The Central Bank of Nigeria (CBN) has ordered commerical banks and authorised foreign exchange (forex) dealers to henceforth accept both old series and lower denominations of the US dollars for deposit from customers. In a circular by the CBN’s Director of Currency Operations Department, Ahmed Umar, to all deposit money banks (DMBs), Bureau De Change…
The People’s Democratic Party has asked President Muhammadu Buhari to sack Minister of Finance, Zainab Ahmed for “attempting to mislead Nigerians” over allegations of the federal government printing N50-60 billion to support states’ allocations in March. Recall that while Zainab Ahmed denied claims of the federal government printing money for states to share, Governor of the Central Bank…
Nigeria’s inflation rate rose from 17.33% recorded in February to 18.17% in the month of March. In the latest report released by the National Bureau of Statistics (NBS), the Headline index increased by 1.56% in March 2021, this is 0.02% points higher than the rate recorded in February 2021 (1.54 percent). Food inflation, a closely watched index…
Governor Godwin Obaseki of Edo state has reacted to the federal government’s denial of his earlier claim of printing up to N50-60 billion for state governments to share in the month of March. In a statement shared on his official website, Governor Obaseki said he does not want to join issues with the Federal Ministry…
The Nigerian National Petroleum Corporation (NNPC) has said there will be no increase in the pump price of petrol until it completes its negotiations with organised labour. The group general manager, group public affairs division of NNPC, Kennie Obateru, disclosed this in a statement released on Friday, March 26. This development comes hours after…
Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari has hinted on Premium Motor Spirit also known as Petrol selling between N211 and N234 per litre. Kyari who spoke at the ministerial briefing at the Presidential Villa in Abuja on Thursday March 25, said the NNPC can no longer bear the burden of underpriced sales…
Tesla CEO, Elon Musk has announced that people can now buy Tesla electric vehicles in the U.S. with bitcoin. “You can now buy a Tesla with Bitcoin,” the chief executive – and self-named “Technoking of Tesla” tweeted on Wednesday, March 24. Musk also went on to clarify in another tweet that Tesla will…
Chairman of Cross River state chapter of the Nigeria Labour Congress (NLC), Comrade Ben Ukpekpi has been reportedly kidnapped. Ukpekpi was kidnapped while standing in front of his house at CROSPIL Estate, Akpabuyo, in the outskirt of Calabar with his wife around 8pm on Sunday March 21. It was gathered that they took him through…
Managing Director of Nigeria Ports Authority (NPA), Hadiza Bala Usman has announced that export cargoes have been barred from Lagos ports for two weeks. Speaking in an interview on Radio Now 95.3 FM, Hadiza said the new directive which became necessary to preventing parking on port access roads, is effective from Monday March 22. She said;…
The Minister of States for Petroleum, Timipre Sylva has rejected the increase in the price of petrol as announced earlier by the Petroleum Products Pricing Agency (PPPRA). Recall that after the Nigerian National Petroleum Corporation restated that the price of petrol has not been increased following an outcry the report incited, the PPPRA deleted the post from its…
