Naira now N1,235 Per Dollar in Black Market The Naira, on Wednesday, depreciated to N1,035.12 per dollar in the Nigerian Foreign Exchange Market, NAFEM. Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,035.12 per dollar from N988.46 per dollar on Tuesday. This...

Dangote Dethroned as Africa's Richest Man, Adenuga, Rabiu Fall in Ranking A South African billionaire, Johann Rupert, has emerged as the richest man in Africa, dislodging Aliko Dangote as the continent’s wealthiest man in a list released by Forbes Magazine. Nigerian billionaires; Rabiu Abdulsamad and Mike...

NNPCL Debunks Rumour of Imminent Fuel Price Increase  The Nigerian National Petroleum Company (NNPC) Ltd. has assured the public that there is no imminent increase in the cost of Premium Motor Spirit (PMS), commonly known as petrol. The NNPC in a statement on Wednesday by its...

Professor Moghalu and the Limit of Self-righteousness By Temitope Ajayi I continue to find it quite amusing how Professor Kingsley Moghalu and others like him have managed to convince themselves that their period in government was the 'golden era of competence' in the management of the...

EFCC Arrests NSIPA Boss, Halima Shehu, over N37.1bn Humanitarian Fraud  The Economic and Financial Crimes Commission (EFCC) has arrested and detained the National Co-ordinator and Chief Executive Officer of the National Social Investment Programme Agency, Halima Shehu. EFCC sources told Economic Confidential that Shehu was arrested...

Why CBN Barred Crypto Bank Account Operators from Cash Withdrawal The Central Bank of Nigeria has instructed banks to decline cash withdrawals from accounts opened for virtual and digital assets transactions due to its new regulations aimed at providing standards for the banking sector. Withdrawals from...