Naira continues free fall, hits N995/$ at parallel market
The naira has plunged further against the dollar at the parallel section of the foreign exchange (FX) market. Bureaux De Change operators (BDCs), who spoke to TheCable on Friday, quoted…
Naira tumbles to 980/dollar, FX shortage worsens
The naira continued its downward trend after exchanging to the dollar at 980/$ at the parallel market on Wednesday. A week earlier, the naira exchanged to the dollar at 950/$.…
Diesel crosses 1k per litre
The retail price of automotive gas oil, also known as diesel, has surged in some filling stations in Lagos and Abuja. With inflation reported at 25 percent, the price hike…
Oil price nears $95 a barrel amid fears of supply deficit
Oil price, on Monday, recorded an upswing to nearly $95 a barrel. Brent crude rose 0.38 percent to $94.30 a barrel by 11.14 WAT, while US West Texas Intermediate crude…
BUA’s Chairman reveals plan to crash cement price from N5,500 to N3,500
BUA Cement Plc. has revealed plans to reduce the price of cement in Nigeria from the current N5,500 to between N3,000 and N3,500. The company’s Chairman, Abdul Samad Rabiu, disclosed…
UPDATED: President Tinubu Nominates New CBN Governor
President Bola Tinubu has nominated Yemi Cardoso as the new governor of Central Bank of Nigeria (CBN). President Bola Tinubu on Friday appointed Dr Olayemi Cardoso as the new Governor…
FG won’t introduce new taxes — Presidential Committee
Chairman of the presidential committee on fiscal policy and tax reforms, Taiwo Oyedele, said no government agency has been stopped from collecting revenue, noting his team’s been mandated to harmonise…
FG delists 37 illegal loan apps [Full List]
The number of delisted loan apps rose from nine to 37, according to the Federal Competition and Consumer Protection Commission’s new report. The number of fully approved loan apps also…
Oil price rises to $92.79 on output cut, may hit $107
The price of Nigeria’s Bonny Light, weekend, rose to $92.79 per barrel, from $90.88 per barrel, recorded last Tuesday as the impact of extended output cuts hit the market. Russia extended…
Naira strengthens, trades at N736/$ at I&E window
The naira, on Thursday, appreciated to N736.62 per dollar at the investors and exporters (I&E) window. The I&E window is the country’s official exchange rate window. The foreign exchange (FX)…
FG targets domiciliary accounts, Diaspora Nigerians’ funds
The administration of President Bola Tinubu is looking to attract funds held in domiciliary accounts and funds held by Nigerians abroad into massive investments in various sectors of the economy.…
Naira weakens to N773.4/$ at I&E window, N905/$ at parallel market
The naira, on Wednesday, depreciated by 0.35 percent to close at N773.4/$ at the investors and exporters (I&E) window. Data from FMDQ Securities Exchange, a platform that oversees foreign exchange…
Naira Loses, Exchanges At N773.42 At Investors, Exporters Window
The naira depreciated against the dollar on Wednesday as it exchanged at N773.42 at the Investors and Exporters window. It lost by 0.35 per cent compared with N770.72 for which…
10 weakest world currencies
A strong currency is mostly associated with a stable economy, low inflation and interest rates. But on the other hand, a weak currency is mostly associated with economic instability, high…
CBN introduces FX price verification system portal for importers
The Central Bank of Nigeria (CBN) has introduced a foreign exchange (FX) price verification system (PVS) portal to enable importers to access forex. The CBN, in a statement on Thursday…