FG Eyes World Bank's $1.5bn Loan to Stabilise Naira - Edun The federal government has said it is in discussion with the World Bank for a $1.5 billion loan to support the budget and also provide liquidity in the forex market. The Minister of Finance and...

NNPCL Says 10,166 Illegal Refineries, Connections Destroyed in Three Years The Nigerian National Petroleum Company Limited, on Wednesday, said a total of 10,166 illegal refineries and crude oil connections were destroyed in Nigeria since 2021. It specifically stated that over 5,686 illegal refinery sites were destroyed,...

Currency Outside Banks Rose To N3.08trn In Nov 2023 – CBN   Latest figures from the Central Bank of Nigeria (CBN), on Tuesday, revealed that cash outside banks experienced a 27.80 per cent increase, reaching N3.08 trillion in November 2023 from N2.41 trillion in recorded in...

NNPCL Uncovers 83 Illegal Refineries In Niger Delta   The Nigerian National Petroleum Company Limited (NNPCL) says it has in the past one week uncovered no fewer than 83 illegal refineries in the Niger Delta. The NNPCL disclosed this on its X handle on Tuesday, as part...

Equity Investors Gain N1.8trn As Market Sets New Records   The Nigerian Exchange Limited set new records at the close of trading on Tuesday as the benchmark index, the All-Share Index rose by 3.93 per cent to 87,971.09 points, a new high. Similarly, the market capitalisation rose...

Naira Falls To 1300/$ At Parallel Market   The naira tumbled to N1,300/$ at the parallel market on Tuesday. This is as it closed trading on the Peer-to-Peer cryptocurrency window at N1,315.3/$1 on the day. An Abuja Bureau de Change operator at Zone 4, Magaji Muhammed, said the...