CBN Rebukes Those Using Parallel Market To Push For Naira Devaluation       Those using parallel market rates to put pressure on the Central Bank of Nigeria (CBN) to devalue the Naira won’t have their way. The CBN Governor, Mr. Godwin Emefiele gave this indication at the end...

Wheat Importation Gulps N2trn In 4 Years — Nanono         The Minister of Agriculture and Rural Development, Alhaji Sabo Nanono, has said from 2016 to June 2020, Nigeria spent over $6 billion (about N2.283 trillion) to import wheat. The minister disclosed this while delivering the keynote address...

NNPC Denies Non-remittance of N21bn Revenue To Federal Account         The Nigerian National Petroleum Corporation (NNPC) has denied allegations it did not remit N21bn revenue from Nigeria Liquefied Natural Gas (NLNG) to the Federation Account. Its Group Managing Director (GMD) Mele Kyari dismissed the allegation as pedestrian...

NNPC Cuts Losses To N82bn From N800bn       The Nigerian National Petroleum Corporation (NNPC) yesterday said losses from vandalism and oil theft has reduced from N800 billion in 2018 to less than N82billion, a feat attributable to clampdown on vandals by joint security efforts. Its Group Managing...

Banks’ Average Daily Deposit With CBN Drops To N48.32bn       The Central Bank of Nigeria (CBN) says the average daily deposit amount of N84.27 billion in 246 transaction days in 2018 dropped to N48.32 billion in 251 transaction days in 2019. This was contained in the bank’s...

COVID-19: We Spent N3.5trn On Economic Growth - CBN       The Central Bank of Nigeria (CBN), says it has so far made a total of N3.5trillion disbursements to cushion the effect of COVID-19 pandemic on the country’s economy. This is contained in a review of the 132nd...