From 27.33 percent in October 2023, Nigeria’s headline inflation rate rose to 28.20 percent in November 2023. The National Bureau of Statistics disclosed this in its November consumer price index report. The figure... Read more »
Yesterday, Wednesday, December 13, the naira depreciated to N1,260 per dollar in the parallel market from N1,220 per dollar on Tuesday. Similarly, the naira depreciated to N904.65 per dollar in the official Nigerian... Read more »
The Independent Petroleum Marketers Association of Nigeria has said the non-functional state of the Port Harcourt Refinery has pushed many marketers out of business. The body said this during the Port Harcourt... Read more »
The Central Bank of Nigeria (CBN) has again assured members of the public that it was addressing the reported cases of cash scarcity in some major cities across the country. The apex... Read more »
The Central Bank of Nigeria, CBN, has announced a stop to new loan applications under its development finance intervention funds scheme. The suspension signals a dramatic shift in the central bank’s stance... Read more »
The Central Bank of Nigeria, CBN, has suspended charges on cash deposits above the regulatory limits of N500,000 for individuals and N3,000,000 for corporate account holders. The new directive is coming against... Read more »
Billionaire entrepreneur Femi Otedola celebrated the official commencement of production at the Dangote Refinery, emphasizing its significance for Nigeria and the West African region. In a congratulatory message posted on his verified Twitter handle,... Read more »
In a blow to the Nigerian job market, Procter & Gamble (P&G), a global consumer goods powerhouse, is set to exit on-ground operations in Nigeria, impacting at least 5,000 jobs. The decision... Read more »
The Central Bank of Nigeria (CBN) is gearing up to unveil its N123 billion power intervention project in May 2024, pending any unforeseen changes. In August 2022, the CBN greenlit a substantial... Read more »
Economic stakeholders are advocating for the Central Bank of Nigeria, CBN to consider extending the deadline for implementing its recent directives to banks, requiring customers to link their Bank Verification Number (BVN)... Read more »