Naira Springs Back After CBN Directive on Shelling Excess Dollar Before the February 1, 2024 deadline given by the Central Bank of Nigeria (CBN) to commercial banks to sell all excess foreign exchange holdings, Deposit Money Banks on Thursday made frantic efforts to offload their...

CBN Fixes $1m Capital Requirements For International Money Transfer Operators   The Central Bank of Nigeria (CBN) has fixed $1m as the minimum share capital requirement for International Money Transfer Operators in the country. This was revealed in its revised guidelines for the operation of IMTOs, which...

Jalal Arabi, Shuttle Diplomacy and NAHCON'S Preparations for 2024 Hajj By Fatima Sanda Usara From 7th of January 2024 to the end of the pre-Hajj visit, the Chairman of the National Hajj Commission of Nigeria (NAHCON) Malam Jalal Ahmad Arabi led his team in making preparatory...

High inflation, Reforms Create Hardships in Nigeria - IMF The International Monetary Fund has disclosed that high inflation is creating hardships in Nigeria. The Division Chief, Research Department, Daniel Leigh, revealed this at the fund’s press briefing for its January 2024 World Economic Outlook Update. Leigh...

Removal of Electricity Subsidy Imminent for Stable Power Supply - Adelabu The Minister of Power, Adebayo Adelabu, has expressed concerns over the poor electricity supply situation in the country caused by a multitude of issues including outstanding subsidy debts. He said Nigeria should migrate to a...

PH Refinery: Atiku Questions NNPCL Third Party Operation, Urges Transparency  Former Vice President Atiku Abubukar has faulted the plan to hire a third party to manage the Port Harcourt refinery after its rehabilitation, arguing that the federal government should have privatised it before the process...