The Central Bank of Nigeria’s move to establish the Unclaimed Balances Trust Fund (UBTF) Pool Account, which will see the transfer of balances in dormant accounts and unclaimed balances to its custody, has sparked widespread reactions in various quarters. From seasoned Read more…
UK public spending is on track to go £22 billion ($28 billion) over budget by this year due to Tory financial mismanagement, the new Chancellor of the Exchequer, Rachel Reeves, told parliament on Monday. Reeves took over as finance chief Read more…
The Minister of the Federal Capital Territory, Nyesom Wike, has again called on residents of Abuja to be calm and have patience with the Tinubu administration. Wike spoke on Monday while carrying out an inspection visit to the construction site Read more…
President Bola Tinubu has approved a new directive to promote the trade of crude oil using the local currency. The Federal Inland Revenue Service (FIRS) Chairman, Zacchaeus Adedeji, disclosed this to State House correspondents on Monday after the federal executive Read more…
The Naira yesterday appreciated to N1, 580 per dollar in the parallel market from N1,610 per dollar last week Friday. But, the Naira yesterday depreciated to N1,611.4 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM. Data from FMDQ Read more…
Claim: Speaking during a plenary session at the Red Chamber on Tuesday, Senate President Godswill Akpabio announced that the newly approved minimum wage applies to all workers across both public and private sectors, including maids and other domestic staff. He said, Read more…
President Bola Tinubu was among eminent Nigerians who paid tributes to the late Senator Ifeanyi Ubah, who died yesterday in London.They were unanimous in their description of his demise as not just a huge loss to Anambra State but also Read more…
In a swift response to a viral statement titled ‘Tinubu Speaks’ and credited to President Bola Tinubu, the Presidency has categorically denied authenticity of the document. Presidential spokesman, Ajuri Ngelale, in response to enquires on Saturday, dismissed the viral message Read more…
Dangote Petroleum Refinery is reselling crude oil cargoes from both the United States and Nigeria. Reuters sources indicated that the move, unusual for refineries, stemmed from technical challenges at the refinery. A Dangote executive, asked about the offers and talk in Read more…
Oando Plc has refuted insinuations in some quarters that it has owning interests in an alleged Maltese company. In a regulatory filing at the Nigerian Exchange (NGX), Oando stated that neither the company as an entity nor its executives have Read more…
Following the revelations and intrigues generated by the impasse over crude supply to Dangote Refinery, former presidential candidate of Young Progressive Party (YPP), Prof Kingsley Moghalu, has said Nigeria has little economic prospects in the immediate future. He, however, said the prospects Read more…
Banks have been borrowing from the Central Bank of Nigeria (CBN) to purchase foreign exchange (FX), a practice that has intensified pressure on the Naira and inflation, according to Bismarck Rewane, managing director/CEO of Financial Derivatives Company Limited. Rewane highlighted Read more…