FG Probes NNPCL, Oil Firms' $1.6bn Debt The House of Representatives Public Accounts Committee, on Tuesday, initiated an investigation into the outstanding debts owed to the Federation Account by the Nigerian National Petroleum Company Limited and oil companies. The investigative hearing, chaired by the sub-committee Chairman,...

Inflation: NGX Trading Dips as Investors Loss N166bn The Nigerian Stock Exchange on Tuesday recorded a significant dip as investors lost N166bn in market value, following the drop in Nigeria’s headline inflation to 24.48 per cent in January 2025. The latest inflation figure, announced by the...

FG Slams N300,000 Fine on Energy Theft The Nigerian Electricity Regulatory Commission has says electricity consumers will pay a fine of up to N300,000 if they bypass their prepaid meters. This was contained in an amended Order on Unauthorised Access, Meter Tampering and By-Pass released on...

‎Naira Rebounds to ₦1,540/$ in Parallel Market ‎The naira rebounds against the dollar on Tuesday in the parallel foreign exchange market, reversing earlier losses. A source at the Abuja Black Market told Economic Confidential that the naira was trading at ₦1,530/$ (buy) and ₦1,540/$ (sell) as...

The Governor of the Central Bank of Nigeria (CBN) Olayemi Cardoso, has called for stronger economic ties between Nigeria and the Middle East.

‎Dollar Hits High in Black Market as Naira Struggles ‎ ‎As of February 17, 2025, the exchange rate between the US dollar (USD) and the Nigerian naira (NGN) in the black market is approximately ₦1,570 per $1. This rate has remained stable over the past few days,...