Dangote, BUA, Others Lift Investors’ Gain to N4.3trn The exponential appreciation in equities at the Nigerian Exchange Limited (NGX) continued last week as demand for blue chips and dividend paying stocks, such as Dangote Cement, BUA Cement, BUA Foods among others increased across the major...

Motor Vehicle Imports, Others Record Extensive Decline As naira continues to depreciate, Nigeria’s motor vehicle imports recorded a massive 32 per cent decline in 2023 with total imports through the Nigerian ports at 132,293 units, from 194,550 recorded in 2022. Findings from the Nigerian Ports Authority...

CBN Releases $500m to Address Verified FX Backlog The Central Bank of Nigeria (CBN) has released US$500 million to various sectors in effort to address the backlog of verified foreign exchange (forex) transactions. This comes barely a week after the Bank paid approximately US $2.0 billion...

NAICOM Issues Crown Takaful Operational License The management of Crown Takaful Insurance Limited has received operating license from the National Insurance Commission (NAICOM) to start business for the benefit of Nigerians. The operation license is coming barely three months after the issuance of approval in principle As...

Naira Depreciation: Manufacturers Plan General Price Hike   Manufacturers have predicted fresh hikes in the prices of commodities in the market to rise in response to the continued fall of the naira against the United States dollar. On Friday, the naira plunged to N1,420/$ at the parallel...

'NNPCL Remitted Zero Allocation To Federation Account In 2022'   The Nigerian National Petroleum Company Limited (NNPCL) remitted literally zero funds to the Federation Account in 2022 due to the payment of subsidy on Premium Motor Spirit, popularly called petrol, the Chief Financial Officer, NNPCL, Umar...