EFCC Secures Court Approval to Seize 1,146 Individuals, Companies’ Accounts in FX Scandal
In a sweeping move to tackle foreign exchange (FX) irregularities, the Economic and Financial Crimes Commission (EFCC) has won a major victory in the Nigerian courts. The Federal High Court has approved...
Again, Dollar Strengthens Against Naira, Now N1,350/$
The naira further depreciated to N1,350 per dollar at the parallel section of the foreign exchange (FX) market on Monday.
The current FX rate represents a 2.27 percent decline from N1,320/$ traded on April 26.
Currency traders, known as bureau...
$10bn Required Annually for Ten Years to Revive Power Section, Minister Says
The Federal government has emphasised that for the power sector to operate at peak performance, an annual investment of $10 billion is imperative, just as it also disclosed that the country would allocate...
NUPRC Offers 12 Oil Blocks to Investors as 2024 Bid Round Commences
The Nigerian Upstream Petroleum Regulatory Commission, NUPRC, yesterday, disclosed that it has commenced the process for the 2024 oil bid round with 12 oil blocks on offer and seven deep offshore blocks from...
Forex Crisis: NERC to Deregulate Meters Prices
The Nigerian Electricity Regulatory Commission on Monday released an order on the Deregulation of Meter Prices for meters deployed under the Meter Asset Provider Scheme.
It said the prices of meters were deregulated after Meter Asset Providers and other...
Senate Working on Strategies to Tackle Naira Crisis
The Senate Committee on Finance has expressed worry over, “the instability and continuous depreciation of the naira.”
In a statement issued on Sunday, the Chairman of the Committee, Senator Mohammed Sani Musa, said the committee is monitoring the...
