The Central Bank of Nigeria (CBN) has removed limits placed on trade and payment services transactions on the Pan African Payment and Settlement System (PAPSS). PAPSS is a cross-border, financial market infrastructure enabling payment transactions across Africa. Read also: CBN limits transactions on PAPSS by dealer banks to $200,000 The CBN […]

Some Nigerians who benefited from the Central Bank of Nigeria (CBN) and NIRSAL Microfinance Bank’s targeted credit facility (TCF) have failed to pay N261.07bn out of N419.42bn given out. Daily Trust reports that the facility launched in April 2020 was to cushion the effects of the COVID-19 pandemic on households […]

https://www.youtube.com/watch?v=S9-ScOLawvk?si=fIkCO1w7Z05It9Wh Anybody earning N200K monthly in Nigeria is better than someone that is earning £2000 in the UK – Air Peace boss, Allen Onyeoma (video) Allen Onyeoma, the CEO of Air Peace, has said that those who earn two hundred thousand Naira monthly in Nigeria are better off than those […]

Europe has been exporting refined gas to Africa, including Nigeria, for the past decade. In the last decade they’ve earned approximately $200 BILLION exporting gas to Africa. Today, that lucrative trade they’ve enjoyed is being seriously threatened, with massive job losses and company shutdowns envisaged in Europe. Who is responsible […]

PRESS RELEASE The NNPC Limited wishes to clarify rumours suggesting a price adjustment for Premium Motor Spirit (PMS) and Automotive Gas Oil (Diesel) at its retail stations nationwide. The company asserts that these reports are false and urges Nigerians to disregard them entirely. NNPC Ltd. reaffirms its commitment to sustaining […]

Contrary to the report making the rounds on social media, Bureau De Change operators said there was no truth in reports that the dollar is now selling at N1,000 at parallel market. There have been rending reports on social media that dollar is now selling at N1,000 in Abuja. The […]

Thirty-one state governments owe the Central Bank of Nigeria, CBN, a total of N339.9bn obtained to pay workers’ salaries between 2015 and 2023, a document obtained from the apex bank has revealed. The document also stated that the sub-nationals had yet to pay an outstanding of N339.97bn and a loan default of […]

Kingsley Moghalu, a former deputy governor of the Central Bank of Nigeria, has said that those who want the Naira to be N400 to the Dollar are living in a dream world. Taking to his X account, Moghalu explained that the exchange rate should reflect its market value in reality. […]

*Local currency trades at discount on street market Naira may be on track to regaining N1,300/$ as the dumping of hard currencies warehoused by speculators turns the foreign exchange (FX) into a buyer’s market. The sluggish recovery of the local currency seems to have gained more speed in the past […]

The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC), Mele Kyari, yesterday said that the anticipated public listing of the company’s shares at the stock market as provided for in the Petroleum Industry Act (PIA) will start soon. Kyari told international oil and gas players participating […]