External Reserve Increases Marginally, Naira Depreciates Further Against Dollar to 1,515/$
The Naira decline persisted on Monday, with further depreciation in the parallel market to 1,515 to a dollar.
This represents a 2.97 percent (N45/$1) depreciation when compared to the exchange rate of N1,470 on Friday.
The...
FCMB Group Profit Increases by 192% in Q1
FCMB Group’s profit before tax jumped by 192.6 per cent to N31.3bn in the first quarter of 2024.
According to the financial results of FCMB for Q1, filed with the Nigerian Exchange Limited, all of the group’s business...
Nigeria, Ghana get $1m to support SMEs, innovation
Impact Investing Ghana (IIGh) and Impact Investors Foundation (IIF) Nigeria have received a US$545,256 additional grant funding from The Research and Innovation Systems for Africa (RISA) Fund to scale sustainable systems for enterprise and innovation financing across...
IMF to FG: Remove Implicit Fuel, Electricity Subsidies
The International Monetary Fund has warned the Nigerian government to remove what it called implicit fuel and electricity subsidies.
In a report published recently by the IMF, the organisation told Nigeria that the subsidies would guzzle three per...
Customs Duty Rises to N1,457 per Dollar
The exchange rate for import duties collection by the Nigerian Customs Service (NCS) has risen to N1457/$, the highest in just over six weeks, according to checks on the exchange rate portal of the NCS.
According to data on...
NNPCL to Begin Oil Production at OML 13
Nigerian National Petroleum Company Exploration and Production Limited (NNPCL) and Natural Oilfield Services Limited have announced the commencement of oil production at Oil Mining Lease 13 in Akwa Ibom State.
This was contained in a statement signed by...
