Naira Redesign, Others Gulped N74bn In 2022, Says CBN   It cost the Central Bank of Nigeria (CBN) and its subsidiary about N74.84bn to produce and roll out currencies, including new naira notes, in 2022. Despite the scarcity of naira that plagued the country in the latter...

Domestic Airfares Hit 40% High In 12 Months – NBS   Nigeria’s domestic air travel expenses have skyrocketed by 40 per cent from June 2022 to June 2023. The National Bureau of Statistics (NBS) data disclosed this in its recent Transport Fare Watch report for June 2023. The...

Naira Trades 845/dollar at Parallel Market Today The naira rebounded against the United States dollar at the parallel market, closing at 850/dollar on Wednesday. This came about two days after the Central Bank of Nigeria announced its planned intervention in the foreign exchange market. The naira was...

Explainer: What you need to know about NNPC Ltd's $3 billion Emergency Crude Repayment Loan from Afrexim Bank   1. What is the $3 billion loan about? The NNPC Ltd. secured an emergency $3 billion crude oil repayment loan from AFREXIM Bank. This is not a crude-for-refined...

NNPC Secures $3bn Afreximbank’s Loan To Stabilise Naira   The Nigerian National Petroleum Corporation (NNPC) Limited said it had secured a $3 billion crude repayment loan to halt the further slump of Naira against the Dollar at the foreign exchange market. The company disclosed this on Wednesday...

Nigerian Govt To Sell Stakes In NNPC, 19 Entities   The Federal Government may sell stakes in about 20 state-run companies to raise funds and improve governance in the entities. This is according to a Bloomberg report. The Nigerian National Petroleum Corporation is among the firms the...