Naira Depreciates by 0.3% in Parallel Market The naira traded at N1,620 on Thursday, extending its depreciation streak to five days at the parallel section of the foreign exchange (FX) market. The local currency depreciated by 0.3 percent from the N1,615 per dollar traded on July...

CBN Approves Sale of $20,000 to BDC Operators The Central Bank of Nigeria (CBN) has approved the sale of foreign exchange (FX) to eligible bureau de change (BDC) operators at N1,450 per dollar to meet the demand for invisible transactions. In a statement on Thursday signed...

Oil Theft: IG Appoints New Commander for Petroleum Taskforce  The Inspector General of Police, Kayode Egbetokun, has appointed Deputy Commissioner of Police, Bayonle Sulaiman, as the new Commanding Officer in charge of the Inspector-General of Police Special Task Force on Petroleum and Illegal Bunkering. Egbetokun on...

Just In: Tinubu Approves N70,000 Minimum Wage President Bola Tinubu has approved N70,000 minimum wage for Nigerian workers, promising to review the national minimum wage law every three years. Mohammed Idris, Minister of Information, announced this at the Presidential Villa in Abuja, on Thursday. According to Idris,...

Reps Pledge 50% of Salaries to Cushion Economic Hardship The House of Representatives on Thursday pledged to give up 50 per cent of their salaries for six months to address the hunger across the country. During a plenary session presided over by Speaker Tajudeen Abbas, Deputy...

IOCs Sell Crude at $4 Per Barrel Above Official Rate, Hike Petrol Price — Dangote The Dangote Industries Limited (DIL) said local petrol prices will continue to increase as trading arms offer cargoes at $2-$4 per barrel above the Nigeria Upstream Petroleum Regulatory Commission (NUPRC)...