Business

The Vice-President, Prof Yemi Osinbajo, has said the Federal Government may reopen the land borders soon. The President, Major General Muhammadu Buhari (retd), had in October 2019 ordered the closure of the borders to check the menace of smuggling goods and arms and ammunition into the country and protect local businesses. The closure was, however, […]

The naira exchanged to the dollar at the parallel market at N420/$ on Wednesday, following the interventions made by the Central Bank of Nigeria in the Investors and Exporters window. Prior to CBN’s renewed intervention in the I&E window on Monday, the naira exchanged for as high as N480 to the dollar. Speculators in Nigeria’s […]

The pump price of the Premium Motor Spirit, also known as petrol, appears set to hit N160 per litre as the Nigerian National Petroleum Corporation has increased the price at which it sells the product to marketers from N138.62 per litre to N147.67. The Petroleum Products Marketing Company, a subsidiary of the NNPC, had initially […]

The Central Bank of Nigeria (CBN) has revised timelines for reversals and/or resolution of refund complaints on electronic channels with effect from June 8, 2020. According to a statement issued in Abuja, the apex bank stated that with regards to failed “On-Us” ATM transactions (when customers use their cards on their bank’s ATMs) shall be […]

NIGERIANS WILL PAY A HIGHER TARIFF FOR ELECTRICITY IN 2021, GOING BY PROMISES MADE BY THE FEDERAL GOVERNMENT TO THE INTERNATIONAL MONETARY FUND WHILE SEEKING THE $3.4BILLION EMERGENCY FINANCIAL ASSISTANCE RECENTLY APPROVED FOR NIGERIA. THE EXECUTIVE BOARD OF THE IMF APPROVED THE RAPID FINANCING INSTRUMENT, WHICH THE FEDERAL GOVERNMENT PLANS TO USE TO ADDRESS THE […]

THE PETROLEUM AND NATURAL GAS SENIOR STAFF ASSOCIATION OF NIGERIA (PENGSSAN) HAS ASKED ITS MEMBERS TO SHUT OPERATIONS AND ALL ACTIVITIES AT THE NATION’S OIL RIGS AND EXPORT TERMINALS FROM MIDNIGHT. IT ALSO ORDERED ITS MEMBERS TO WITHDRAW ALL FORMS OF SERVICES RELATING TO CRUDE OIL PRODUCTION, REFINING, DISTRIBUTION AND SUPPLIES. ACCORDING TO THE ASSOCIATION, […]


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