24hrs News & Updates
The naira maintained its downward trend against the dollar as it traded for 876/$ at the parallel market on Sunday. Some Bureau de Change operators, who spoke to News-men, said the local currency had earlier exchanged to the dollar at 820 a week earlier. Since the unification of the exchange rates in the country by…
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria will hold its first meeting since President Bola Tinubu assumed office and issues in the foreign exchange market, particularly the recent floating of the naira, high benchmark interest rate, removal of petrol subsidy, and rising inflation are expected to shape discussions. The MPC’s two-day…
Read More “I&E Window, Black Market Rates Disparity Widens As Dollar Shortage persists” »
Nigerians were jolted on Tuesday following a further increase in the pump price of Premium Motor Spirit, PMS, popularly known as petrol. Several news media reports that anger and condemnations poured in from across the country, with the citizens describing the decision as insensitive. Even though the subsidy regime covered the month of June, oil…
Read More “Fuel price: NLC, NUJ, Others Boil In Anger, Frustration Spread Nationwide” »
There are Suppositions that have emerged that Senate President Godswill Akpabio and other senators, allegedly padded President Bola Tinubu’s palliative budget with over N200 billion. SaharaReporters, reported that the Senate President and some of his colleagues allegedly took advantage of the amendment of the 2022 Supplementary Appropriation Act to pad the budget by over N200…
Read More “Tinubu’s Palliative: Lawmakers Allegedly Pad Budget With Over N200 Billion.” »
Reactions continue to trail the Federal Government’s N8000 per household palliative.The Nigeria Labour Congress, NLC, and its counterpart, the Trade Union Congress of Nigeria, TUC, faulted President Tinubu’s plans, saying it runs contrary to the works of the Presidential Technical Committee on the removal of Subsidy. NLC and TUC argue that it is not only…
Read More “NLC, TUC kick, Experts Unimpressed By N8000 Palliatives Plans” »
Following increasing demand for the dollar on the parallel market, sometimes known as the black market, the naira fell on Tuesday to N800 per dollar, its lowest level in nine months. Comparing this to N795, which was the price of one dollar stated during Tuesday’s intraday trade, the value of the naira has decreased by…
Delivering judgment in an epic FOI suit, a Federal High Court sitting in Abuja, has ordered the disclosure of the spending details of about USD$5 billion Abacha loot by the governments of former presidents Olusegun Obasanjo, Umaru Musa Yar’Adua, Goodluck Jonathan and Muhammadu Buhari.” The judgment was delivered by Justice James Kolawole Omotosho in a…
The naira on Thursday depreciated to N762.63 per dollar in the Investors and Exporters (I&E) window. Available data showed that the exchange rate for the window rose to N762.63 per dollar from N742.31per dollar on Wednesday, indicating N26.13 depreciation for the naira. In the parallel market the naira depreciated by N5. Findings from black market…
The Central Bank of Nigeria has reacted to the recent announcement of a hike in rate charged by Point of Sale operators in Nigeria. On Friday June 30, the PRO, AMMBAN, Lagos Chapter, Stephen Adeoye, declared on Channels Television’s Business Morning programme, that the association has come up with a new price list for PoS…
Read More “PoS Operators Hike Withdrawal Rates In Defiance Of CBN Directives” »
The National Agency for Food and Drugs Administration and Control(NAFDAC) has urged the consuming public to disregard the claim that semolina contains plastic materials adding that scientific analysis of the food product showed that a woman’s claim in a trending video is not true. The Director General of NAFDAC, Prof Mojisola Adeyeye in a statement…
Read More “Disregard Video claiming semolina contains plastic materials — NAFDAC” »