Four Weeks After Production Take-off, Marketers Await Dangote Fuel   Oil marketers, on Monday, declared that they were still awaiting the supply of refined petroleum products from the $20bn Dangote Petroleum Refinery, four weeks after the launch of production at the multi-billion dollar plant. On January 12,...

Operator to Tinubu: Ban Dollar Cash Transactions To Save Naira The Group Managing Director of CFL Group, Lai Omotola, has urged President Bola Tinubu to sign an executive order prohibiting dollar cash transactions to save the naira from further depreciation. Omotola noted that several economic policies...

CBN Sells Over $300m To Banks As Naira Gains The Central Bank of Nigeria (CBN)has over $300m to Deposit Money Banks in the last two weeks amid desperate efforts to stabilise the naira-dollar exchange rate. The Association of Corporate Treasurers of Nigeria made the disclosure in...

Naira Appreciates to 1,468 per Dollar as MPC Meets After weeks of free fall, the Naira has finally made a comeback against the US dollar, reaching a new high of 1,468 in the official market. According to Economic Confidential findings at the parallel market, the average...

FX Crisis Threatens Modular Refineries Modular refineries in Nigeria are currently facing the threat of shutting down operations following their inability to access foreign exchange for the purchase of crude oil, a commodity priced in United States dollars. Nigeria has 25 licenced modular refineries with a...

Inflation: CBN Mops Up N1.51trn in 16 Weeks to Stabilise Economy The Central Bank of Nigeria (CBN) has issued a total of N1.5 trillion in Open Market Operation (OMO) bills since Olayemi Cardoso took the helm as governor in a bid to stem inflation and...