Business

The Naira depreciated against the United States dollar on Friday and traded at N1, 476.24/$1. Data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) showed that the naira lost N6 against the dollar after trading at N1,482.72/$1 compared to N1,476.24/$1 recorded the previous day. The intra-day high and low recorded during the day were N1, 490/$1 and N1, 390/$1 respectively, …

After the government lifted the suspension on Wester Cluster’s Road User Permit recently, the company has outlined its commitment to boost Liberia’s economic revitalization efforts and foster socio-economic development. Monrovia, June 14, 2024: Aligning with President Joseph Nyumah Boakai’s vision to revitalize Liberia’s economy and combat poverty and diseases, Western Cluster Limited (WCL) has committed to contributing to the government’s key growth …

The Governor, Central Bank of Nigeria, Mr. Olayemi Cardoso will tomorrow, November 24, 2023 unveil the Apex Bank’s Monetary Policy Thrust and Economic Outlook for 2024. The event will take place during the 58th Chartered Institute of Bankers of Nigeria Annual Bankers’ Dinner. The apex bank made the announcement via its official X handle on Thursday afternoon. “The Governor, Central …

The value of investments in the Nigerian capital market crashed by N111.7 billion due to sell-offs in Morison and Courtville on Thursday. This indicated that the market capitalization dropped from N37.37 trillion to N37.26 trillion after five hours of trading today. Similarly, the All-Share Index dipped by 204.17 basis points to close at 68,082.11, down from 68,286.28 ASI posted by …

  Africa’s Global Bank, United Bank for Africa (UBA) Plc, is set to organise another edition of the UBA Business Series.  This is in line with the bank’s commitment to support the growth of micro, small and medium-scale enterprises by equipping them with requisite tools to strengthen and sustain their businesses.  The UBA Business Series is a regular seminar/workshop organised by the …

The three tiers of government on Wednesday shared the sum of N906.955 billion as revenue allocation for October. This is contained in a communiqué issued at the end of the Federation Account Allocation Committee (FAAC) meeting in Asaba, Delta State. The distributable revenue comprised statutory revenue of N305.070 billion, Value Added Tax (VAT) revenue of N323.446 billion, and Electronic Money …

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 …