In the ever-shifting landscape of Nigeria’s financial markets, the Nigerian Exchange (NGX) witnessed a downturn in its equity market on Tuesday, with the All-Share Index dipping by 1.39%. This decline,…
Category: Business
Why I Removed Fuel Subsidy- Tinubu Begs Nigerians For Patience
President Bola Tinubu has shed light on the rationale behind the removal of fuel subsidy, emphasizing the need for transparency and redirecting funds towards critical sectors. Speaking at the seventh…
CBN Reverses Forex Sale To BDC Operators after 3 Years Amidst Economic Concerns
In a turn of events, the Central Bank of Nigeria (CBN) has decided to resume the sale of foreign exchange to Bureau De Change (BDC) operators, aiming to address the…
Naira Gains As CBN Sells $300m To Banks
In a bid to stabilize the fluctuating naira-dollar exchange rate, the Central Bank of Nigeria (CBN) has injected over $300 million into Deposit Money Banks (DMBs) in the past fortnight.…
Forex Crisis Threatens Operations of Nigerian Modular Refineries
Modular refineries in Nigeria are facing a critical challenge due to the ongoing forex crisis, which threatens to halt their operations. These refineries, licensed to refine crude oil, are struggling…
NLC Protest: Presidency Issues Warning, Civil Society Groups Pull Out
The Nigeria Labour Congress (NLC) has faced a stern warning from the Presidency against its scheduled nationwide protest over the rising cost of living. Despite this, the NLC remains resolute…
Investors Lose N67bn As Nigerian Exchange Dips: Market Sentiment Turns Sour
Thursday saw equity investors witnessing a setback as the Nigerian Exchange resumed its descent, resulting in a loss of N67 billion. The All-Share Index slipped by 0.12 percent, closing at…
Cryptocurrency Laundering Declines by 29%-Chainalysis
According to a recent report from Chainalysis, the laundering of money through cryptocurrency exchanges saw a significant drop of 29% in 2023. This revelation, disclosed on Thursday, highlighted a decrease…
Investors Gain N165bn As ASI Appreciates By 0.30%
After enduring a two-day downturn, the Nigerian equity market bounced back into positive territory on Tuesday, infusing investors with renewed optimism. The market saw an influx of N165 billion, marking…
NNPCL Destroys 82 Illegal Refineries In Niger Delta In 1 Week
In a relentless crackdown on oil theft and vandalism, the Nigerian National Petroleum Company Limited (NNPCL) disclosed the obliteration of 82 illegal refineries in the Niger Delta region between February…