CBN Expends $17.81bn To Strengthen Naira   The Central Bank of Nigeria (CBN) drew down Nigeria’s foreign reserves and expended $17.81billion to defend the nation’s weak currency, at the foreign exchange(forex) markets in 2022. According to the apex bank in its Annual CBN Activity Report, in 2022,...

'Trade Compliance Declined By 20% In Eight Years'   A maritime research group, Sea Empowerment and Research Centre has stated that trade compliance in Nigeria dropped by 20 per cent under the Col Hammed Ali (retd)-led administration of the Nigeria Customs Service in the last eight...

Telecoms Investments In Nigeria Now $75.6bn – Danbatta   The Executive Vice Chairman (EVC) of the Nigerian Communications Commission (NCC), Prof. Umar Garba Danbatta, yesterday disclosed that investment profile of the nation’s telecommunications sector, comprising foreign direct investment (FDI) and local investment, has reached $75.6 billion...

Naira Appreciates To N742/$ At Official Market   The naira yesterday appreciated to N742/$ at the Investors and Exporters (I&E) window. The closing rate represents a major rebound from Tuesday’s N768/$ rate. According to report from FMDQ Exchange, the naira opened at N764/$ and traded tightly around...

Terminal Operator Hikes Tariff On Imported Vehicles By 36%   Months after the Maritime Workers Union of Nigeria requested that terminal charges be reviewed upwards, Ports & Terminal Multipurpose Limited has announced a 36 per cent increase in tariff on imported vehicles with effect from July...

Consumers Lament As Nigeria Exports N23bn Electricity   Power consumers, on Wednesday, kicked against the export of about N23.13bn worth of electricity from Nigeria to some neighbouring countries in 2022 despite the widespread darkness witnessed in many Nigerian communities. The latest data on the remittances by international...