In 6 Months, Customs Recovers N3.14bn From Lagos Importers Authority in charge of the Comptroller General of Customs (CGC), Strike Force Team A, yesterday said it recovered over N3.14 billion from dubious importers in Lagos in the last six months. It disclosed that it was able...

Just in: Naira Crashes to N710 to a Dollar The Nigerian naira has crashed further in the parallel market, trading for N710 against the U.S. dollar on the exchange platform Aboki Forex. Checks by Economic Confidential on Wednesday showed the current parallel market rate pegged at...

BUA Cement Target N112bn Export To Niger, Burkina Faso BUA Cement Company has disclosed that the company will increase its cement export to neighbouring Niger republic and Burkina Faso to improve its Foreign exchange earnings. Chairman of the Board of Directors of BUA Cement Plc, Abdul...

In 3yrs, Net Foreign Exchange Inflow Falls 56% to $3.2bn Net foreign exchange (forex) inflow into the economy fell by 56 per cent to $3.2 million in February 2022 from $7.2 billion in February 2020. Economic Confidential analysis of data from the Central Bank of Nigeria,...

IPMAN Threatens Legal Action Against NMDPRA Over 74bn Accusation The Independent Petroleum Marketers Association of Nigeria (IPMAN), has threatened to drag the management of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to court over its purported claims on the payment of N74 billion transport...

Naira Remains Constant, Exchanges At 421/$   The Naira on Tuesday remained constant at exchanging at 421.00 to the dollar for the second day at the Investors and Exporters window. The local currency remained unchanged at 421.00 to the dollar, same as the 421.00 traded on Monday. The...