Only foreign borrowing can save naira, clear CBN debts – EIU

International business research firm, Economist Intelligence Unit, has said that the Central Bank of Nigeria does not have the liquidity to support the naira as of now. It stated this…

Customs seize 1,464 bags of foodstuffs meant for Benin Republic

The Nigeria Customs Service, Federal Operations Unit, Zone A in Ikeja, Lagos, disclosed that it intercepted three trucks loaded with 1,464 bags of foodstuffs heading to the Republic of Benin.…

FG set to increase oil, gas production with new investment climate —Adviser

The Special Adviser to the President on Energy, Mrs. Olu Verheijen, yesterday said the Tinubu administration opted for fiscal incentives in the oil and gas Sector with a view to…

Deadline on NIN/account linkage: Most banks yet to implement directive

As the deadline given to banks to link all bank accounts to NIN elapsed last Thursday, many banks in the country are yet to implement the directive. Recall that the…

NGX Group’s gross earnings up 57.4% to N11.8 bn

Nigerian Exchange Group Plc has recorded gross earnings of N11.8 billion in its full year results 2023 up by 57.4% from N7.5 billion in in 2022. This growth was attributed…

Naira depreciation worsens Nigeria’s foreign debt woes

Nigeria’s external debt stock (debt owed to foreign entities) has increased by N28tn due to the devaluation of the Nigerian naira against the United States dollar, findings by The PUNCH…

Discos reject 1,769MW of electricity amid widespread blackout

Despite the widespread blackout and the worsening state of electricity supply in Nigeria, the latest figures on the daily load summary of power distribution companies indicate that the firms failed…

Naira falls to N1, 540/$ in parallel market

The Naira on Friday depreciated to N1,540 per dollar in the parallel market from N1,490 per dollar on Thursday. However, the naira appreciated to N1,548.25 per dollar in the Nigerian…

CBN to sell N1.6trn treasury bill in Q2 2024

The Central Bank of Nigeria has said it would sell N1.64trn worth of treasury bills, for the second quarter of 2024. The apex bank made this known in the Treasury…

Confusion over NIN, BVN link to bank accounts

Confusion reigned in the banking industry yesterday as some banks restricted access to bank accounts not linked to the National Identity Number, as directed by the Central Bank of Nigeria,…