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Nigeria's external reserves dip by $4.28bn in 2023 - Report

Nigeria’s foreign reserves drop sharply by $1.3bn in one

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Hacker group Lockbit leaks Boeing data

Boeing hiring 140 workers weekly to boost output

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IMF forecasts Nigeria’s debt ratio drop to 32.3% in

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Suspend new cash withdrawal limit, Reps order CBN

  The House of Representatives has directed the Central Bank of Nigeria, to stop the January 9, 2023, implementation of the new cash withdrawal policy. This is based on a motion of urgent public importance moved by a member of the House, Aliyu Magaji, at the plenary on Thursday. Recall that the apex bank had […]

FG owes N100bn electricity bill debt - Distributors
Opinion

Why FG must localize electricity distribution – Experts

Several energy and real estate experts in the country have called on the Federal Government to localise electricity distribution within the country to improve its supply and grow the power sector.   According to PMNews, this call was made at the closing of the 3rd Lagos Real Estate Market Place Conference and Exhibition in Lagos, […]

News

Naira loses to dollar, exchanges at 445.83

  The naira on Wednesday exchanged at 445.83 to the dollar at the Investors and Exporters window, a depreciation of 0.01 per cent, compared with the 445.80 it exchanged on Tuesday. The open indicative rate closed at N444.25 to the dollar on Wednesday. An exchange rate of N452 to the dollar was the highest rate […]

Osinbajo-led council tackles skill gaps among graduates
featured Investment

Osinbajo visits Vietnam, woos Southeast Asian investors

Vice President Yemi Osinbajo on Wednesday concluded his three-day working visit to the Socialist Republic of Vietnam. Before leaving, however, he met senior officials of the Vietnamese government including President Nguyễn Xuân Phúc; the Vice President, Madam Vo Thi Anh Xuan; the Prime Minister, Pham Minh Chinh and members of the business community. Osinbajo spent […]

Agribusiness

UN, FG pick 13 states for agric intervention

The United Nations through its Food and Agricultural Organisation, in partnership with the Federal Government have selected 13 states in Nigeria for agricultural intervention with respect to the production of a few crops such as rice, sorghum, soybean, etc, and dairy.   The PUNCH reported that the Minister of Agriculture and Rural Development, Mahmood Abubakar, […]

News

30 graduates benefit from FCMB internship placements

First City Monument Bank has provided 30 recent graduates, between the ages of 18 and 30, with the opportunity to acquire work experience through its yearly ‘Flexxtern internship programme’.   The Flexxterns program was initiated to provide unique opportunities for learning outside of academic settings, and expose young Nigerians to new tasks and career opportunities. […]

Aviation

Foreign airline trapped funds hit $550m

The trapped funds belonging to foreign airlines have now increased to $550million, despite the recent intervention of the Central Bank of Nigeria to clear part of the funds.   The International Air Transport Association made this known on Tuesday, affirming that the fund is about half of the $1.1bn blocked funds in Africa and the […]

Oil and Gas

Nigeria may lose $23bn to crude oil theft

The National Security Adviser, Major General Babagana Monguno, has warned the Federal Government of an impending loss of about $23 billion in 2023 if the menace of crude oil theft persists in the country.   Monguno gave this warning on Tuesday, at the inauguration of a special investigation panel set up to check crude oil […]

Agribusiness

China donates over N2.8bn agric centre to Nigeria

The Chinese government on Tuesday have donated over 2.8 billion worth of agricultural demonstration centre to Nigeria.   The Chinese Ambassador to Nigeria, Cui Chun, made this disclosure on the sidelines of noting how China is currently working with Nigeria to tackle insecurity.   According to Chun, the agricultural centre project kicked off on 18 […]

Monarchs begs CBN to extend old naira deadline
News

CBN reduces over-the-counter withdrawal limit

  The Central Bank of Nigeria has announced the reduction of over-the-counter withdrawal limit for both individuals and companies. According to Nairametrics, the apex banking institution has pegged withdrawals by individuals and corporate entities at N100, 000 and N500, 000, respectively, per week. The updated cash withdrawal limits will be in force nationwide starting on […]

Oil and Gas

NNPCL signs MoU with five African national oil firms

The Nigerian National Petroleum Company Limited has signed five memoranda of understanding with the national oil companies and relevant bodies of five African countries on the Nigeria-Morocco Gas Pipeline Project.   According to a statement by NNPC on Monday, the five national oil companies and relevant entities were from Gambia, Ghana, Guinea, Guinea Bissau and […]

Nigeria leads OPEC in March oil production cuts
Oil and Gas

FG targets OPEC oil quota in 2023

    The Minister of State Petroleum Resources Chief Timipre Sylva has assured that Nigeria will work hard to meet its crude oil production quota of the organisation of Petroleum Exporting Countries which is 1.8 million bpd by the end of May 2022. According to The Nation, his Special Adviser Media and Communications, Mr. Horatius […]

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