Budget deficit has risen to at least N30.58tn in the last seven years. This is according to data from budget implementation reports for the third and fourth quarters of 2015; the four quarters of 2016, 2017, 2018, 2019, 2020; the first three quarters of 2021; and the first four months of 2022. According to […]
Just like they did in Abuja about a week ago, operatives of the Economic and Financial Crimes Commission (EFCC), Lagos Command, have visited some of the hubs of the Bureau De Change (BDC) operators in Lagos on what has been described as a “fact finding mission”. Eye-witnesses who craved anonymity said the operatives were […]
A cross-section of youths from the Northern region, on Wednesday, urged President Muhammadu Buhari to probe the Nigerian National Petroleum Corporation (NNPC) over the shortfall in its remittances to the Central Bank of Nigeria. The youths, under the aegis of the Arewa Consultative Youths Movement, said the probe is a matter of national importance […]
Former President Olusegun Obasanjo, on Tuesday, lamented the high cost of diesel, saying it is taking a toll on his business. Obasanjo, who is a fish farmer, said he has been sweating because of the high cost of diesel. He spoke on Tuesday in Abeokuta, Ogun State, during Southwest fish farmers’ congress held at […]
The naira, on Tuesday, sustained its momentum at the parallel market, appreciating to N665 per dollar a few days after security operatives raided Bureaux De Change (BDC) hub in Abuja. The development represents N30 or 4.3 percent gain compared to the N695 to a dollar on Monday. Currency traders known as Bureaux De Change […]
The presidency has waded into the controversy raging between the Central Bank of Nigeria (CBN) and the Nigeria National Petroleum Corporation Limited (NNPC) over the dwindling fortune of the naira, Daily Trust gathered from reliable sources yesterday. The CBN on Friday blamed the non-remittance of dollars to foreign reserves by NNPC as the reason […]
The naira, on Monday, appreciated against the dollar at the parallel section of the foreign exchange market. Bureaux De Change (BDC) operators, popularly known as ‘abokis’, who spoke to TheCable in Lagos, quoted the naira at N695 to a dollar. The figure represents a gain of N12 or 1.7 percent compared to the N707 […]
There are indications that lack of coordination among top economic management members of the Federal Government is responsible for the deterioration of the nation’s economy, reflected in the persistent naira depreciation and worsening inflationary trend across the country. Inside sources at the office of the Secretary to the Government of the Federation and the Presidency […]
The Association of Bureaux Des Change Operators of Nigeria has urged the Central Bank of Nigeria to float the naira to halt its further depreciation. The President of ABCON, Alhaji Aminu Gwadabe, made the appeal on Saturday in an interview with the News Agency of Nigeria in Lagos. Gwadabe said that the CBN should […]
The Central Bank of Nigeria (CBN) says Nigerians must avoid dealing with speculators in the foreign exchange (FX) market to save the naira from further decline. Osita Nwanisobi, director of the apex bank’s corporate communications, said this in a statement on Friday. The statement comes a few hours after some operatives of the Economic […]
