TCN to Complete 53 CBN-funded Projects in 2024 The Central Bank of Nigeria, Transmission Company of Nigeria, and power distribution companies will in May next year complete a total of 53 power projects worth N122bn currently under construction across the country. During a tour of three...

NIBSS Directs Banks to Disconnect non-deposit Financial Institutions from Transfer List Banks have been asked to disconnect Switches, Payment Solution Service Providers, and Super Agents from the Nigeria Inter-Bank Settlement System Instant Payment Outwards System. The NIBSS disclosed this in a circular dated December 5, 2023,...

FG Raises Exchange Rates For Cargo Clearance To N951/$ The Federal Government through the Central Bank of Nigeria, has raised the exchange rate for cargo clearance from N783/$ to N952/$. This is coming barely three weeks after the rate was increased from N757/$ to N783/$. In November,...

Wabote Says Nigerian Refinery Produced 170m Litres Of Petroleum In 2023   The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr. Simbi Wabote, has said that the painstaking implementation of the Nigerian Oil and Gas Industry Content Development Act (NOGIC) Act 2010...

NGX: Market Rebounds as Banking Stocks Drive N166bn Gain   The Nigerian Exchange Limited (NGX) witnessed a rebound in its equities market on Tuesday, propelled by a rally in banking stocks. The market had initially started the week on a negative note, experiencing a 0.57 per...

NNPC to Review Pricing Regime For Crude Oil Traders   The Nigerian National Petroleum Company Limited (NNPCL) will review how its crude cargoes are priced from January 2024. A report by Bloomberg quoting a circular by the company stating that the new product pricing would be against...