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Governors of 36 states on Wednesday met in Abuja to discuss the latest financial autonomy granted to local councils by the Supreme Court. They also discussed a new national minimum wage of N70,000. Other issues discussed at the meeting were the United Nations General Assembly; State Contribution and Shareholders’ Rights in the Benin Electricity Distribution Company (BEDC). The governors also …

Nigeria’s currency, the naira, fell again on the second day of trading this week against the US dollar on Tuesday, July 23, 2024. The local currency weakened by N48 to trade at N1,548/$1, data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) showed. This is in contrast to the exchange rate of N1,500/$1 traded on Monday, July 22, 2024. The …

Here are the top 10 stories making headlines across the country. 1. NNPC leader, Kyari, denies Dangote’s allegations, legal promises of staff involved in overseas oil refineries Mele Kyari, Chairman of the Nigerian National Petroleum Corporation (NNPC) Group, has strongly denied the allegations made by Aliko Dangote, President of the Dangote Group.Read more 2. Nigerian government to pay minimum wage …

Investors in the Nigerian equity market lost N46 billion at the close of trading on Tuesday. This follows the decline in share prices of stocks such as UPL, JOHN HOLT and OMATEK among others on the trading floor today. After five hours of trading in the capital market, equity capitalization plunged to N56.8 trillion from N56.9 trillion posted by the …

In a bid to curb rising inflation, the Central Bank of Nigeria (CBN) has raised its benchmark interest rate, the Monetary Policy Rate (MPR), to a record high of 26.75%. This is an increase of 150 basis points from the previous rate of 24.75%, which marked the third consecutive increase this year. CBN Governor Olayemi Cardoso announced this after the …

Mele Kyari, Group Chairman of the Nigerian National Petroleum Corporation (NNPC), has strongly denied the allegations made by Aliko Dangote, President of the Dangote Group. In a statement released on Tuesday via his X account, Kyari responded to claims that NNPC staff were setting up a petroleum blending plant in Malta, potentially hampering local production. Kyari has vehemently denied owning …

Claiming:Nigeria loses $50 million to oil theft every week. The indictment: There is no reliable data to support these claims. Full Text: A Facebook user claims that Nigeria is losing $50 million to oil theft every week. The social media user made the claim in response to a new loan from the Nigerian government. Screenshot of claim on Facebook Ripples …

Nigerian currency, naira started the week on a positive note against the US dollar on Monday, July 22, 2024. The local currency plunged by N96 to trade at N1,500/$1, data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) showed. This is in contrast to the exchange rate of N1.596/$1 traded on Friday, July 19, 2024. The intraday high and low …

The equity market started the week on a positive note on Monday, July 22, 2024 as investors earned N16 billion at the end of the trading session. This follows the increase in the prices of stocks such as TANTALIZER, LIVESTOCK and NEIMETH among others on the trading floor. After five hours of trading on the capital market, equity capitalization increased …

President Bola Tinubu has returned to Abuja from Accra, Ghana, where he attended the 6th Mid-Year Coordination Meeting of the African Union. He arrived at the Nnamdi Azikiwe International Airport, Abuja, on Sunday evening. The President was received at the airport by his Chief of Staff, Femi Gbajabiamila, Secretary to the Government of the Federation, George Akume, and other senior …