The Central Bank of Nigeria (CBN) has raised the Monetary Policy Rate (MPR) by 150 basis points, bringing it to 26.25% from the previous 24.75%. The CBN Governor, Mr. Olayemi Cardoso, announced during...
Mele Kyari, the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), announced a significant rise in Nigeria’s oil production, reaching approximately 1.7 million...
To enhance transparency and clarify the banking landscape in Nigeria, the Central Bank of Nigeria (CBN) has unveiled a comprehensive list of licensed Deposit Money Banks operating within the country.
The...
The Nigerian National Petroleum Company (NNPC) Limited has issued a statement cautioning against panic buying of Premium Motor Spirit (PMS), commonly known as petrol.
Following nationwide monitoring of...
The Central Bank of Nigeria (CBN) has set a July 7, 2024 deadline for Point of Sale (PoS) operators to complete registration with the Corporate Affairs Commission (CAC), it was revealed at a meeting in...
The Central Bank of Nigeria (CBN) has issued a directive instructing deposit money banks in the country to impose a 0.5% cybersecurity levy on transactions. The decision, conveyed through a circular dated...
ByteDance, the Chinese parent company of TikTok, has adamantly declared that it has no intentions of selling the popular video-sharing app despite recent US legislation threatening a ban if it refuses...
Dangote Petroleum Refinery has once again lowered the prices of diesel and aviation fuel to ₦940 and ₦980 per litre, respectively. This latest reduction follows the refinery’s previous price...
The Nigerian National Petroleum Company Limited (NNPC Ltd) and its Joint Venture partner, First Exploration and Petroleum Development Company Limited (First E&P), have commenced oil production from...
The Nigerian National Petroleum Company Limited (NNPC Ltd) and its Joint Venture partners in OML 18 have generously contributed a 2,300-seater ultra-modern digital library to the Niger Delta University...
In a move aimed at enhancing convenience and accessibility for travelers, Air Peace has unveiled an expansion of route options for its recently inaugurated Lagos-London service.
Passengers departing from...
The Federal Government disbursed approximately ₦205 billion as electricity subsidy in the third quarter of last year, as revealed by data from the Nigerian Electricity Regulatory Commission (NERC) in...
The Federal Ministry of Industry, Trade, and Investment has announced the commencement of the disbursement process for the Presidential Conditional Grant Programme, according to a statement released on...
Dangote Petroleum Refinery has announced a substantial reduction in the price of Automotive Gas Oil, commonly known as diesel, from N1,200/litre to N1,000/litre.
The announcement, made via a statement...
The National Bureau of Statistics (NBS) has released data revealing that Nigeria’s headline inflation rate surged to 33.20% in March 2024, marking a steep increase from the 31.70% recorded in February...
In a bid to address the country’s soaring inflationary rate, the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has announced a significant hike in the benchmark interest rate....
The Nigeria Customs Service (NCS) has announced the cancellation of the 25% penalty on improperly imported vehicles, following directives from the Minister of Finance and Coordinating Minister of the Economy,...
The Nigerian naira continued its upward trajectory against the United States dollar on Thursday, marking a gain of N18 to close at 1,382/$ at the official market, as reported by the Presidency. This surge...
Nigeria’s Debt Management Office (DMO) has unveiled a staggering figure, revealing that the country’s public debt ballooned to N97.34 trillion ($108 billion) by the fourth quarter of 2023.
In...
The Central Bank of Nigeria (CBN) has announced the complete clearance of the valid foreign exchange backlog, marking a significant milestone in the nation’s economic recovery efforts. Mrs. Hakama...
