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Thursday, March 28, 2024
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CATEGORY

Economy

Nigeria December Inflation Hit 27-Year High of 28.9%

Nigeria inflation climbed at the fastest annual pace in twenty-seven years in December, as a halt to fuel subsidies stoked transport costs and the...

Naira Gets Support as Afreximbank, UBA Disburses $2.25bn NNPC Oil Prepayment Loan

The African Export-Import Bank (Afreximbank), a pan-African multilateral financial institution, has confirmed the disbursement of an initial $2.25 billion under a syndicated $3.3 billion...

Africa Home to Six of Top-10 Performing Economies Globally in 2024

Six of the top-10 performing economies in the world are forecast to come from Sub-Saharan Africa in 2024, according to the International Monetary Fund. These...

EFCC Summons Dangote Officials To Abuja Over Alleged Forex Infractions

The Economic and Financial Crimes Commission (EFCC) has summoned Dangote Group officials to Abuja for detailed documents on forex transactions spanning nine years. EFCC operatives...

EFCC Operatives Raid Dangote Head Office in Lagos

Operatives of the Economic and Financial Crimes Commission have besieged the Head office of the Dangote Group of Companies in Lagos State. Our correspondent gathered...

Nigeria to Convert Additional $8.2 Billion CBN Overdrafts Into Debt

Nigerian lawmakers approved a request from President Bola Tinubu to convert 7.5 trillion naira ($8.2 billion) in overdrafts from the central bank to longer-dated bonds that...

Nigeria Lifts Ban on Crypto as Banks Can Now facilitate Transactions

The Central Bank of Nigeria (CBN) has lifted the restriction on banks from facilitating crypto transactions. The CBN has also released guidelines for banks and...

Bus Routes Across Nigeria To Get 50% President Tinubu Transport Discount

In the spirit of the 2023 Yuletide season, the President Bola Tinubu administration on Wednesday rolled out programmes aimed at reducing the effect of...

Nigeria’s PH Refinery Commences Operations After Mechanical Completion

…begins with 40,000bpd output Nigeria's 60,000 barrels per day (bpd)old Port Harcourt Refinery has commenced production after the mechanical completion of its long running turn...

FAAC Disburses N1.08trn To FG, States in November

The Federation Account Allocation Committee (FAAC) has shared N1.088.783 trillion November revenue to the Federal Government, States and Local Government Councils (LGCs). This is according to...

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