Anticipated $3.4bn SDRs From IMF, $6.2bn Eurobond Issuance Lift Naira At BDC, Parallel Markets
Despite the suspension of supply of foreign exchange sales to Bureau De Change (BDCs) by the Central Bank of Nigeria (CBN, the naira strengthened against the dollar at the BDC and...
Customs Impound N22bn Animal Parts, N338.58m Goods
The Nigeria Customs Service (NCS), on Wednesday, said it intercepted N22.2 billion worth of elephant and pangolin scales and claws in an apartment in Lekki area of Lagos.
The Nigeria Customs Service (NCS), on Wednesday, said it intercepted N22.2...
FEC Okays $1.48bn For Refineries Repair
The Federal Executive Council on Wednesday approved $1.48bn for the rehabilitation of two refineries in Warri and Kaduna.
The decision was taken at the weekly meeting of the council presided over by Vice-President Yemi Osinbajo.
Osinbajo stood in for President Muhammadu...
Nigeria Loses N530bn Annually To Motor Insurance Evasion
Although Nigeria has about 11.8 million registered vehicles plying the roads, only about 1.2 million of such vehicles have valid insurance.
The implications are that the nation’s insurance industry may be losing about N530 billion due to the...
Nigerians Lose N150.46bn To Twitter Ban In Two Month
Nigeria businesses may have lost N150.46bn ($366.88m) since the Federal Government’s ban on Twitter took effect in the country on June 5.
This figure was calculated based on the NetBlocks Cost of Shutdown Tool. According to the...
'Nigeria, Others Require $15.7bn To Curb Refineries’ Emissions'
African nations need to spend about $15.7bn on their refineries to curb emissions and meet climate-change targets as demand for oil and gas surges, an industry lobby group, African Refiners and Distributors Association, has said.
The Executive Secretary...
