Naira Crashes to N1,000 Per Dollar in Official Market Despite recent moves by the Central Bank of Nigeria to strengthen the foreign exchange market, the naira closed trading on the Investor & Exporter forex window on Thursday at N996.75/$. This is a 13.95 per cent decline...

'N1trn Lost Annually to Poor Maritime Infrastructure'   Nigerian shipowners have said that the country’s maritime sector is losing about N1tn annually due to poor infrastructure. The immediate past president of the Shipowners Association of Nigeria, Greg Ogbeifun, said this on Tuesday in Lagos at the national...

Old Banknote Remains Legal Tender - CBN Every banknote remains legal tender and should not be rejected by anyone, the Central Bank of Nigeria has disclosed. This is as the apex bank directed all its branches across the country to continue to issue different denominations of...

JUST IN: Tinubu Signs N2.17trn 2023 Supplementary Budget into Law   President Bola Ahmed Tinubu has signed his first national budget, the 2023 supplementary budget, into law. President Tinubu signed the N2.17trn Budget at the State House, Abuja on Wednesday afternoon. The Senate and the House of Representatives...

NPA Earmarks $1.1bn for Port Rehabilitation   The Nigerian Ports Authority (NPA), on Tuesday, said it is committed to investing about N890 billion ( $1.1 billion) in the rehabilitation of all the seaports in Nigeria. Mohammed Bello Koko, the Managing Director of NPA, disclosed this during a...

'Nigeria Loses $100bn Annually to Climate Change'   Climate change costs Nigeria about $100bn annually, an Agora report has stated. “The report titled “Climate Change and Socio-Economic Development in Nigeria, “ noted that climate change was increasing hunger, poverty, disease burden, migration, conflict, and insecurity in Nigeria,...