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Naira plunges, exchanges at 465/$, as CBN laments BDC speculative activities
Despite the commencement of forex sale to Bureau De Change by the Central Bank of Nigeria, the value of the naira has plunged further as it exchanged at 465/$ on the parallel market on Monday, after it exchanged at 460/$ on Thursday.
It…
FG spent N8.9tn on subsidy between 2006 and 2015… PPPRA
The Federal Government spent N8.94 trillion on petrol subsidy during a 10-year period between 2006 and 2015, according to the Petroleum Products Pricing Regulatory Agency (PPPRA).
Data from the PPPRA showed that in 2006, 2007,…
Union seeks reversal of CBN’s foreign exchange policy
The National Union of Chemical Footwear Rubber Leather and Non-Metallic Products Employees (NUCFRLANMPE) has urged the Central Bank of Nigeria (CBN) to rethink its recent policy on Form M, which has to do foreign exchange.
The…
FG threaten to suspend domestic flights over breach of COVID-19 protocols
The federal government has lamented the flagrant breach of COVID-19 protocol put in place to curb the spread of the dreaded virus by some airlines operating domestic flights in the country, and threatened to cancel approval to resume…
Betting operators in Kaduna ask government to reopen betting shops
Sports betting operators in Kaduna State, under the aegis of the Association of Nigerian Bookmakers, have appealed toKaduna State government to reopen betting shops in the state.
Many sports betting shops in the state were recently…
NCC reviews International Termination Rate for voice services
The Nigerian Communications Commission (NCC) has embarked on a cost-based study to set the new pricing regime for mobile international termination rate (ITR) for inbound international voice calls in the country.
The ITR is the…
Nigeria’s crude oil revenue declined by 74.89 per cent in July… NNPC
Nigeria's revenue from crude oil sales declined by 74.89 per cent in July to $55.29m, latest data released by the Nigerian National Petroleum Corporation has revealed.
The July figures marked a record low for Nigeria's crude…
CBN investigates companies over foreign exchange infractions
The Central Bank of Nigeria (CBN) has is investigating foreign exchange transactions of about 55 companies and individuals.
Sources in the CBN linked the companies and individuals to foreign exchange deals outside the official…
Why Petrol Subsidy was removed by Kyari
says N10tn spent in 14 years without results
Even as Nigerians continue to grumble over the hike in the price of the premium motor spirit, (PMS), the Group Managing Director of the Nigerian National Petroleum Corporation, Mele Kyari says…
Nigeria’s foreign reserve rises to $35.81bn despite COVID-19 impact
Despite the adverse effect of the COVID-19 pandemic on the performance of the external sector, Nigeria’s foreign reserves rose by $140.9m from $35.67bn as of September 1 to $35.81bn as of September 17, the latest figures from the…