Unbundling Nigerian Railways Corporation for Rail Sector Reform, by Augustine A. Salifu   The Nigerian Railway Corporation (NRC) was established by the Nigerian Railway Corporation Act, CAP N129, Laws of the Federation of Nigeria ,2004 in 1955 to facilitate the operation...

Currency Outside Banks Surges To N3trn - CBN   Recent data released by the Central Bank of Nigeria (CBN) has revealed a notable spike in currency outside the banks during the month of November 2023, reaching unprecedented levels based on historical...

FG Spends Over N5trn To Cover Electricity Subsidy In 10 Years   The federal government’s effort to subsidise electricity tariff for Nigerians has seen it cough out over N5 trillion in the last 10 years amounting to over 664 per cent...

'CBN Still Short Of Forex To Clear Backlog'   Fitch, one of the leading global credit rating agencies, has said that the Central Bank of Nigeria (CBN) still lacks sufficient foreign exchange (forex) to clear the backlog of demand in the...

Naira Slumps To N1,340/$1 At Parallel Market, FX Shortages Persist   Hopes of local and international businesses getting foreign exchange suffered a set-back as the naira slumped to fresh lows against the US dollar at the official and parallel markets at...

NNPCL To Pay Taxes, Royalties From $3.3bn Afrexim Loan   The Nigerian National Petroleum Company Limited (NNPCL) on Sunday, said it would prepay future royalties and taxes to the Federal Government from the $3.3bn financing deal it got from African Export-Import...