Nigeria’s debt servicing hits N6.04tn in H1 2024 – CBN
Nigeria’s debt servicing expenses surged to N6.04 trillion in the first half of 2024, a 68.8% increase from N3.58 trillion in the same period of 2023, according to the Central…
PoS transactions reach N6.23tn in July 2024 – Report
Point of Sale transactions in Nigeria totaled N6.23 trillion from January to July 2024, according to data from the Nigeria Inter-Bank Settlement System. This figure represents a 7.4 percent decline…
CBN defends interest rate hike as measure to combat inflation
The Governor of the Central Bank of Nigeria, Mr. Olayemi Cardoso, has strongly defended the bank's decision to raise the Monetary Policy Rate to 27.25%, a move aimed at curbing…
DisCos generates N887bn in revenue amid tariff hike
Nigeria’s electricity distribution companies have generated a total of N887.86 billion in revenue during the first seven months of 2024, driven by a tariff increase for Band A customers and…
Naira-for-crude: Three refineries set to begin petrol production
The Nigerian National Petroleum Company Limited is set to begin supplying crude oil in naira to the Dangote Petroleum Refinery this week, as part of the Federal Government's naira-for-crude initiative.…
Nigeria, Turkey set to boost bilateral relations
The Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture, along with the Nigeria Türkiye Business Council, has committed to enhancing bilateral relations between Nigeria and Turkey. During the…
Oil marketers urge FG for clarity on Naira-for-Crude initiative
Oil marketers and domestic refiners are calling on the Federal Government to provide detailed information regarding the recently announced naira-for-crude initiative, which officially began on October 1, 2024. This initiative,…
Google expands gmail Q&A feature to iPhones
A few months ago, Google launched a new feature for Gmail that leverages its Gemini AI, allowing users to search for specific emails by asking questions. The feature, known as…
Lego website targeted by cryptocurrency scam
Visitors to Lego's website on the evening of October 4 were met with a banner featuring golden coins and a message announcing the launch of a "Lego coin" along with…
X still offline in Brazil as company pays fine to wrong account
Despite complying with the Brazilian Supreme Court's demands, X remains offline in Brazil. According to Reuters, the delay is partly due to the company paying its fines to the wrong…
Naira-for-crude initiative kicked off October 1 — Edun
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has announced that the sale of crude oil and refined petroleum products in naira officially commenced on October…
October 5, 2024
The Central Bank of Nigeria has mandated all Deposit Money Banks and foreign exchange market participants to submit compliance reports regarding the FX Code by December 31, 2024. This initiative…
