The Association of Bureaux Des Change Operators of Nigeria (ABCON) says the nation’s currency, Naira, has continued to firm against the Dollar at the parallel market as date for the introduction of new currency notes draw nearer. Alhaji Aminu Gwadabe, President (ABCON), told newsmen on Wednesday in Lagos that there is growing return to sanity […]
Four Federal Government agencies defended their 2023 budget proposals before the Senate Committee on Industries at the Upper Chamber of the National Assembly, on Thursday in Abuja. The NewsZenith reports that the agencies include the Industrial Training Fund (ITF), Bank of Industries (BOI), Standard Organisation of Nigeria (SON) and Small and Medium Enterprises Development Agency […]
The Central Bank of Nigeria (CBN) has advised Nigerian students to use the electronic naira (eNaira) platform to pay school fees and make other payments. Mrs Rakiya Muhammed, the Director of the Information Technology Department at the CBN and Coordinator of Technical Working Committee, eNaira Secretariat, gave the advice during a sensitisation on eNaira at […]
By Our Correspondent The Upper Chamber of the National Assembly, on Tuesday, suspended the consideration of the 2023 budget for the Ministry of Defence due to the inability of the Minister, Bashiru Magashi, to honour its invitation. The NewsZenith reports that the Senate Ad-hoc Committee on the resuscitation of the Nigerian Naval ship, NNS Aradu […]
Saudi Arabian state oil producer Aramco, on Tuesday, posted a 39 per cent jump in its third-quarter net income that beat analysts’ forecasts, boosted by higher crude oil prices and volumes sold. Aramco’s net income rose to $42.4 billion for the three months to Sept. 30 from $30.4 billion a year earlier, it said in […]
Oil prices rose on Tuesday, paring losses from the previous session, as a weaker U.S. dollar offset widening COVID-19 curbs in China that have stoked fears of slowing fuel demand in the world’s second-largest oil consumer. Brent crude for January delivery rose 73 cents, or 0.8 per cent, to $93.54 a barrel at 0406 GMT […]
President Nana Addo Dankwa Akufo-Addo of Ghana has outlined measures to halt the depreciation of the country’s currency, cedi. Akufo-Addo announced these measures in a televised nationwide address, blaming the COVID-19 pandemic and the Russian-Ukrainian conflict for the country’s economic woes. He also blamed currency speculators and unlicensed currency dealers dubbed as “black market operators” […]
The World Bank has approved $275 million in concessional financing targeted at securing support for fiscal stabilisation and accelerated economic growth programs, a senior government official has said. Situmbeko Musokotwane, the Minister of Finance and National Planning said the approval was granted through the World Bank’s International Development Association (IDA) at a meeting of its […]
The Federation Account Allocation Committee (FAAC) has shared a total sum of N760.235 billion September 2022 Federation Account Revenue to the Federal Government, States and Local Government Councils. The figure is contained in a communiqué issued at the end of the FAAC meeting for October 2022. A total of N760.235 billion revenue comprised distributable statutory […]
The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, on Wednesday announced plans by the Apex bank to redesign the N200, N500, and N1,000 notes. Emefiele made the announcement during a special press briefing in Abuja. He said that the redesign would take effect from Thursday, Dec. 15. He also said that existing […]