N120bn Petrol Subsidy To Double As CBN Adjusts Exchange Rate       As the Central Bank of Nigeria (CBN) signals a subtle harmonisation of exchange rates with the removal of N379/$1 official rate from its website, all is set for labour unions to lock horns with the...

Fed Govt May Exceed N7.89trn 2021 Revenue Target As Oil Prices Soars         There are indications that the Federal Government may be on course to meet and perhaps, surpass the projected oil revenue target in the 2021 budget if the recent rise in the prices of...

CBN Battles Recession, Raises COVID-19 Facility To N300bn       Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele, yesterday said the bank would raise its COVID-19-targeted facility from N150 billion to N300 billion in order to accommodate more Nigerians in a bid to cushion the impact...

MTN Nigeria Profit Shrinks To N144.24bn         MTN Nigeria’s profit dropped by 3.3 per cent, recording N144.24bn profit after tax in the nine-month period ended September 30, the company’s unaudited financial report released on Wednesday has shown. MTN said its operations were impacted by the devaluation of...

FDI: CBN Allays Fear over Forex Sanctions The Central Bank of Nigeria (CBN) acknowledges the public interest over sanctions recently imposed on four deposit money banks (DMBs). We wish to restate that the CBN will continue to welcome foreign direct investments(FDI) and investors. Indeed, some...

The naira has depreciated marginally to N360.13 per dollar in the Nigeria Autonomous Foreign Exchange Window (NAFEX)​. The local currency had closed at N360.08 last weekend. ​Meanwhile, the Central Bank of Nigeria (CBN) ​yesterday, injected 195million dollars into the inter-bank Foreign Exchange(Forex) Market. Isaac Okorafor, ​a​cting Director​,...