Category: Economy
EFCC Cracks Down on Institutions Demanding Dollar Payments
In a bid to uphold the integrity of Nigeria’s currency and safeguard the local economy, the Economic and Financial Crimes Commission (EFCC) has issued a stern warning to schools, supermarkets, hotels, and other establishments against demanding payment in dollars from their local customers. Ola Olukoyede, the Chairman of the EFCC, delivered the cautionary message in…
President Tinubu Reaffirms Commitment to Private Sector Partnership for Economic Growth
President Bola Tinubu has emphasized the pivotal role of the private sector in driving Nigeria’s economic transformation and prosperity. Speaking during Iftar on Thursday in Abuja with members of the Nigerian business community, President Tinubu expressed gratitude for their support and pledged to foster closer collaboration. Acknowledging the indispensable contribution of the private sector to…
Excitement Builds as Ogun State Hosts International Trade Fair
As anticipation mounts across the Southwest geopolitical zone of Nigeria, stakeholders eagerly prepare for the commencement of the 13th Gateway International Trade Fair in Abeokuta, Ogun State. Scheduled to run from April 19 to 29, 2024, at the M.K.O Abiola International Trade Fair Complex, the event promises increased exhibitors, diverse product offerings, and improved transportation…
Dangote Petroleum Refinery Initiates Diesel Sales, Anticipates Petrol Supply in May
In a move that has led to a drop in diesel prices across the country, Dangote Petroleum Refinery has commenced the sale of diesel at N1,225 per litre. The refinery’s decision to supply diesel to retailers has already resulted in a notable reduction in prices, offering relief to consumers who have been grappling with high…
Federal High Court Sets Date for Formal Charging of Binance Holdings Limited and Executives
The Federal High Court in Abuja has announced a scheduled date for the formal charging of Binance Holdings Limited, a global cryptocurrency exchange platform, along with two of its executives, Tigran Gambaryan and Nadeem Anjarwalla. The court proceedings are set to take place on Thursday before Justice Emeka Nwite. The charges against Binance Holdings Limited…
Dollars Crashed but Food Prices Haven’t – Unraveling the Economic Puzzle
In recent weeks, the Nigerian Naira has witnessed a significant gain against the dollar, trading at around N1250 to a dollar, marking a notable 35% drop from its previous tumultuous period at N1900 in the black market. This commendable appreciation is attributed to the concerted efforts by the Central Bank of Nigeria (CBN), spearheaded by…