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Global FDI hits $1.6trn in 2025 as Nigeria’s inflow

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Naira falls N777 against dollar after CBN announcement
News

BDC operators demand new forex window

The Association of Bureaux De Change Operators of Nigeria has called on the Central Bank of Nigeria to establish BDCs’ Autonomous Foreign Exchange Trading window with a determined maximum daily limit. This, according to the association, will enable eligible BDCs to access dollars from banks, autonomous market, and Diaspora forex widow at the prevailing market […]

Emirates Airline bitcoin NFT
Aviation

Emirates Airlines to accept Bitcoin payments on website

Emirates Airlines is set to begin acceptance of Bitcoin payments and enable the trading of nonfungible tokens (NFTs) on its websites. This was made known by the company’s chief operating officer of Emirates, Adel Ahmed Al-Redha during a media gathering held at the Arabian Travel Market, according to reports. Al-Redha reportedly stated that the Dubai-based […]

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X to offer paid users xAI chatbot - Musk
News

Twitter deal on hold, says Elon Musk

Elon Musk said on Friday he was putting a temporary halt on his much-anticipated deal to buy Twitter, sending shares in the social media giant plunging. “Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users,” he wrote on Twitter. Musk, the world’s richest man […]

Agribusiness

Agric imports reach N2.7tn despite N129bn intervention loans

Despite spending no less than N129.084bn on agriculture loans to farmers, Nigeria’s agricultural imports continued to take an upward trajectory, hitting N2.7tn in 2021 alone. According to findings by our correspondent, the Central Bank of Nigeria and the Federal Government, through the Agricultural Credit Guarantee Scheme Fund, has guaranteed a total of N129.084bn in agriculture […]

Telecommunications

Poor database threatens SIM-NIN registration, NIMC admits deficit

Telecommunication consumers are lamenting the decision of the Federal Government to implement the National Identification Number-Subscriber Identity Module policy after the Nigeria Identity Management Commission disclosed that its infrastructure can accommodate only 100 million Nigerians. The consumers under the aegis of the National Association of Telecoms Subscribers were reacting to comments by the Director-General of […]

Agribusiness

Norwegian agency, IITA seek improved cocoa production

The Norwegian Agency for Development Cooperation has called for improved soil fertility to boost cocoa production in Nigeria and other cocoa-producing countries in Africa. A Senior Adviser at NORAD, Daniel van Gilst, on Thursday at the 2022 CocoaSoils Forum held at the International Institute for Tropical Agriculture, Ibadan said there was the need for an […]

Buhari
Agribusiness

Special agro–industrial processing zones suffer setbacks, experts warn FG

Experts and stakeholders in the financial system have said the delay in getting approval from the Federal Executive Council is stalling the implementation of the Special Agro-Industrial Processing Zones programme. According to the expert, the Nigerian economy may suffer from the looming food crisis if there is no major increase in agricultural production, especially in […]

Naira falls N777 against dollar after CBN announcement
News

Naira depreciates against dollar at N420

The naira, on Thursday, depreciated further at the Investors and Exporters Window, exchanging at N420 to the dollar, a 0.30 per cent depreciation, weaker than N418.75 traded on Wednesday. The open indicative rate closed at N416.50 to the dollar on Thursday. An exchange rate of N444.00 to the dollar was the highest rate recorded within […]

Telecommunications

NIN registration hits 80.7 million weeks after SIM ban

The Nigeria Identity Management Commission has issued 80.7 million National Identification Numbers, exactly 19 days after the agency deactivated about 72 million telecommunication subscribers for failing to comply with the Federal Government’s NIN-Subscriber Identity Module policy. The data on NIMC’s portal showed that the number of issued NINs hit 80.7 million on April 23, 2022, […]

News

Lagos to demolish over 10 distressed buildings before Sunday

As part of the ongoing efforts to rid Lagos State of distressed buildings, the Lagos State Building Control Agency says it has marked over 10 structures in the state for demolition. A statement by the Head, Public Affairs, LASBCA, Adetayo Asagba, said the buildings were marked for being structurally distressed and unsafe for habitation. The […]

Why oil theft estimates are unrealistic- Navy
Oil and Gas

Nigeria loses N91bn oil in one month – Analysis

Statistics have shown that Nigeria lost N91bn worth of oil to various technical issues in just one month. Data sourced from the Nigerian National Petroleum Corporation’s latest Monthly Financial and Operations Report (April 2021) showed that the revenue was lost due to the inability to produce approximately 3.5 million barrels of oil in April. Total […]

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