The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC), Mele Kyari, has explained the recent rise in petrol pump prices in Nigeria, attributing it to market forces....

Nigeria’s Consumer Price Index (CPI) witnessed a notable increase, reaching 22.79% in June compared to the 22.41% recorded in May 2023. This information was revealed in the latest CPI report released...

The Nigeria Civil Aviation Authority (NCAA) has taken decisive action by suspending the operations of all Boeing B737 aircraft belonging to domestic carrier Max Air. The immediate suspension comes as a...

The House of Representatives has instructed the Central Bank of Nigeria (CBN) to suspend its directive on including social media handles as part of the “Know Your Customer” (KYC) requirement...

In a significant move towards fostering business growth and removing barriers hindering Nigeria’s economic development, President Bola Tinubu has given his approval for the establishment of a...

Meta, the parent company of Facebook, has launched Threads, a new text-based social media platform. Threads is designed to be a more intimate and personal way to connect with friends and family. The app...

The Central Bank of Nigeria (CBN) has taken a firm stance against financial crimes by releasing its latest Customer Due Diligence Regulations for financial institutions under its regulatory purview. The...

The Central Bank of Nigeria (CBN) has announced a significant update regarding cash deposit restrictions on domiciliary accounts, stating that account holders are now able to withdraw up to $10,000 per...

President Bola Ahmed Tinubu has issued a suspension order against Godwin Emefiele, the Governor of the Central Bank of Nigeria (CBN). The directive was made public through a statement released by the...

Nigeria’s Gross Domestic Product (GDP) expanded by 2.31% year-on-year in real terms during the first quarter of 2023, marking a decrease of 1.21% points compared to the previous quarter’s 3.52%...

In a significant development for the Nigerian financial sector, the Central Bank of Nigeria (CBN) has announced the revocation of operating licences for 132 microfinance banks, four primary mortgage banks,...

Mobile subscriptions for Nigeria’s telecommunications sector experienced a decline for the first time in nearly two years, according to the latest industry statistics released by the Nigerian Communications...

Elon Musk has appointed renowned ad executive Linda Yaccarino to assume day-to-day leadership of Twitter as he strives to rejuvenate the ailing platform he acquired for $44 billion last year. Yaccarino,...

Angola has surpassed Nigeria to become the leading African crude oil producer in the month of April 2023, as reported by the Organisation of Petroleum Exporting Countries (OPEC) in its April 2023 monthly...

In a significant declaration, Vice President Yemi Osinbajo (SAN) expressed confidence that Nigeria has the potential to emerge as one of the world’s premier power markets through increased investments...

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has raised the monetary policy rate (MPR), which measures interest rate, from 17.5 percent to 18 percent. The CBN Governor, Godwin...

The Central Bank of Nigeria (CBN) has announced a 10-day extension of the deadline for the use of old naira notes across Nigeria. The new deadline is February 10 instead of the old one of January 31. Governor...

The Central Bank of Nigeria (CBN) has unveiled the Nigerian national domestic card scheme. “The domestic card scheme is expected to strengthen the national payments system and deepen the usage of electronic...

The World Bank has downgraded Nigeria’s 2023 growth by 0.3 percentage point to 2.9 percent from its previous projection of 3.2 percent. This was contained in the bank’s Global Economic Prospects report...

According to the NNPC, Nigeria’s oil production as of December 6 is 1.59 million barrels per day. This was disclosed by the Chief Upstream Investment Officer at the NNPC Upstream Investment Management...