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Import duty rises 6% as Nigeria Customs begins application of new exchange rate

Importers and their agents have said that a 5.0 per cent increase is now effected in duty payable on all imports following the implementation of the new exchange rate by the Nigeria Customs Service, NCS.
The Central Bank of Nigeria (CBN) as said that its staff in Jos Branch, on Tuesday averted what would have been another major fire disaster in the country.

Nigeria’s foreign reserves rise to $35.81 billion

Nigeria’s foreign reserves rose by $140.9m from $35.67bn as of September 1 to $35.81bn as of September 17, the latest figures from the Central Bank of Nigeria have shown.

N386/$ new exchange rate not sustainable – BDC operators

The Association of Bureau de Change Operators of Nigeria (ABCON) has declared that the new exchange rate for the operators to sell forex at N386 cannot sustain their operations.
The Central Bank of Nigeria (CBN) as said that its staff in Jos Branch, on Tuesday averted what would have been another major fire disaster in the country.

External reserves reverse negative trend, rises to $35.7 billion

The nation’s external reserves, last week, rose (though slightly) for the first time in 12 weeks, to $35.66 billion.
The Bauchi State chapter of Association of Master Bakers says the rising cost of production of bread might force it to increase the price of the product by 20 per cent.

Master Bakers in Bauchi mull 20% increase in bread price

The Bauchi State chapter of Association of Master Bakers says the rising cost of production of bread might force it to increase the price of the product by 20 per cent.
The Central Bank of Nigeria (CBN) as said that its staff in Jos Branch, on Tuesday averted what would have been another major fire disaster in the country.

Rising inflation: Experts urge central bank to stabilise exchange rate

Financial experts on Tuesday expressed concerns on the country’s rising inflation rate currently at 12.82 per cent, and called for stabilisation of the exchange rate.

Ibrahim Magu ordered my detention for demanding my legal fees – EFCC prosecutor

A former prosecutor with the Economic and Financial Crimes Commission, Godwin Obla (SAN), has alleged that the suspended Acting Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ibrahim Magu, ordered his detention for demanding for his legal fees.
The Central Bank of Nigeria (CBN) as said that its staff in Jos Branch, on Tuesday averted what would have been another major fire disaster in the country.

MAN welcomes CBN’s unification of exchange rates

The Manufacturers Association of Nigeria (MAN) says the unification of the country’s exchange rate is a welcome development that will engender increased investment inflow in the real sector of the economy.
Nigeria Naira

Nigeria’s central bank ‘devalues’ Naira again

The Central Bank of Nigeria on Tuesday adjusted the value of the naira to exchange to the dollar at N381, as parts of measures to converge the nation’s multiple exchange rates and ensure stability.
Vice President Yemi Osinbajo on Wednesday presided over the weekly Federal Executive Council (FEC) meeting at the Presidential Villa, Abuja.

How Nigeria plans to get economy back on track after the pandemic

The pandemic affected the price of oil, the mainstay of Nigeria’s revenue. This led to the reworking of the 2020 budget by the executive arm of government to reflect the current economic realities.
All Progressives Congress (APC) Nigeria

Edo APC leaders vow to replace Governor Obaseki during primaries

Leaders of the All Progressives Congress (APC) in Edo state have vowed to replace the incumbent governor, Mr Godwin Obaseki, during the primary election of the party, saying no amount of blackmail and intimidation would cow them into submission.
All Progressives Congress (APC) national stalwart Asiwaju Bola Ahmed Tinubu, has described as premature, talks about 2023 elections and the successor to President Muhammadu Buhari. To him, those making such calls do not love Nigeria.

Asiwaju Tinubu: How central bank can boost production, investment

To lift the Nigerian economy into prosperity, the Central Bank of Nigeria (CBN) must seize the advantage of the coronavirus pandemic-induced crisis to lower the interest rates with a view to boosting domestic production and investment.
Nigeria Naira

Nigeria ‘devalues’ naira as analysts asses market situation

As the Coronavirus, COVID-19, pandemic continues to take a toll on the Nigerian economy, the Central Bank of Nigeria, CBN, has technically devalued the naira to reflect market conditions as analysts and market operators said they are not surprised.

NERC: Transition to cost-reflective tariff effective 2021 ending

Admist controversies trailing the purported increase in electricity tariff, the Nigerian Electricity Regulatory Commission (NERC) has stated that the transition to cost-reflective tariff will take effect by the of 2021
Kola Ologbondiyan

PDP: N37 billion for National Assembly renovation final straw of APC’s corruption

The Peoples Democratic Party (PDP) on Tuesday, described the N37 billion claimed to be for the renovation of the National Assembly complex as an unpardonable rip-off plot and a last straw of alleged corruption that pervades the President Muhammadu Buhari-led APC administration.
President of the Senate, Ahmad Ibrahim Lawan (left) with the Senate Minority Whip, Senator Philip Tanimu Aduda, during the plenary on Tuesday, November 19, 2019. 3

Senate receives 2020 budget report

The Chairman Senate Committee on Appropriation, Senator Jibrin Barau, on Wednesday laid the report of the 2020 Appropriation Bill before the Senate.
Sporadic protests have broken out in a number of Iranian cities after authorities announced a surprise decision to ration and increase the price of petrol as part of efforts to offset the effect of crippling US sanctions.

12 protesters killed during Iran fuel unrest

NO fewer than 12 people have been killed in Iran since protests against fuel price rises erupted three days ago, officials have said, although reports suggest the number of dead is far higher.

Naira exchanges at N359 to dollar at parallel market

The naira on Monday traded at N358.6 to the dollar at the parallel market in Lagos.

Recent Stories

Britain reopens visa application centers in Nigeria

The United Kingdom High Commission has announced that its center’s across the country has reopened.
Nigeria’s Private Sector led Coalition Against COVID-19, CACOVID, yesterday formally announced the flag-off of a nationwide distribution of multi-billion naira food palliative and other relief items to vulnerable Nigerians.

CACOVID: Looted palliatives awaiting distribution

Most of the looted palliatives in warehouses across the nation were awaiting distribution to over 2 million vulnerable households, the private sector-led Coalition Against COVID (CACOVID) has explained.
Two minors and four other suspects were paraded on Monday by police in Ekiti State in connection with arson attacks on three police stations in the State.

#EndSARS: Police parade two minors, four others for arson

Two minors and four other suspects were paraded on Monday by police in Ekiti State in connection with arson attacks on three police stations in the State.
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#EndSARS: Ekiti panel receiving petitions ahead of November 2 sitting

The Ekiti State Judicial Panel of Inquiry on the Allegations of Human Rights Violations Against the Police, defunct SARS officers and other Persons has commenced its activities with a call on citizens of the State to start submitting petitions ahead of its November 2 inaugural sitting.
The Lekki Concession Company, LCC, has refuted claims that it removed the CCTV’s at Lekki tollgate few hours before the shooting of protesters on Tuesday.

Britain asks Nigerian government to investigate Lekki shooting, bring culprits to book

The British High Commission in Nigeria has asked the Federal Government of Nigeria led by President Muhammadu Buhari to investigate all killings and incidents associated with the #EndSARS protests.