Why fuel subsidies should be removed – IEA
The International Energy Agency has cautioned against fuel subsidies, especially in developing nations like Nigeria where the use of energy resources is significant. According to the IEA's October 2022 World…
Russia suspends participation in Ukraine grain deal
Moscow on Saturday suspended its participation in a landmark agreement that allowed vital grain exports from Ukraine, blaming drone attacks on Russian ships in Crimea. Russia made the announcement after…
New naira: CBN doesn’t need your approval, Moghalu knocks finance minister
A former Deputy Governor of the Central Bank of Nigeria, Kingsley Moghalu, on Saturday told the Minister of Finance, Budget and National Planning, Zainab Ahmed, that the CBN owes her…
New naira: We followed due process, says CBN
The Central Bank of Nigeria has insisted that it followed due process with their plan to re-design the N100, N200, N500, and N1,000 banknotes. AM BUSINESS had on Wednesday…
Terror alert: British Airways cancels London-Abuja flights
British Airways has called off flights scheduled to land in the Nnamdi Azikiwe International Airport, Abuja, from London, in the early hours of Saturday, days after foreign embassies issued terror…
CBN didn’t consult FG on new naira notes – Minister
The Federal Government has stated that is had prior knowledge about the Central Bank of Nigeria plan to redesign the N100, N200, N500 and N1000 naira notes. According to Vanguard,…
Moghalu backs CBN to redesign naira notes
Former Deputy Governor of the Central Bank of Nigeria, Kingsley Moghalu, has expressed support for the decision of the Central Bank of Nigeria to redesign the Naira. The former presidential…
Game store halts operations in Nigeria
Popular South African giant discount retail company, Game, has announced it's exiting Nigeria by December 25, 2022. This was disclosed in a letter signed by the Vice President of Merchandise…
Naira falls N777 against dollar after CBN announcement
The Naira reportedly crashed to N775 against the dollar a few days after the Central Bank of Nigeria revealed its plan to redesign the Naira. AMBusiness on Wednesday reported that…
Nigeria imported wheat, ethanol, others worth $626m from US – Report
Nigeria imported wheat, ethanol and other products worth $626.59 million from the United States of America in 2021. This is based on data from the United States Department of Agriculture.…
Trapped funds: CBN to give foreign airlines $150m
The Central Bank of Nigeria has decided to proceed with plans to release another $150 million in frozen cash to international airlines. Although, CBN Governor, Godwin Emefiele, announced on Monday…
UBA opens to customers Saturday for old naira notes
To ensure a smooth process for clients to return the old Naira notes they may still have in their possession, the United Bank for Africa Plc has modified its banking…
