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The Governor of the Central Bank of Nigeria, Dr Olayemi Cardoso, has flayed the past administrations of the Central Bank of Nigeria (CBN) for straying from its core mandates and dabbling into fiscal policies under the guise of developing financial activities. This is even as the apex bank’s czar disclosed that under the past administrations, there was also a lack …

Investors in the Nigerian equity market earned N962 billion at the close of trading on Friday. This follows a surge in the prices of shares such as UPL, Guinness and Royalex on the stock exchange floor. The benchmark All-Share Index (ASI) increased to 198,407.3 points from 196,908.76 points recorded the previous day. After five hours of trading on the capital …

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Residents of the Federal Capital Territory (FCT) have expressed concern over the increase in transport fares following the recent increase in petrol prices at the pump across the country. The pump price of petrol was previously sold between N835 and N875 in the FCT, now it is sold between N1,200 and N1,350. Following the increase, transport fares increased by approximately …

Nigeria’s currency, the naira, strengthened further against the United States dollar at the official window on Friday. Officially, Central Bank of Nigeria (CBN) foreign exchange data shows that the naira closed at N1,366.23/$1, compared with N1,371.50/$1 on Thursday. This represents a gain of N5.27 for the local currency against the dollar. On the black market, the naira rose N30 against …