Business
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Cardoso: We Inherited $7 Billion FX Backlog, Anticipates Clearing $2 Billion Balance Soon
Olayemi Cardoso, governor of the Central Bank of Nigeria (CBN), says the country will soon be free of its $7…
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Shell, NNPC, and Partners Finalize Investment Decision for 10-Year Gas Supply to Dangote Fertilizer Plant
The Shell Petroleum Development Company of Nigeria Limited (SPDC) and its joint venture partners comprising the Nigerian National Petroleum Company…
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CBN Clarifies: No Intention to Convert Funds in Domiciliary Accounts to Naira
Nigeria’s central bank has said there was no plan to convert the funds in domiciliary accounts to naira. Media reports…
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CBN Takes Action Against Banks for Withholding $5 Billion Amidst Naira Depreciation
The Central Bank of Nigeria (CBN) hit the nail on the head yesterday. It accused commercial banks of hoarding over…
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Miners Indebted to Federal Government, Owning Over N2 Trillion, Says Minister
The Minister of Solid Minerals Development, Dele Alake, has said that miners and operators in the sector owed the Federal…
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Dollar Surge Forces Shutdown of Abuja, Kano, Lagos Bureaux de Change, Leaving Customers Stranded
Bureau de Change Operators, under the Association of Bureau de Change Operators of Nigeria, have shut down operations over the…
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CBN Directs Banks to Sell Excess Dollars Within 24 Hours
Amid its fresh moves to stabilise the nation’s volatile exchange rate, the Central Bank of Nigeria has ordered Deposit Money…
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