Forex: NAFEM records 30% rise in turnover to $4.34bn, as Naira depreciates 6%
The volume of dollar traded (turnover) in the Nigerian Foreign Exchange Market, NAFEM, increased month-on-month (MoM) by 30 percent to $4.34 billion in July from $3.33 billion in June. Analysis…
Dangote Refinery to sell remaining NNPC 12.7% stake – rating agency
The Dangote Refinery is planning to sell a 12.7 per cent stake in 2024 for loan servicing, Fitch Ratings, a credit rating agency says in a report released on Monday.…
FG spends $600m on fuel importation monthly – Edun
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has revealed that the country currently spends $600m on fuel importation monthly. He stated that the high import…
Import duty waiver on rice, beans, others start next week – FG
The guidelines for the suspension of customs duty and taxes on imported food items are to commence next week, the Federal Government announced on Tuesday. In July the Federal Government…
Global stocks rebound after historic plunge
Most equities rallied Tuesday after the previous day’s global rout fuelled by US recession fears that have led to calls for the Federal Reserve to cut interest rates before its…
Fintech firms unveil plan to bridge financial gap in Jigawa
Fintava, a Nigerian fintech company, and Bizipay, an agent network in Kano have unveiled an initiative aimed at expanding financial access to over 100,000 unbanked individuals in Jigawa State. The…
Global market decline hits Nigerian stocks as traders lose ₦93bn
The Nigerian Equity Market experienced a downturn on the first trading day of the week on Monday mirroring the broader global market decline. This decline resulted in a N93bn loss…
Meta apologises for removing Malaysian PM’s posts on Hamas leader
Tech giant Meta apologised Tuesday for removing social media posts by Malaysian Prime Minister, Anwar Ibrahim, about the assassination of Hamas leader Ismail Haniyeh. The apology came a day after…
Abati makes case for Mele Kyari over Reps’ dismissal request
Dr. Reuben Abati, a veteran journalist and former Senior Adviser on Media and Publicity to former President Goodluck Jonathan, on Monday, dismissed call by a fragment of the House of…
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