OPEC Raises Nigeria’s Oil Output As Saudi Arabia Cuts Production   Members and non-members of the Organisation of Petroleum Exporting Countries, referred to as OPEC+, on Sunday, agreed to cut crude oil production volumes in order to ensure global oil market...

Senate Grills AGF Over N910bn MDAs Loan   The Senate has indicted the Office of Accountant General of the Federation over failure to repay short-term loans given to Ministries, Departments, and Agencies from Special Funds Accounts totalling N910bn. The lawmakers discovered this...

Forex Turnover In I&E Rises By 78% To $2.5bn   The volume of dollars traded (turnover) in the Investors and Exporters (I&E) window of the foreign exchange market rose by 78.5 per cent, month-on-month (MoM) to $2.5 billion in May 2023...

Trapped Funds: Foreign Airlines Plan Meeting With Fed Govt   The Switzerland-based global airline body, International Air Transport Association (IATA) on Sunday warned that rapidly rising levels of blocked funds were a threat to airline connectivity in Nigeria and some affected...

CBN Reveals Earnings From Electricity Export Drop By 27%   Nigeria’s electricity export crashed by $58.1m in one year amid grid collapse. Data from the Central Bank of Nigeria showed that the value of Nigeria’s electricity export was $213.66m in 2021 but...

Fuel Importation: Marketers Demand Equal Access To Forex   Oil marketers have projected that the ex-depot price of Premium Motor Spirit, popularly called petrol, would hit N515/litre once they source foreign exchange rate at the parallel market for the importation of...