The average fare paid by commuters for bus journeys within cities per drop rose by 35.28 per cent from N352.15 in January 2021 to N476.39 in January 2022, according to a report by the National Bureau of Statistics.
The report,...
Nigerian naira weakened against the dollar at the parallel market to trade at N570 amid demand for the currency during the yuletide season.
This is a drop of N5 or 0.9 percent from the N565 it traded last week.
Street traders...
The International Monetary Fund has said some emerging markets and developing economies face immediate and serious risks of currency substitution by crypto assets.
The IMF disclosed this in a report titled, ‘Global Crypto Regulation Should be Comprehensive, Consistent, and Coordinated’...
The naira slide to N575 on Thursday despite assurances by the Central Bank of Nigeria that there is sufficient foreign exchange to meet the legitimate needs of Nigerians.
The naira had maintained a downward trend, falling to 570/$ on Friday...
Nigeria’s local currency, Naira, faced severe pressures last week, forcing it to a record depreciation against the US Dollar in both the parallel market and Investors and Exporters (I&E) window.
This came at the backdrop of the $600 million accretion...
Three years after it issued a debt instrument in the International Capital Market (ICM) with a $2.5 billion aggregate Eurobonds under its Global Medium Term Note Programme, Nigeria has announced plans for another visit to the global market. On...
The Central Bank of Nigeria, CBN, yesterday contradicted the Senate Committee on finance over the apex bank’s remittances to the Consolidated Revenue Fund, CRF, over the past five years.
During an interactive session with revenue generating agencies, the Chairman of...
Africa’s richest man and the President of the Dangote Group, Alhaji Aliko Dangote, yesterday disclosed that the 20 per cent equity taken by the Nigerian National Petroleum Corporation (NNPC) in his much-awaited refinery will not be paid in a...
•IMF urges caution on adoption of cryptocurrency as national currency
Ndubuisi Francis and James Emejo in Abuja
The Central Bank of Nigeria (CBN) yesterday announced the formal engagement of global fintech company, Bitt Inc., as technical partner for its proposed digital...
The Federal Government, FG, revenue performance may still be substantially behind target performance as it recorded a 44.6 per cent shortfall from the projected N3.3 trillion for the period between January to May 2021.
Total expenditure plan for the year...