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Finance & Economy - Page 206

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

Publish Your Assets Before May 29, SERAP Charges Buhari

Finance & Economy·News

$800m Loan: SERAP Threatens To Sue World Bank, Nigerian Govt

SERAP has called on the World Bank to suspend the issuance of the $800 million loan to the the Nigerian Government, saying that the Buhari administration has no justification for procuring it.

May 15, 2023

Naira Appreciates At Official Market As Dollar Supply Rises On Friday

Business·Currency

Black Market Operators Buy Dollar At N738, Pound N920, As Official Market Rate Drops

The Dollar was offered to traders in the official market at the rate of N462.33/$1 by the close of business on Friday, 12 May. This is lower than the N462.73/$1 investors and exporters bought the United States Dollar last week Thursday, 11

May 15, 2023

Nigeria’s Crude Oil Production Surges To 1.3mbpd

Business·Oil & Gas

OPEC’s Direct, Secondary Sources Disagree Over Africa’s Largest Crude Oil Producer

The Organisation of Petroleum Exporting Countries (OPEC) has revealed that Angola is now the largest crude oil producer in Africa based on direct communications. According to the Monthly Oil Market Report – May 2023, which covers the month of April, obtained from

May 12, 2023

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

Business·Currency

Traders Pay More For Forex As Dollar Rate Rises In Official, Black Markets

The Dollar was sold at N462.73 kobo on the official foreign exchange market and N745/$1 in the black market on Thursday, 11 May. Traders saw the Naira they exchanged for the Dollar depreciate by 0.06 per cent in value, as the price

May 12, 2023

Business·Oil & Gas

Seplat Accuses Petitioners Of Trying To Prevent Board From Eliminating Related Party Transactions

Seplat Energy has accused the persons behind several lawsuits against the firm of trying to stop the oil and gas firm from eliminating related party transactions. The board of Seplat had said this while addressing an alleged interim court order against the

May 12, 2023

Business·Currency

Naira Falls To Dollar, As Exchange Rate Hits N463.02/$1

The official market ended foreign exchange (forex) trading on Wednesday, 10 May, at N463.02/$1, as the Dollar rate increased by N0.77 kobo. This contrasted with the N462.25 kobo/$1 foreign exchange rate FMDQ Exchange reported at the close of trading the previous day. FMDQ

May 11, 2023

CBN Releases Another Around Of $10,000 FX To Each BDC, Mandates Them To Sell At N1,117/$1

Business·Currency

CBN’s RT200 FX Programme Increases Repatriation Of Non-oil Export Proceeds

The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, revealed that the RT200 FX programme has led to an increase in foreign exchange repatriation. Emefiele said the rebate programme attached to the RT200 FX, which offers exporters N65 for every

May 11, 2023

Naira Opens Week With Gain Across FX Markets

Business·Currency

Investors, Exporters Buy Dollar At N462.25, USD Crunch Affect Forex Supply

Traders in the official market exchanged the Naira for Dollar at N462.25 kobo/$1 at the end of the session on Tuesday, 10 May. Although during trading, investors and exporters exchanged the United States currency at a high of N466/$1 and a low

May 10, 2023

Money Supply In Nigeria Rises By N600bn, Currency In Circulation Drops To N2.59trn

Finance & Economy·Opinion

CBN, Bankers’ Committee And The Drive For Non-oil Exports

For many decades now, Nigeria has been desperately trying to diversify its foreign exchange earnings through non-oil exports.

May 10, 2023

Africa·Finance & Economy

AFREXIM Bank: The Next 30 Years – Kingsley Moghalu

Kingsley Moghalu, former Deputy Governor of the Central of Bank of Nigeria (CBN), delivered a lecture at the AFREXIM Bank 30 years anniversary celebration in Cairo

May 9, 2023

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Finance & Economy - Page 206

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

$800m Loan: SERAP Threatens To Sue World Bank, Nigerian Govt

Black Market Operators Buy Dollar At N738, Pound N920, As Official Market Rate Drops

OPEC’s Direct, Secondary Sources Disagree Over Africa’s Largest Crude Oil Producer

Traders Pay More For Forex As Dollar Rate Rises In Official, Black Markets

Seplat Accuses Petitioners Of Trying To Prevent Board From Eliminating Related Party Transactions

Naira Falls To Dollar, As Exchange Rate Hits N463.02/$1

CBN’s RT200 FX Programme Increases Repatriation Of Non-oil Export Proceeds

Investors, Exporters Buy Dollar At N462.25, USD Crunch Affect Forex Supply

CBN, Bankers’ Committee And The Drive For Non-oil Exports

AFREXIM Bank: The Next 30 Years – Kingsley Moghalu

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