Exchange rate: Why prices of goods will remain high, despite Naira appreciation

•Experts recommend way forward By Nkiruka Nnorom There are indications that prices of goods and services may not come down soon despite the speedy appreciation of Naira against major foreign currencies in recent weeks.... Read more »

Naira depreciates to N1,140/$ in parallel market

By Elizabeth Adegbesan The Naira has depreciated to N1,140 per dollar in the parallel market, from N1,060 per dollar on Thursday. Similarly, the Naira depreciated in the Nigerian Foreign Exchange Market, NAFEM,... Read more »

IMF forecasts Nigeria’s economy drop to fourth largest in Africa

By Olaniyi Apanpa Nigeria’s economy, which ranked as Africa’s largest in 2022, is set to slip to fourth place this year after a series of currency devaluations, International Monetary Fund forecasts show.... Read more »

Meta expands AI services to Nigeria, 11 others

By Justice Okamgba Meta, the company behind Facebook, WhatsApp, and Instagram, has expanded its AI service, “Meta AI,” to 12 countries outside the United States. These countries include Nigeria, Ghana, South Africa,... Read more »

Binance collaborating with Nigeria to resolve official’s detention — CEO

By Yinka Kolawole,  with agency report The CEO of cryptocurrency exchange,   Binance, Richard Teng,   yesterday said that the company is working very closely with Nigerian authorities following the detention of the company’s   Head... Read more »

Nigeria’s FX reserves drop to $32bn, lowest in six years

Nigeria’s foreign reserves fell to $32.29 billion on April 15, the lowest in over six years. According to the latest data from the Central Bank of Nigeria, CBN, the reserves moved from... Read more »

Marketers excited as Dangote slashes diesel price to N1,000/litre

By Okechukwu Nnodim The Dangote Petroleum Refinery has listened to the calls of oil marketers as regards the reduction in the price of Automotive Gas Oil, popularly called diesel. On Tuesday, the... Read more »

JUST IN: NCAA suspends three private jet operators for operating commercial fligh

By Rotimi Agbana The Nigerian Civil Aviation Authority has suspended the permit of three private jet operators for engaging in commercial flights. This was according to a Riot Act on the NCAA’s website... Read more »

Dangote, modular refineries to pay naira for crude

By Okechukwu Nnodim The Federal Government has eventually complied with the demands of domestic crude oil refiners and other operators in the sector, as it declared on Monday that indigenous refineries can now... Read more »

More pressures on pockets as food inflation rises to 40%

•High electricity tariff to drive further rise — Analysts •It’s bad for businesses – NACCIMA •Small businesses to lose capital base— ASBON By Yinka Kolawole, Nkiruka Nnorom & Elizabeth Adegbesan  At the backdrop... Read more »