Following the discontinuation of sale of foreign exchange (FX) to Bureaux De Change (BDCs) operators in the country by the Central Bank of Nigeria, the naira has dropped to N522 to a dollar at...
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1 Minute
1 Minute
Jeff Bezos’ Amazon Denies Plan to Accept Bitcoin From Clients
Bad news for bitcoin investors as Amazon denied the claim that it is planning to incorporate cryptocurrency as a payment option to its eCommerce business. Bitcoin price had gone up by 14.5% following a...
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1 Minute
Buhari Signs N983bn Supplementary Budget Into Law
The 2021 supplementary appropriation bill of N983 billion has been signed into law on Monday by President Muhammadu Buhari. This was announced by the senior special assistant to the president on national assembly (house...
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1 Minute
Restaurants, Hospitality Businesses Closed Amid Crackdown on Tax Evades in Lagos
Some hospitality businesses have been shutdown in Lagos state as Babajide Sanwo-olu-led administration crackdown on tax defaulters. The clampdown affected sixteen restaurants, hotels and event centres across the state that have failed to pay...
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3 Minutes
DPR: Petrol Price May Increase To N1,000 Per Litre If Subsidy Is Removed
The Department of Petroleum Resources (DPR) has stated that the pump price of petrol in Nigeria may rise to N1,000 per litre when the petrol subsidy regime ends without an alternative energy source. Recall...
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2 Minutes
Ease Hardship Faced By Nigerians, Emir Of Kano Hints President Buhari
The Emir of Kano, Aminu Ado Bayero has asked President Muhammadu Buhari to devise ways to ease the suffering of Nigerians. According to Ado Bayero, the present economic situation in the country is inflicting...
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2 Minutes
List of States to Benefit as FEC Okays N331b For Road Contracts and others to Dangote as Tax Credit
The Federal Executive Council (FEC) yesterday approved 13 memoranda from seven ministries for various contracts worth N331,632,998,787 and $40,070,465. The contracts were approved at the week’s virtual FEC meeting presided over by President Muhammadu...
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2 Minutes
‘Nigeria loses $26.3b yearly to maritime insecurity’
President Muhamamadu Buhari has lamented the huge loss of revenue to maritime criminality. The President stated the loss at a whopping $26.3 billion yearly, a development, he said, had become harmful to the economy...
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1 Minute
Naira slumps further as exchanges hit N504 at parallel market
The naira exchanged to the dollar at N504 at the parallel market on Friday, according to the Bureau de Change operators. It had earlier exchanged to the dollar at 500 in the previous week...
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2 Minutes
Further Borrowing Will Lead To A Disastrous Debt Bubble Bust – Moghalu Cautions FG Over Incessant Loan Requests
Former Central Bank of Nigeria (CBN) Deputy Governor, Kingsley Moghalu has expressed concern at the rate Nigeria’s public debt increased in the last six years under the President Muhammadu Buhari administration. ...
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