FG Halts Plan to Sell N40,000 Subsidised Rice to Civil Servants The Federal Government has suspended the proposed sale of subsidised rice to civil servants. It has, therefore, withdrawn the circular in which it directed civil servants interested in subsidised rice to apply. This was made known...

Net FX Inflows Rises 55% to $25.4bn in Six Months – CBN The Central Bank of Nigeria (CBN) has revealed that net foreign exchange inflows rose to $25.4 billion between January and June, marking a 55 percent year-over-year increase. This growth has been driven by a...

Crude Oil Sales in Naira Yet to Commence – CORAN The Crude Oil Refinery-owners Association of Nigeria (CORAN) has said that none of their members have begun receiving the sales of crude oil in the local currency, naira. Echie Idoko, the Public Secretary of CORAN, made...

Crude Crisis: I’ll Reveal the Truth at Appropriate Time, Says Kyari The Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari, has said he will reveal the truth about the company’s operations in the oil and gas sector at the appropriate...

FG Eyes $1bn from Sales of Dollar-denominated Bonds The Federal Government of Nigeria has introduced its Series I Domestic USD Bond, aiming to raise a minimum of $500m from both local and international investors. In an auction circular released, the government said it aims to double...

Forex Policy: CBN Strengthens Naira with $876m Auction The Central Bank of Nigeria has auctioned $876.26m to end users whose bids were submitted by 26 commercial banks to strengthen the ailing naira. The policy impacted the foreign exchange market on Wednesday as the naira appreciated against...