Business

The naira exchanged for N771.59 to a dollar at the Investors and Exporters window on Wednesday. The local currency lost 3.57 percent compared to the N744.97 it exchanged for the dollar on Tuesday. The open indicative rate closed at N766.67 to the dollar on Wednesday. READ ALSO: At N905/$1, Pastor Adeboye predicts dollar will crash against naira soon A spot …

The naira slumped against the dollar at both the official and parallel markets on Tuesday. The local currency depreciated by 9.73 percent to close at N830.97 to a dollar on Tuesday, data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) showed. This represents an N80.83 loss in the local currency compared to the N750.14 it closed on Monday.  The intraday …

A recent report has shown that the Federal Government has lost an estimated $16tn to natural gas flaring in 10 years. The report by the Energy Institute was released in conjunction with KPMG, KEARNEY and Heriot-Watt University The institute’s 72nd edition of the ‘Statistical Review of World Energy 2023’ said the amount was lost from 2012 to 2022. A breakdown …

The Minister of Aviation and Aerospace Development, Festus Keyamo, said the government will probe the project reports of the suspended national carrier, Nigeria Air, and concession of airports. He stated that the government was looking to uncover red flags relating to the projects before a decision is made following the announcement of the suspension on August 31. Recall that the …

For the second time, the Central Bank of Nigeria (CBN) has postponed its crucial meeting to decide interest rates, The Monetary Policy Committee (MPC) meeting was earlier scheduled to take place on Monday and Tuesday but has now been postponed to an unspecified date. According to the MPC schedule published on the bank’s website, the last time the bank had …

      The Nigerian Exchange Group Plc (NGX Group) is expected to pay its shareholders an interim dividend of 25 kobo per ordinary share of 50 kobo each on Thursday, 31 August 2023.   This comes subsequent to an emergency board meeting convened by the Group last month, during which it affirmed its decision to electronically distribute its inaugural …

The equities market closed in the green last Friday, gaining on four days and declining only on one day thereby driving up sentiments. This week, DEAPCAP, CILEASING, MECURE, OMATEK and NNFM top the lists of stocks to watch this week. Ripples Nigeria stocks watchlist is a selection of stocks monitored for viable trading or investing opportunities. An investor may casually …

The Nigerian National Petroleum Company Limited (NNPCL) has denied widespread reports that it is planning to increase pump price of petrol, otherwise known as Premium Motor Spirit (PMS). Describing the reports as unfounded lies meant to cause panic in the polity, the company urged Nigerians to disregard the rumours as there are no plans whatsoever to increase the price of …

Bigly Oil and Gas, an Internally Generated Revenue (IGR) firm in Anambra State, Saturday, barred its members from smoking cigarettes, hemp, other hard drugs and substances especially while on duty. The firm’s project manager, Mr Chukwuma Nwabuikwu Michael, who disclosed in an interview in Awka, said their agents were barred from drugs and substance abuse in order to improve the …

The naira exchanged for N744.97 to the dollar at the Investors and Exporters window on Tuesday. The local currency gained 0.39 percent compared to the N747.87 it exchanged for the dollar on Monday. The open indicative rate closed at N774.99 to the dollar today. A spot exchange rate of N799.83 to the dollar was the highest rate recorded during the …