The Nigerian National Petroleum Company Limited (NNPC Ltd.), is insisting it has not paid fuel subsidy to anybody in the last nine years. Chief Financial Officer of the company, Alhaji Umar Ajiya made the clarifications on Monday in Abuja. Ajiya said the NNPC Ltd. was only taking care of Premium Motor Spirit (PMS) importation shortfalls […]
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The Nigerian naira depreciated to N1,520 per dollar at the parallel section of the foreign exchange (FX) market on Monday. This is a 3.4 percent decline from the N1,470/$ traded on May 10. The bureau de change (BDC) operators, popularly known as street traders, put the buying price of the dollar at N1,490 and the selling price […]
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Transcorp Hotels PLC, the hospitality subsidiary of Transcorp Group has announced its financial performance for the third quarter of 2023, showing a strong year-on-year growth on all indices. The leading hospitality brand sustained strong growth, recording 31.76% growth in revenue to N29.9bn from N22.7bn the previous year, and significantly higher than pre-covid performance. Profit also grew by 62% to N5.5bn from from N3.4bn. […]
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JP Morgan, an American multinational financial services firm, says the naira is expected to appreciate, and trade at about N600 to the dollar in the coming months. The financial institution made the projection in a statement on Thursday. On Wednesday, the Central Bank of Nigeria announced the unification of all segments of the forex exchange […]
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Following last week’s Supreme Court order approving the use of old N1,000 and N500 and N200 notes as legal tender till December, some Deposit Money Banks have started re-circulating the old notes. However, it was observed that motorists, fuel stations, retailers, traders, and other categories of bank customers rejected the old currencies. The development came […]
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On behalf of the government of Kaduna State, I wish to express my deepest regret at the needless suffering you are enduring.Let us stand up strongly for democracy, peace and national unity. My dear people of Kaduna State, With just about 100 days before leaving office, and elections just round the corner, it was my […]
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NATIONAL BROADCAST BY HIS EXCELLENCY MUHAMMADU BUHARI, PRESIDENT, FEDERAL REPUBLIC OF NIGERIA ON THE CHALLENGES OF THE CURRENCY SWAP AND STATE OF THE NATION, ON 16th FEBRUARY, 2023 My Dear Compatriots,I have found it necessary to address you today, on the state of the nation and to render account on the efforts of our administration […]
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The Supreme Court Wednesday gave an interim order stopping the central bank of Nigeria (CBN) from ending the use of old naira notes from 10 February, the News Agency of Nigera (NAN) reports. A seven-member panel of the Supreme Court led by John Okoro, made the ruling on Wednesday in an ex parte application brought […]
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President Muhammadu Buhari has weighed in on the split between Finance Minister Zainab Ahmed and Central Bank of Nigeria Governor Godwin Emefiele over the redesigning of naira notes. Recall that shortly after the apex bank announced plans to redesign the naira notes, Ms Ahmed, the finance minister, said that her ministry wasn’t consulted before the […]
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The Nigerian naira weakened against the U.S dollar at the parallel market on Wednesday to trade at N560 per dollar on Wednesday. The figure is N15 or 2.8 percent lower than the N545 it traded last week at the parallel market. Meanwhile, the currency which opened trading at an indicative price of N413.82/$1, depreciated by 0.3 […]
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