Brent Crude Prices Rise by 3% Following Norwegian Outage, Ukraine War   Oil prices climbed more than 3 per cent on Monday after crude production was halted in Norway, which added to the latest escalation of the Russia-Ukraine war. Brent crude futures settled at $73.30 a barrel...

Why We Didn't Meet Port Harcourt Refinery Completion Deadline - NNPC   Barely two months after the September completion deadline flop, the Nigerian National Petroleum Commission has explained why it could not deliver the much-awaited Port Harcourt Refinery Company. In an interview on Monday, the NNPC Chief...

CBN Warns Against Fraudulent Contract, Project Funding Claims   The Central Bank of Nigeria (CBN), has warned members of the public to be weary of activities of fraudsters purporting to be in receipt of award letters of contracts related to construction works and special financial interventions...

PoS Operators Blame Double Transaction Charges on Cash Scarcity   Point of Sale (PoS) operators in Nigeria have raised transaction fees by over 50 per cent, attributing the increase to severe cash scarcity caused by banks rationing withdrawals. With yuletide and end-of-year holidays fast approaching, Nigerians may...

Naira Drops to N1690.37/$ as Dollar Supply Declines   The naira weakened by 2.31 per cent or N38.12 on Monday at the National Autonomous Foreign Exchange Market to N1690.37/$ compared to 1652.25/$ that it had closed the previous week at. According to FMDQ data on Monday, the...

Foreign inflow on NGX Drops to N11bn – Report Foreign inflow into the Nigerian Exchange Limited declined to the lowest point of the year at N11.26bn in September. This is according to the latest Domestic & Foreign Portfolio Investment Report of the NGX. The report indicated that...