By Geoff Iyatse For the first time in 22 years, the Federal Open Market Committee (FOMC), a rate-fixing committee within the Federal Reserve System, has raised the interest rate by 50 basis points, as a continuation of its aggressive effort to rein in inflation. After a marathon meeting that sent jitters across the global market, […]

Over $10bn food production at risk in Nigeria, others –AfDB

Over $10bn food production at risk in Nigeria, others –AfDB Kindly share this story: AfDB President Akinwumi Adesina Sami Tunji 26 April 2022 The African Development Bank Group President, Dr Akinwumi Adesina, says a fertiliser crisis triggered by the Russian war in Ukraine could put more than $10bn worth of food production at risk in […]

Naira depreciates, sells at N419.50 to dollar

The Naira exchanged at N419.50 to the dollar at the Investors and Exporters window on Thursday. This represents a 0.28 percent depreciation, compared to N418.33 to the dollar recorded on Wednesday. The open indicative rate closed at N417.81 to the dollar on Thursday. An exchange rate of N444 to the dollar was the highest rate […]

Naira Closes At 417/Dollar At I & E Window

The exchange rate of the naira at the Investors and Exporters window closed at 417 to 1 dollar on Monday, representing a 0.08 per cent depreciation compared to N416.17 recorded on Friday. The open indicative rate also closed at N416.15 to the dollar on Monday. An exchange rate of N444 to the dollar was the […]

Breaking: Court throws out suit by 36 states against $418m Paris Club debt

From Godwin Tsa, Abuja The Abuja division of the Federal High Court  has dismissed the suit filed by the 36 States challenging the decision by the Federal Government to deduct $418million from the funds standing to the credit of the States to pay debts owed consultants engaged in relation to the Paris Club refunds made […]

NNPC targets highest capitalisation in Africa, to shed toxic liabilities

NNPC targets highest capitalisation in Africa, to shed toxic liabilities By Adewale Sanyaolu The Nigerian National Petroleum Company (NNPC) Limited, has unveiled plans to shed some of its toxic liabilities under a new legislation – the Petroleum Industry Act(PIA). This was even as it said it will be the largest and most capitalised company in the whole […]

Video: Yul Edochie, Odumeje caught dancing on Naira notes

Edochie and Odumeje dancing on Naira notes SEE VIDEO BELOW   Nollywood actor, Yul Edochie has been caught on video dancing with controversial prophet, Chukwuemeka Ohanaemere, popularly known as Odumeje in Onitsha, Anambra State. Odumeje is a wealthy controversial Nigerian clergyman and general overseer of The Mountain of Holy Ghost Intervention and Deliverance Ministry who […]

Foreign borrowings escalate as Nigeria goes for $6.2bn Eurobond offer

By Emma Ujah, Abuja Bureau Chief The Federal Government has announced plans for a Eurobond issuance in the International Capital Market, ICM, to raise between $3 billion and $6.2 billion. The Debt Management Office, DMO, said, yesterday, that virtual meetings with investors have been scheduled for today, September 17 and September 20, 2021. It stated: […]

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