Naira stable at N450/$1 at parallel market

For the first time since eight days ago when the Central Bank of Nigeria (CBN) adjusted the foreign exchange policy, the naira maintained its rate of N450 to a dollar at the parallel market. According to NAN, the pound sterling and ...

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Court awards N530,000 against MTN for unauthorized deductions

The Federal High Court in Ibadan on Wednesday awarded N530,000 to Oluwole Aluko for unathorised deduction from his mobile lines by MTN, Nigeria. In his judgment , Justice Nathaniel Ayo-Emmanuel, held that MTN had admitted guilt by not challenging the ...

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Amaechi to governors: Do not ban okada and tricycles, they “play a vital role in the economy”

Rotimi Amaechi, minister of transportation, has told governors not to ban motorcycles and tricycles because doing so “would affect the nation’s economy negatively”. Speaking on Tuesday in Abuja during the celebration of the national day of Amalgamated Commercial Tricycle and ...

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Naira further regains strength at N425 to a dollar in parallel market

The naira continued to regain strength and appreciate in value in the parallel market on Tuesday as it was sold for N425 to a dollar. However, it was N450 to a dollar at the close of transactions on Monday. A ...

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OPEC loses $1trn to oil price fluctuation

The Organisation of Petroleum Exporting Countries (OPEC) has lost over $1 trillion to fluctuation of oil prices, its Secretary General, Dr Mohammed Barkindo has said. Barkindo disclosed this on Monday while addressing a news conference organised by the Minster of ...

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Naira continues gain against dollar, sells at N450 of $1

The Naira on Monday continued to strengthen against the dollar and other major currencies, the News Agency of Nigeria (NAN) reports. The Nigerian currency gained N10 to exchange at N450 to a dollar at the parallel market, while the Pound ...

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Apart from N300 billion AMCON debt, Arik owes another N25 billion – Official

The Asset Management Corporation of Nigeria, AMCON, on Monday said Arik Air, under its previous management, owed the International Air Transport Association, IATA, $78 million (about N25 billion). Simon Tumba, Media Consultant to Arik Air, gave the figure while speaking ...

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Nokia 3310 officially relaunched, with battery that lasts one month

Nokia on Sunday night re-launched the Nokia 3310 nearly 17 years after its debut. The revamped version will be sold under licence by the Finnish start-up HMD Global, which also unveiled several Nokia-branded Android smartphones. One expert said it was ...

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Ease of Doing Business: Nigeria introduces visa-on-arrival for investors, tourists

As disclosed by the minister of information, Lai Mohammed, the federal government has introduced visa-on-arrival process for foreigners who wish to visit Nigeria for business and tourism purposes. In a statement issued by Segun Adeyemi, media aide of the minister, ...

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141 domestic airlines have gone into extinction in 17 years

The Nigerian Civil Aviation Authority (NCAA) says from 150 airlines in its register when it started operating in 2000, only eight or nine airlines are operating in the country as of now. Sam Adurogboye, NCAA’s general manager, public relations, said ...

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