IMF Warns FG on Dollar Rise, Weak Economy The International Monetary Fund has said a 10 per cent appreciation in the dollar, linked to global financial market forces, decreased economic output in emerging market economies including Nigeria by 1.9 per cent. It noted that this decline...

Naira Recovers, Exchanges For N742/$   The naira rebounded yesterday to N742/$ in the Investors and Exporters (I&E) Window- official market. The rate represents N53/$ gain from at N795.2/$ it closed on Monday. The rate at the parallel market was N812/$, which was stronger than N820 it...

Food Price: FG To Sanction Trade Associations Over Hike   The Federal Government, through the Federal Competition and Consumer Protection Commission (FCCPC) will begin to roll out sanctions against members of trade associations guilty of anti-competitive practices, indiscriminate and irrational hike of food prices. Chief Executive Officer...

Equity Investors Gain N700bn In Two Days   Following price upticks on the Nigerian Exchange Limited (NGX), equity investors have now gained N700bn in two consecutive trading days. At the close of Tuesday’s trade, the benchmark index advanced by 1.31 per cent. Specifically, the data from Monday...

NPA Rakes In N191bn Revenue In Six Months   The Nigerian Ports Authority (NPA) has said 1,852 vessels completed operations in the first half of 2023. The authority said it generated N191.4bn as revenue within the period under review. It added that N55.7bn was remitted to the consolidated...

CBN Withdraws 2,698 BDCs Licences In One Year   The Central Bank of Nigeria (CBN) has released an updated list of Bureau de Change (BDCs) dealers approved in the country. According to the list published by the apex bank, the total number of approved BDC operators reduced...