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Finance & Economy - Page 199

Tinubu Signs Executive Order Redirecting Oil, Gas Revenues to Federation Account

President Tinubu has signed an Executive Order mandating the direct remittance of oil and gas revenues to the Federation Account, in a sweeping fiscal move that alters key revenue-retention provisions under the Petroleum Industry Act (PIA), Prime Business Africa reports. The order,

February 19, 2026

Breaking: CBN Raises Interest Rate To 18.75%

Business·Currency

CBN To End RT200 FX, Naira4Dollar Schemes After Black Market And Official Rates’ Gap Fall By N192

The RT200 FX Programme and the Naira4Dollar scheme will be phased out by the Central Bank of Nigeria (CBN) following the apex bank’s decision to unify the multiple exchange rates. According to the CBN in a statement on Wednesday, the financial regulator

June 15, 2023

Naira Opens Week With Gain Across FX Markets

Business·Currency

Black Market And Official Dollar Rates’ Gap Drop By 66% To N96

On Wednesday, foreign exchange investors and exporters in the official and black markets saw the gap between both markets’ dollar rates shrink by 66.6%. This represents a reduction of N192.37, as the gap reduced from N288.63 kobo recorded on Tuesday, to N96.26

June 15, 2023

Business·Finance & Economy·News

Naira Float: 40% Of Nigerian Banks May Raise New Equity Capital

Indications are rife that, given the Central Bank of Nigeria’s decision to float the Naira, many Nigerian banks will soon raise new equity capital to shore up their capital base, while those with positive net FX exposure will book exchange rate gains

June 14, 2023

Naira Ends Week With Marginal Gain Against Dollar

Business·Currency

Updated: CBN Officially Devalues Naira, Dollar Sells At N664

The Central Bank of Nigeria (CBN) has finally devalued the naira, Prime Business Africa gathered from FMDQ Exchange on Wednesday night. According to FMDQ Exchange, which is the official market foreign exchange aggregator, the dollar closed at N664.04/$1. The dollar rate was

June 14, 2023

Business·Currency·News

10 Gains Of CBN’s Exchange Rate Unification – CPPE

The Centre for the Promotion of Private Enterprise (CPPE) says it welcomes the bold step taken by the Tinubu administration to unify the naira exchange rate and unlock the huge potentials for investment, jobs and capital flows. According to Dr Muda Yusuf,

June 14, 2023

Naira Gains More As Exchange Rate Drops To N1,300/$1 At Official Market

Business·Currency

CBN Devalues Naira, Orders Banks To Sell Dollar, Others At Market Determined Rates

The Central Bank of Nigeria (CBN) has reportedly directed Deposit Money Banks (DMBs) to sell dollars, euros and pounds at market-determined rates. According to a report by Nairametrics, the CBN has decided to allow Nigeria’s foreign exchange markets to operate a freely

June 14, 2023

Business·Currency

Forex Traders Drop Prices Of Dollar, Pound, Euro In Official Window, Black Market

In the official window and the black market on Tuesday, the naira appreciated in value, as the rates of the dollar, pound and euro fell. According to FMDQ Exchange, at the end of trading, the dollar rate settled at N471.67, dropping slightly

June 14, 2023

Seplat Shareholders Demand Sack Of CEO, Board Amid Legal Fees Controversy

Business·Oil & Gas

FG Lifts Ban On Seplat CEO, Roger Brown, Returns Visa, Work Permits

Seplat Chief Executive Officer, Roger Brown, has been allowed to return to Nigeria after the Federal Government returned his seized visa and work permits. Brown’s work permit, Combined Expatriate Residence Permit and Aliens Card (CERPAC) and other visas for entry or stay

June 13, 2023

Naira Appreciates To N869/$1 As Experts Debate Stability

Business·Currency

FX Dealers Increase Dollar Rate In Official Channel, USD Trades At N754.5 In Black Market

The official market on Friday, 9 June, recorded a 0.6% decline in the value of the naira, as the dollar rate was up by N3, according to the FMDQ Exchange, the official foreign exchange rate aggregator. It was gathered that the investors

June 12, 2023

Business·Oil & Gas

Fuel Subsidy Removal: Allow Private Investors To Set Up Modular Refineries – Utomi Urges FG

As reactions continue to trail the announcement of fuel subsidy removal by President Bola Tinubu, a Professor of Political Economy, Pat Utomi, has advised the Federal Government to grant licences to private investors to set up modular refineries. Prof. Utomi, who stated

June 12, 2023

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Finance & Economy - Page 199

Tinubu Signs Executive Order Redirecting Oil, Gas Revenues to Federation Account

CBN To End RT200 FX, Naira4Dollar Schemes After Black Market And Official Rates’ Gap Fall By N192

Black Market And Official Dollar Rates’ Gap Drop By 66% To N96

Naira Float: 40% Of Nigerian Banks May Raise New Equity Capital

Updated: CBN Officially Devalues Naira, Dollar Sells At N664

10 Gains Of CBN’s Exchange Rate Unification – CPPE

CBN Devalues Naira, Orders Banks To Sell Dollar, Others At Market Determined Rates

Forex Traders Drop Prices Of Dollar, Pound, Euro In Official Window, Black Market

FG Lifts Ban On Seplat CEO, Roger Brown, Returns Visa, Work Permits

FX Dealers Increase Dollar Rate In Official Channel, USD Trades At N754.5 In Black Market

Fuel Subsidy Removal: Allow Private Investors To Set Up Modular Refineries – Utomi Urges FG

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