Naira Stable at ₦1,630/$ in Black Market Amid Lingering Forex Pressures ‎The naira remained stable on Wednesday in the parallel foreign exchange market, maintaining the same rate recorded at the close of trading on Tuesday. ‎A source at the Abuja black market told Economic Confidential that...

Equity Market Rebounds as Investors Gain N315bn  The Nigerian Stock Exchange witnessed a significant rebound at the close of Tuesday’s trading session, with a remarkable N315bn gain in market capitalisation. The market closed at N68.4tn, driven largely by key players such as Oando, Chellarams, and Transcorp,...

World Bank Faults FG Cash Transfer Programme The World Bank has faulted the Federal Government’s conditional cash transfer programme, stating that the initiative failed to reach millions of Nigerians in need of urgent economic relief, as only 37 per cent of the targeted households had...

CBN Launches Diaspora BVN Platform, Targets $1bn Monthly Remittances  The Central Bank of Nigeria, in collaboration with the Nigeria Inter-Bank Settlement System, has launched the Non-Resident Bank Verification Number platform, an initiative aimed at enhancing financial access for Nigerians in the diaspora. The platform, which enables...

REA Attracts N5.8bn Private Investment with Renewable Energy  The Federal Government has announced progress in its drive to expand clean energy access across the country, revealing that the Rural Electrification Fund has attracted N5.8bn in private sector investment. The programme managed by the Rural Electrification Agency...

FG Begins Export of New Crude Blend, Obodo The Nigerian Upstream Petroleum Regulatory Commission says the first cargo of the new Obodo crude blend has been shipped. In a statement by the NUPRC Chief Executive, Gbenga Komolafe, on Tuesday, he congratulated Conoil Producing Limited on the...