In contrast, the Central Bank of Nigeria (CBN) exchange rates were slightly lower: It’s important to note that the CBN does not recognize the parallel (black) market and advises individuals to conduct foreign exchange transactions through official banking channels. Exchange rates may vary depending on the specific location and Bureau De Change (BDC) operators.
Author archives: Gloria
Fuel Prices May Surge Above N1,000 as NNPC Faces Financial Strain and Import Uncertainty
The cost of Premium Motor Spirit (PMS), commonly known as petrol, may soon exceed N1,000 per litre at filling stations as prices at private depots have surged to between N920 and N950 per litre. This development has sparked fears of an imminent increase in pump prices. Amid the growing concerns, protesters took to the streets […]
Collaborative Efforts in Africa Focus on Health, Agriculture, and Economic Empowerment
African governments, in partnership with the private sector, non-profit organizations, and civil society, are working together to improve health outcomes, enhance agricultural productivity, expand access to digital financial services, and empower women and other marginalized groups by providing greater economic opportunities. The foundation involved in these initiatives is dedicated to helping all individuals lead healthy […]
Doyin Okupe Defends Tinubu’s Victory, Claims All Nigerian Elections Have Been Rigged
Doyin Okupe, former Director-General of the Labour Party’s presidential campaign organization in the 2023 elections, has claimed that all elections in Nigeria have been rigged to some extent. The only exception, according to Okupe, might have been the annulled 1993 election, which was won by the late Chief MKO Abiola. Okupe made these remarks on […]
Police Declare Briton and Nigerian Wanted for Alleged Plot to Overthrow Nigerian Government
The Nigeria Police Force has declared British national Andrew Wynne, also known as Andrew Povich, and Nigerian Lucky Obiyan wanted for allegedly attempting to overthrow the democratically elected government of Nigeria. The police accuse Wynne of building a network of sleeper cells and using a school as a cover to facilitate his plans. Key Points: […]
Nigeria’s Foreign Trade Payments Drop by 57% Amid Forex Crisis
Nigeria’s foreign trade payments, made via Letters of Credit (LCs), have plummeted by 57.04% in the first seven months of 2024, totaling $391.91 million compared to $912.35 million in the same period in 2023. This significant decline, highlighted in the Central Bank of Nigeria’s (CBN) weekly International Payments Data, reflects the ongoing foreign exchange (forex) […]
Dangote Refinery Set to Launch Petrol Sales After Successful Test Run
The Dangote Petroleum Refinery is poised to begin selling Premium Motor Spirit (PMS), commonly known as petrol, following a successful test run of the product, The PUNCH has learned. The 650,000-barrel-per-day refinery is now in the final stages of rolling out its first commercial batch of fuel. Industry insiders have confirmed that the product will […]
FG Arraigns #EndBadGovernance Protesters for Treasonable Felony
On Monday, the Federal Government arraigned 10 #EndBadGovernance protesters before a federal high court in Abuja, charging them with treasonable felony, an offense that carries the death penalty. The protesters, who were arrested in Abuja, Kaduna, Kano, and Gombe, are accused of planning to destabilize Nigeria. The defendants, identified as Michael Tobiloba Adaramoye (aka Lenin), […]
Private Sector Warns FCCPC Against Price Control Measures
The Organized Private Sector (OPS) has cautioned the Federal Competition and Consumers Protection Commission (FCCPC) against attempting to control prices dictated by market forces. This warning comes amid concerns that the FCCPC may be considering measures to regulate prices in response to recent economic challenges. During an interview with Arise TV, representatives from the Nigeria […]
Dele Momodu Criticizes Oshiomhole’s ‘Childless’ Comment on Obaseki
Peoples Democratic Party (PDP) chieftain, Dele Momodu, has expressed his shock and dismay over a recent remark made by Senator Adams Oshiomhole about Edo State Governor Godwin Obaseki and his wife, Betsy. Oshiomhole referred to the couple as childless while responding to a comment made by Mrs. Obaseki. During a PDP campaign event, Betsy Obaseki […]