External reserves drop by $915m over naira float
Nigeria’s external reserves fell by $915 million following the Central Bank of Nigeria’s formal flotation of the naira and liberalization of the…
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Global IPO rates, investments declined in H1 – Exchanges Federation
Data from the World Federation of Exchanges has revealed that less cash equity was traded globally and there were fewer initial public offerings…
Nigeria ranks 11th globally for internet penetration – NCC
Nigeria was ranked eleventh worldwide in terms of Internet penetration and seventh in terms of mobile phone usage, according to data released…
Why E-commerce is vital to $3.4tn AfCFTA market – Stakeholders
E-commerce, according to stakeholders, has the potential to expand the $3.4 trillion African Continental Free Trade Area market. The Punch reported that…
Foreign refiners use credit facilities to attract marketers
International crude oil refiners have begun to provide credit facilities in an effort to help Nigerian oil marketers get past the difficulty…
Raw materials import hits N8trn amid naira slump
Manufacturers have spent at least N7.9 trillion on raw materials imports in the last three years. According to The Punch, manufacturers claim…
FG spent N74bn on new naira, others – CBN report
The Central Bank of Nigeria and its subsidiary spent roughly N74.84 billion in 2022 on the production and distribution of currencies, including…
Tinubu approves presidential CNG initiative
President Bola Tinubu has approved the establishment of the Presidential Compressed Natural Gas Initiative in furtherance of his commitment to easing the…
CBN denies issuing new policy on Forex
By Wilson Adekumola The Central Bank of Nigeria has debunked reports going viral on social media and other platforms over new…
Transcorp-led investors acquire 60% stake in Abuja DisCo
Abuja Electricity Distribution Company has been purchased by a group of investors led by Transcorp Power Limited for $60 million. The Managing Director/Chief…
Naira recovers, trades N850 per dollar at black market
The naira recovered against the US dollar on the parallel market, closing at 850/dollar on Wednesday. A planned intervention in the foreign…
NNPCL secures $3bn emergency oil loan for naira relief
Juliet Buna The NNPC Limited on Wednesday disclosed that it has signed a Commitment Letter and Term Sheet with AfreximBank for an…