CBN Sells $122.67m to 46 Authorised FX Dealers to Stabilise Market The Central Bank of Nigeria (CBN) has taken a significant step to stabilise the foreign exchange market by selling $122.67 million to 46 authorised dealers. This move is aimed at promoting market stability and reducing...

FG, IOCs State Commitment Towards Crude Oil Supply to Local Refineries The Federal Government and crude oil producers in Nigeria have committed to working towards a sustainable supply of crude oil to local refineries under a market-determined pricing system. Both parties said the aim of the...

Naira Gains Marginally, Now N1,554.65 per Dollar The naira appreciated against the dollar at both official and parallel foreign exchange markets for the first time since last week. FMDQ data showed that the naira appreciated marginally to N1,554.65 against the dollar on Thursday from N1,561.98 traded...

FCT High Court Judge, Ogbonnaya, Accused of Withholding Judgment in an Unlawful Sale of Hospital A judge of the Federal Capital Territory (FCT) High Court, Justice K. N Ogbonnaya, has been accused of withholding judgment in a motion challenging the unlawful sale of the multi-billion-naira...

Court Remands Ex-power Minister in Kuje Prison over N33bn Fraud The Abuja Federal High Court has ordered that a former Minister of Power, Saleh Mamman, be remanded in Kuje prison in Abuja pending the consideration of his bail application. Justice James Omotosho issued the order on...

Senate Rejects Bill to Boost Gold Reserves A bill seeking to boost the nation's reserves by using gold has been rejected by the Senate. The bill sponsored by Senator Sani Musa ( APC, Niger East) titled “ Foreign Exchange (Control and Monitoring) Bill, 2024 (SB. 353)”...