As of today, August 26, 2024, the exchange rate for the US dollar to the Nigerian naira in the black market is as follows: It’s important to note that these rates are based on transactions in Lagos and might vary slightly depending on the location and the specific Bureau De Change (BDC) operators. Central Bank […]
Category archives: News
Federal Government, Dangote Refinery Discuss September Petrol Rollout
The Federal Government’s committee, established to facilitate the sale of crude oil to local refineries in naira, is set to finalize discussions on the pricing of petrol from the Dangote Petroleum Refinery, scheduled to be released next month. The committee, led by Finance Minister Wale Edun, will focus on setting a benchmark price for the […]
Ex-BBC Editor Soyinka Released After Hours of DSS Detention at Lagos Airport
The Department of State Services (DSS) has released Adejuwon Soyinka, a former editor of the BBC Pidgin Service, after detaining him for several hours at Murtala Muhammed International Airport in Lagos. Soyinka, who is also the West African editor of The Conversation Africa, was arrested upon his arrival from the UK on Sunday morning. The […]
Struggling MSMEs Turn to Phone and Online Orders to Survive Economic Pressures
With the ongoing surge in prices severely impacting profits and capital, many Micro, Small, and Medium Enterprises (MSMEs) in Nigeria are finding innovative ways to stay afloat. Business owners like Mrs. Bolanle Rasheed and Mrs. Marvin Godonou have resorted to using phone calls and online messaging to maintain customer relationships and keep their businesses running. […]
Zimbabwean Bishop Arrested in Nigeria Amid United Methodist Church Leadership Crisis
A Zimbabwean bishop, Eben K. Nhiwatiwa, of the United Methodist Church, has been arrested in Yola, Adamawa State, Nigeria, during a visit aimed at initiating the process of electing a new bishop following the resignation of the former bishop, John Wesley Yohanna. Bishop Nhiwatiwa was reportedly detained by the Nigerian Immigration Service (NIS) and later […]
Okonjo-Iweala Criticizes Nigerian Politicians for Exploiting Insecurity, Calls for an End to the Practice
Ngozi Okonjo-Iweala, Director General of the World Trade Organisation (WTO), has strongly criticized Nigerian politicians for weaponizing insecurity for political gain. Speaking at the Nigerian Bar Association’s 2024 Annual General Conference in Lagos, Okonjo-Iweala emphasized that socioeconomic development is impossible without security and condemned political actors who instigate unrest to undermine their opponents. In her […]
Court Freezes 32 Bank Accounts Linked to #EndBadGovernance Protest, Orders Arrest of Account Holders
A Federal Court in Abuja has frozen the bank accounts of 32 individuals and companies linked to the #EndBadGovernance protest, pending investigation and prosecution. Justice Emeka Nwite ruled in favor of the motion filed by the Inspector-General of Police, Ibrahim Mohammed, directing banks to place a Post-No-Debit order on the accounts and to apprehend any […]
Atiku Demands Explanation from Tinubu Over Nephew’s Fast-Tracked Approval in Oil Asset Acquisition
Former Vice President Atiku Abubakar has called out President Bola Tinubu for allegedly giving his nephew undue advantage in the acquisition of significant oil assets in Nigeria. In a statement released by his Special Assistant on Public Communication, Phrank Shaibu, Atiku questioned why Oando Plc, a company owned by Tinubu’s nephew, received expedited approval to […]
Nigeria Enlists Business Titans Dangote, Otedola, Elumelu to Lead Fight Against Malaria
The Nigerian government has appointed three of the nation’s most prominent business leaders—Aliko Dangote of Dangote Group, Tony Elumelu of Heirs Holdings, and Femi Otedola of Geregu Power Plc—to lead the charge against malaria through the Nigeria End Malaria Council (NEMC). The NEMC, established in 2017 and officially launched by former President Muhammadu Buhari on […]
SERAP Urges Governors, Wike to Disclose Details of Chinese Loans
The Socio-Economic Rights and Accountability Project (SERAP) has called on all 36 state governors and the Minister of the Federal Capital Territory (FCT), Nyesom Wike, to disclose comprehensive details regarding any Chinese loans, liabilities, and other external borrowings obtained and guaranteed by the Federal Government. SERAP also requested information on debt restructuring, loan terms and […]