Mafia Fought Me, Tried To Stop $19 Billion Refinery– Aliko Dangote
Nigerian businessman and founder of Dangote Group, Aliko Dangote, has opened up on many battles he had to fight to complete the $19billion dollars Dangote Petroleum Refinery project located in Lagos. The business mogul, who spoke at the Afreximbank Annual Meetings in the Bahamas on Wednesday, said both local and international criminal organisations in the […]
Binance Will Face All Due Process On Charges – FG
The Minister of Information and National Orientation, Mohammed Idris, has said that due processes are being applied in the ongoing trial of online platform, Binance and one of the firm’s chief executives, Tigran Gambaryan. The minister, in a statement on Wednesday, explained that the defendant has received consular access and all due care, following normal […]
NNPC, ExxonMobil Settle Over $1.2bn Divestment Deal
The Nigerian National Petroleum Company Limited on Thursday announced the signing of a settlement agreement facilitating the divestment of ExxonMobil’s stake in Mobil Producing Nigeria Unlimited to Seplat Energy Plc. This is coming two years after the divestment plan was announced. The NNPCL in a statement, said the agreement involved Mobil Producing Nigeria Unlimited, Mobil […]
Nigeria Remains Leading Oil Producer In Africa, Says Minister Of State For Petroleum
The Minister of State for Petroleum Resources, Heineken Lokbobiri, says Nigeria remains the leading oil and gas producer in Africa, ahead of the likes of Angola and other oil producing countries on the continent. Heineken Lokpobiri, while giving an update on the achievements of his ministry, noted that in the past year, President Tinubu has […]
CBN Raises Interest Rate To 26.25 % Amid Soaring Inflation Levels
The Central Bank of Nigeria (CBN) has increased the interest rate by 150 basis points, from 24.75 percent to 26.25 percent. Following a comprehensive two-day meeting, the bank’s Monetary Policy Committee has made a decisive move, raising the Monetary Policy Rate for the third consecutive time. The CBN chief who admitted the rising inflation levels […]
CBN Launches Strategy To Double Remittances, Grants AIP To 14 New IMTOs
The Central Bank of Nigeria (CBN) has activated plans to double foreign-currency remittance flows through formal channels by granting 14 new International Money Transfer Operators, Approval-in-Principle. This was disclosed in Abuja on Wednesday by the Bank’s Acting Director of Corporate Communications, Mrs. Hakama Sidi Ali. Ali stated that the initiative will help increase the sustained […]
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Minimising Volatility In Forex Market Critical To Ending Naira Fall – Muda Yusuf
An economist, Muda Yusuf, has called for minimising volatility in the foreign exchange market, saying that it fuels speculation and creates an unpredictable environment. Muda Yusuf was reacting to the fluctuation in the foreign exchange market which has seen the Nigerian currency continue to rise and at the same time fall against the American dollar. […]
Sustainable Agriculture: Israel To Boost Partnership With Nigeria
The Israeli Ambassador to Nigeria, Michael Freeman, has expressed his country’s readiness to boost partnership with Nigeria toward ensuring sustainable agriculture in the African country. Michael Freeman, who is also the Permanent Representative of Israel to ECOWAS, made this disclosure in an interview with newsmen on Tuesday in Abuja, on the sidelines of an executive […]
IMF Forecasts 3.3% Growth For Nigeria’s Economy In 2024
In a recent update from the International Monetary Fund, Nigeria’s economic growth forecast for the year 2024 has been adjusted upward to 3.3 per cent. This revision was announced in the IMF’s World Economic Outlook for April, which was released on Tuesday during the 2024 Spring Meetings of the World Bank and IMF in Washington, […]