Inflation Rate Hits 17.33%
The consumer price index, which measures the rate of increase in the price of goods and services, increased to 17.33 percent in February. This is the highest point since April…
Petrol Subsidy To Gulp N102.96bn In March
The Nigerian National Petroleum Corporation may spend N102.96bn on petrol subsidy this month, going by the recent pricing template for the commodity. A Federal Government agency, Petroleum Products Pricing Regulatory…
Okonjo-Iweala Arrives Nigeria On Working Visit
The new Director-General of the World Trade Organisation, Dr Ngozi Okonjo-Iweala, on Saturday, arrived in Nigeria on a one-week working visit. Okonjo-Iweala resumed at the Geneva-based WTO on March 1,…
Panic Buying In Lagos, Abuja As Filling Stations Maintain Old Petrol Price
By Our correspondents Many filling stations have not adjusted to the new pump price of petrol despite the new pricing template released by the Petroleum Products Pricing Regulatory Agency (PPPRA).…
CBN Reopens N50bn COVID Loan Portal For Households, Businesses
The Central Bank of Nigeria (CBN) is receiving applications for its N50 billion targeted credit facility (TCF) aimed at supporting households and micro, small and medium enterprises (MSMEs) affected by…
Banks Lose N5bn To Fraudsters In Nine Months – NDIC
The Nigeria Deposit Insurance Corporation (NDIC) yesterday said banks in the country lost over N5 billion to fraudsters between January and September 2020. It said the losses, for only nine…
Crude Oil Price Crosses $70 After Missile Attack On Saudi Arabian Facilities
The price of Brent crude, the grade against which Nigeria’s crude oil is benchmarked, has crossed $70. The US West Texas Intermediate (WTI) was also trading at $66.88 per barrel.…
Crude Oil Hits $68 As Goldman Sachs Projects Prices May Rise To $80 By Q3
The price of Brent crude, against which Nigeria’s crude oil is priced, has risen to $68.03 per barrel following the decision of the Organisation of Petroleum Exporting Countries (OPEC) to…
Northern Traders Agree To Lift Ban On Food Supply To South
The leadership of cattle and foodstuff dealers under the aegis of the Amalgamated Union of Foodstuff and Cattle Dealers of Nigeria (AUFCDN) has agreed to lift its ban on the…
Cryptocurrency Ban Makes Nigerians More Vulnerable To Scams, Luno Says
Cryptocurrency trading platform Luno on Tuesday Central Bank of Nigeria’s (CBN) cryptocurrency trading will expose Nigerians to fraud and exploitation. “Any attempt to restrict access to cryptocurrency does not protect…
