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The Nigerian Upstream Regulatory Commission (NUPRC) has issued a new directive that oil producers in the country must sell crude to domestic refineries before attending to foreign demands. According to a report on Bloomberg, under the new regulations, all oil...
The Naira appreciated to N1000 per US dollar as Monday’s foreign exchange market commenced. A Bureau De Change operator, Mistila Dayyabu, disclosed this to the DAILY POST. According to the BDC operator, the Naira is expected to appreciate further below the...
The fourth edition of the West Africa Automotive Show (WAAS) Exhibition and Conference will begin from May 14 to 16, 2024, at the Landmark Centre, Victoria Island, Lagos. More than 250 exhibitors from around the world would be taking part...
The Nigeria Deposit Insurance Corporation (NDIC) has thrown its weight behind the Central Bank of Nigeria (CBN) over its move to recapitalise banks, saying the apex bank’s decision will achieve economic resilience in the country. The Managing Director of NDIC,...
Lagos, the economic heartbeat of Nigeria, pulsates with opportunities for investors seeking vibrant markets and dynamic growth prospects. As Africa’s largest city by population and one of its fastest-growing economies, Lagos offers a compelling and profitable environment for investment...
Nigeria’s oil exports are facing a significant hurdle as a decline in European demand creates a buyer’s market. This development comes at a time the nation is grappling with oil theft and needs a strong export market to bolster its...
Economic experts have continued to praise both fiscal and monetary policies of President Tinubu’s administration responsible for the steady Naira appreciation. ...
The executive board of the International Moneyary Fund (IMF) Friday, confirmed the re-appointment of Kristalina Georgieva to serve for a second five-year term at the helm of the international financial institution. With this development, Georgieva, who was the sole candidate...
Guaranty Trust Holding Company Plc has unveiled plans to raise $750 million through a rights issue. The company disclosed this in a notice of the Annual General Meeting filed by the Group General Counsel/ Company Secretary, Erhi Obebeduo, and sent...
The Latest Update on FGLoanGrant PCGS News For April 2024 has been detailed below.. In today’s Latest FGLoanGrant News For April 2024, we will be discussing some of the important things you should know about the Presidential Conditional Grant Scheme...
The price of Euro to Naira Black Market Today 12 April 2024 can be accessed below.. The new exchange rate for Euro to Naira black market today, April 12, 2024 is ₦1,286.615. The euro, alongside other top currencies, has...
The price of Naira to Pounds Black Market Today 12 April 2024 can be accessed below. Today, April 12, 2024, we delve into the dynamic realm of the Naira to Pounds black market exchange rate, shedding light on its significance...
The statistics office said the February headline inflation rate showed an increase of 1.80 per cent compared to the January headline inflation rate. ...
In a monthly report released on Thursday, the Organization of the Petroleum Exporting Countries (OPEC) has maintained its projection for strong global oil demand in 2024, anticipating a rise of 2.25 million barrels per day (bpd) this year and...
Senator Dave Umahi, Minister of Works has affirmed that no permanent structure nor jobs will be lost in Landmark beach and resort in the construction of the Lagos-Calabar coastal highway. Speaking in an interview with ARISE NEWS on Thursday, Umahi...
The Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPC Ltd.) Mr. Mele Kyari, has reiterated the crucial role of natural gas in fueling economic growth and industrial development in Nigeria. Kyari spoke at the public...
The entry of Nigeria’s major carrier, Air Peace into the lucrative Lagos-London route, has sparked a price war among foreign airlines which have severely reduced their airfares to compete. Air Peace started direct flights from Lagos to London on March...
The Nigerian National Petroleum Company Limited (NNPCL) has underscored the significance of prioritising natural gas production and supply, particularly in the context of geopolitical dynamics and energy security in the global economy. The group chief executive officer (GCEO) of NNPC...
The secretary general of the International Maritime Organisation (IMO), Arsenio Dominguez, has expressed readiness to collaborate with the newly appointed director general of the Nigerian Marítime Administration and Safety Agency (NIMASA), Dr Dayo Mobereola, to tackle marítime challenges in...
The Chairman of Dangote Group, Alhaji Aliko Dangote, has expressed optimism that the sale of diesel at a significantly lower price by his refinery, Dangote Refinery would help in taming inflation in the country. Africa’s richest man stated this in...
Amid an ongoing legal face-off with the Nigerian government, one of the world’s top crypto platforms, Binance Holding Limited has promised to comply with laid down rules and regulations. Binance’s new Chief Executive Officer, Richard Teng, who spoke with journalists...
The United States inflation figure increased to 3.5 per cent in March from 3.2 per cent in February. This is according to consumer prices figures from the US Labor Department. Accordingly, the inflation hike was driven mainly by higher fuel, housing,...
Despite daunting challenges in the banking sector and the economy, six leading banks in the country generated mouth-watering returns for their shareholders in the 2023 financial year.  THISDAY analysis of the six banks’ audited 2023 results showed that cumulatively, they...
Wema Bank found itself on the wrong side of 7 Nigerian laws in 2023, paying penalties totalling N61.350 million in one year. This was revealed in the bank’s full-year 2023 financial statement, which showed that the lender contravened a...
The Nigerian National Petroleum Corporation (NNPC), is facing a payment backlog of approximately $3 billion to fuel traders for imported petrol, according to a Reuters report quoting sources familiar with the matter. The delay in payments comes as a result...
African Import Export Bank (AFREXIM Bank) is set to release the sum of $1.05bn to the federal government of Nigeria in May 2024. This is the balance of the $3.3bn oil for cash facility arranged by Afreximbank, with repayment terms...
The Murtala Muhammed Airport Command (MMA), Lagos, of the Nigeria Customs Service (NCS), on Monday, said it generated N45.23 billion from importers at the Airports in the first quarter of 2024. Speaking to journalists during a press conference of the...
The African Development Bank (AfDB) and Central African Republic (CAR) have strengthened their partnership to tackle fragility and drive sustainable development. The AfDB’s vice president for Regional Development and Business Delivery, Marie Akin-Olugbade, said this in a statement posted on...
The Economic and Financial Crimes Commission, EFCC, has warned schools, supermarkets, hotels and others against charging for services in the country in dollar or any other foreign currency. EFCC Chairman Ola Olukoyede, in the latest edition of the commission’s monthly...
The Central Bank of Nigeria (CBN) has issued a directive prohibiting the use of foreign currency-denominated collaterals for Naira loans, except in specific circumstances. The directive, outlined in a letter addressed to all banks, aims to address the prevailing...
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