In a milestone celebration, Jimpo Ori, a leading producer of refined shea butter, marks its 10th anniversary with pride and gratitude. Since its inception, the company has been dedicated to delivering premium-quality shea butter products to consumers worldwide, contributing to the empowerment of local communities and the sustainable development...
In a move aimed at bolstering the foreign exchange market, the Central Bank of Nigeria (CBN) has given the nod for the sale of $10,000 to each Bureau De Change (BDC) at the rate of N1,251/$1. This development was communicated through a circular directly addressed to the BDCs by...
The House of Representatives Committee on Financial Crimes has taken decisive action against cryptocurrency exchange platform Binance for its failure to appear before the committee in an investigation hearing. The committee resolved to recommend invoking the House's powers to subpoena and arrest Binance executives following their absence from the...
Alhaji Aliko Dangote, President of Dangote Group, says the Dangote Refinery and Fertiliser projects will come on stream before the end of third quarter of this year.
He said this when Dr. Akinwumi Adesina, President of the African Development Bank (AfDB) led a delegation of the bank to the project...
The collapse in crude oil prices, coupled with the COVID-19 pandemic, is expected to “plunge the Nigerian economy into a severe recession, the worst since the 1980s”, the World Bank said on Thursday.
The World Bank, in a new report, titled ‘Nigeria in times of COVID-19: Laying foundations for a...
The Central Bank of Nigeria (CBN) has released the sum of $265 million to airlines operating in the country to settle outstanding ticket sales in an apparent move to check a brewing crisis in the country’s aviation sector.
A breakdown of the figure released on Friday indicates that the sum...
The World Bank on Friday approved debt relief for the poor and vulnerable member-countries of its International Development Agency (IDA) as the coronavirus pandemic continues to take a devastating toll on the global economy.
The World Bank Group President, David Malpass, announced the debt relief during the Spring 2020 Plenary...
The Dangote Petroleum Refinery in a ground breaking move announced a drastic reduction in diesel prices, plummeting from N1200 to N1000 per litre. This comes after the refinery had already slashed prices from N1600 to N1200 just three weeks ago, marking a significant 30% decrease in market rates.
The refinery's...
The Central Bank of Nigeria (CBN) in a significant move has revoked the licenses of 4,173 Bureaux De Change (BDC) Operators due to their failure to adhere to regulatory provisions. This action comes as the apex bank intensifies efforts to enforce compliance with guidelines aimed at combating financial crimes...
The Nigerian Electricity Regulatory Commission (NERC) has said that in second quarter 2019, international customers owed Nigeria electricity bills totally N11.17billion.
The commission’s second quarter report noted that in the period under review, the customers did not make any payment to the Nigerian Bulk Electricity Trading (NBET) Plc and Market...
