The Governor of the Central Bank of Nigeria (CBN) Mr. Olayemi Cardoso, said yesterday that the apex bank is not defending the Naira with the nation’s foreign reserves. He was speaking against... Read more »

Industry key player and CEO of Rainoil Limited, Gabriel Ogbechie, has claimed that the federal government has resumed the payment of the controversial fuel subsidy following the devaluation of the Naira in... Read more »

Dangote Petroleum Refinery has announced a further reduction of the price of diesel from 1200 to 1,000 naira per litre. While rolling out the products, the refinery supplied at a substantially reduced... Read more »

The local currency exchanged at below N1000 at some segments of the parallel market as of late Sunday. Former presidential aide on digital communications, Bashir Ahmad, took to X to celebrate this,... Read more »

The naira makes as much as 7.16 per cent gain against the dollar at the official market on Friday. The naira on Friday experienced huge appreciation at the official market, trading at... Read more »

The Naira on Thursday rose to an eight-month high of 1,120 per dollar on the parallel market, popularly called black market, driven by a series of foreign exchange (FX) reforms of the... Read more »

Billionaire industrialist Aliko Dangote has said his refinery’s ability to sell diesel at significantly discounted prices will provide immediate relief to Nigeria’s inflation woes.He disclosed this to newsmen on Wednesday after visiting... Read more »

This is surely not the best of times for currency speculators, as their bets on the Naira against the Dollar are getting their fingers burned too fast, and they seem helpless at... Read more »

Oil marketers have called for a downward review in the pump price of the Automotive Gas Oil, popularly called diesel, being produced by the Dangote Petroleum Refinery to between N700 and N850/litre,... Read more »

Naira may be on course to regain N1000/$ (an exchange rate though implausible as early as a month ago) in the near time if the current bullish outlook of the market is... Read more »

The Lagos State Government has mandated supermarkets and grocery stores throughout the state to display price tags on all products, warning that failure to comply may result in the sealing of non-compliant... Read more »

The Nigerian Electricity Regulatory Commission (NERC) on Wednesday approved an increase in electricity tariff for Band A customers.Band A customers are those that enjoy 20-24 hour electricity supply per day . Here’s... Read more »

The naira gained at the official market, trading at N1,278.58 to a dollar on Tuesday. Data from the official trading platform of the FMDQ revealed that the naira gained N30.81 or 2.35... Read more »

Cadbury Nigeria Plc reported a pre-tax loss of N28.2 billion in FY 2023, marking a whopping 2269% decline from the N1.3 billion pre-tax profit posted in 2022. According to the company’s audited... Read more »

Zenith Bank Plc has emerged as the Best Bank in Nigeria in the Global Finance Best Banks Awards 2024 for the fourth time. A statement from the bank on Monday revealed that... Read more »

The naira, on Monday, appreciated to N1,250 per dollar at the parallel section of the foreign exchange (FX) market. The FX rate is a 0.43 percent increase from the N1,280 recorded on... Read more »

The Central Bank of Nigeria (CBN) has increased the capital base for commercial banks with international authorization to N500 billion and national banks to N200 billion. This sweeping financial reform, announced on... Read more »

The board of Eko Electricity Distribution Company has relieved its Managing Director/Chief Eexcutive Officer, Dr. Tinuade Sanda, of her duties as MD/CEO of the company. In a letter seen by Nairametrics and... Read more »

The Central Bank of Nigeria has issued a circular to BDCs informing them that they sold $10,000 t0 each BDC at a rate of N1,251/$1. In a circular seen by Akelicious, each... Read more »