The naira, on Wednesday, depreciated to N1,300 per dollar at the parallel section of the foreign exchange (FX) market. The current FX rate signifies a 3.17 percent drop from the N1,260 traded on April 22. Currency traders, known as bureau de change (BDC) operators, quoted the buying rate at N1,260 and the selling price […]
EBONYI State Government has said it will float an airline for effective and easy air transportation in the state. The government said it would embark on the airline business after the completion of ongoing asphalting of the runway at Chuba Okadigbo International Airport, Abakiliki. Commissioner for Aviation and Transport Technology, Dr. Ngozi Obichukwu, who […]
The Central Bank of Nigeria (CBN) has denied instructing banks to restrict cryptocurrency accounts. In a post on X on Wednesday, CBN clarified that the circular did not originate from the bank, urging the public to visit its official website for “authentic updates”. According to the circular, all deposit money banks (DMBs), non-bank financial […]
Broadcasting company Multichoice has jacked up the prices of its offerings in Nigeria four months after its last increment. The company reviewed prices in its packages across the board. The new prices will take effect from May 1, 2024. With the latest price hike, the DStv Premium package increased from N29,500 to N37,000. Similarly, […]
The Ministry of Aviation and Aerospace Development has ordered the Nigeria Civil Aviation Authority (NCAA) to suspend Dana Airlines pending an audit of its financial and health audit of the airline. The directive followed the incident involving a Dana Air plane at Lagos airport on April 23, which forced aviation authorities to divert flights […]
The Central Bank of Nigeria has approved the sale of an additional 10,000 dollars to 1,583 eligible Bureaux De Change (BDCs) in the country to meet market demands. The Director, Trade and Exchange Department of the CBN, Dr Hassan Mahmud, made this known in a letter addressed to the President, Association of Bureau De […]
Nascon Allied Industries Plc says its proposed merger with Dangote Sugar Refinery has been suspended. In a statement published on Friday via the Nigerian Exchange Limited (NGX) and signed by A.A. Samuel, Nascon secretary, the merger was not completed due to the current non-operational status of Dangote Rice Limited. “Nascon Allied Industries Plc. (“Nascon”) […]
Oil prices briefly surged and stock markets slid Friday on reports Israel had carried out retaliatory strikes against Iran, boosting investments deemed safer such as gold. Iran’s state media reported explosions in the central province of Isfahan on Friday, as US media quoted officials saying Israel had carried out retaliatory strikes against its […]
The 650,000 barrels per day Dangote Petroleum Refinery is taking advantage of cheaper oil imports from the United States for as much as a third of its feedstock as it starts up production. A report by Bloomberg on Thursday stated that the plant has been shipping products in recent weeks while readying two units […]
Google fired 28 employees following a disruptive sit-down protest over the tech giant’s contract with the Israeli government, a Google spokesperson said Thursday. The Tuesday demonstration was organised by the group “No Tech for Apartheid,” which has long opposed “Project Nimbus,” Google’s joint $1.2 billion contract with Amazon to provide cloud services to the […]
