FG Commences Restructuring of 11 DisCos – Power Minister   Power distribution companies in Nigeria are currently being unbundled along state lines due to their large sizes that often result in efficiency and ineffectiveness, the Federal Government declared on Monday. It stated that the privatisation of the...

Naira Depreciates to N1,250/$ in Parallel Market   The Naira, yesterday, depreciated to N1,250 per dollar in the parallel market, from N1,140 per dollar on Thursday. Similarly, the Naira depreciated in the Nigerian Foreign Exchange Market, NAFEM, to N1,234.49 per dollar. Data from FMDQ showed that the indicative...

BDCs Now Buying Dollar At N980 as Naira Appreciates - ABCON The Association of Bureau De Change Operators of Nigeria (ABCON) said the Bureau De Change (BDC) operators were buying dollars at N980/$ at the open market and selling at N1,020/$. This was confirmed by the...

FG, NNPCL Fault El-Rufai, Marketers Claim, Says No Subsidy Return The Federal Government through its Ministry of Petroleum Resources and the Nigerian National Petroleum Company Limited have stated that the various claims by different individuals and groups on the alleged return of subsidy on Premium...

CBN Reduces Banks’ Loan-deposit Ratio to 50% The Central Bank of Nigeria has slashed commercial banks Loan-to-Deposit Ratio from 65 per cent to 50 per cent as part of measures to deepen its monetary tightening policy. The development means Deposit Money Banks are now allowed to...

Price Of Cooking Gas Crashes as Naira Gains  The prices of liquified natural gas (LPG), also known as cooking gas, are beginning to crash following the appreciation of the Nigerian currency, the Naira. In March, some Nigerians and gas dealers expressed anger over the rising price...