The Nigerian currency, Naira, on Thursday saw a slight depreciation against the United States dollar in the official market, trading at N1,476.24 per dollar. According to data from the FMDQ Exchange, this marks a loss of N2.58 for the Naira, a 0.17% decline from its previous rate of N1,473.66 on Tuesday. READ ALSO :EFCC arrests … Read more
President Bola Tinubu has approved a new investment in the energy sector to the tune of 100 million United States dollars. Permanent Secretary, Federal Ministry of Petroleum Resources, Ambassador Nicholas Ella, who made this known in a statement at the weekend, said the investment is part of efforts to ensure successful hosting of African Energy … Read more
Nigeria’s Dangote Refinery in Lagos is looking to procure millions barrels of United States’ crude oil over the next year to boost its processing rates, Bloomberg reported on Thursday. According to the report, the refinery, spearheaded by Africa’s wealthiest individual, Aliko Dangote, has put out a term tender seeking to purchase two million barrels monthly … Read more
Canada’s financial watchdog, the Financial Transactions and Reports Analysis Centre (FINTRAC), has imposed a $6 million fine on Binance, a prominent cryptocurrency platform, for breaching the nation’s laws on money laundering and terrorist financing. The penalty, valued in Canadian dollars, translates to approximately $4.38 million USD. In a recent statement, FINTRAC revealed that Binance failed … Read more
The Nigerian currency, Naira, depreciated by N130 against the United States dollar at the parallel foreign exchange market on Sunday. A Bureau De Change operator, Mistila Dayyabu, disclosed this in an interview. He noted that Naira dropped to N,1420 per dollar from N1,290 in less than 48 hours at the parallel market. READ ALSO :Naira’s … Read more
Senator Ned Nwoko, has advised the Federal Government and the Central Bank of Nigeria (CBN) against any measures that are capable of artificially forcing the Naira to gain value against dollar and other currencies. Nwoko, who represents Delta North, gave the advice in a statement he personally signed and made available to the News Agency … Read more
The Naira on Thursday resumed its downward trend against the United States dollar, depreciating to N1,309/$ at the official market and N1,420 at the parallel market. The new rate which indicates a depreciation of N90 or 6.8 per cent from N1,330 quoted by currency traders on Wednesday followed renewed dollar demand pressure in the foreign … Read more
The Nigerian currency, Naira, has depreciated to N1,140 per United States dollar in the parallel market, from N1,060 per dollar on Thursday. Similarly, the Naira depreciated in the Nigerian Foreign Exchange Market, NAFEM, to N1,169.99 per dollar. Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,169.99 per dollar from N1,154.98 … Read more
The leadership of the National Union of Electricity Employees, on Sunday demanded a reversal of the recent increase in electricity tariffs. The union, in a statement signed by its National President, Mr. Adebiyi Adeyeye, said the body would not hesitate to withdraw its members that would be used by distribution companies to impose the new … Read more
A US court has ordered an American company to pay BUA International Limited £343,750.91 in arbitral award. The United States District Court for the District of Idaho gave the order to Domtec International LLC, an Idaho-based company specialising in the building of concrete domes. According to court papers obtained by PREMIUM TIMES, Domtec has 21 … Read more