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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 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 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.
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.
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 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.
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.
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.
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.
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
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.
The naira on Monday traded at N358.6 to the dollar at the parallel market in Lagos.
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The United Kingdom High Commission has announced that its center’s across the country has reopened.
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.
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 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.
The police authorities on Sunday deployed a helicopter following the looting of warehouses at Idu Industrial Estate, Jabi, Abuja, by suspected hoodlums.
Kwara State Police command has said that it has arrested some of the hoodlums that took part in the looting of public and private property, adding that efforts are on to arrest those on the run.
The Federal Road Safety Corps has lamented that its offices in Abia, Anambra, Delta, Edo, Imo, Lagos, and Enugu were attacked by hoodlums.
The Minister of Youth and Sports Development, Sunday Dare, says President Muhammadu Buhari will speak to Nigerians on the Lekki shootings when he has all the facts on the incident.
In the wake of the recent happenings in the country, popular Nollywood actress, Iyabo Ojo, has vowed to never support, campaign or vote any member of the ruling All Progressives Congress (APC) or its opposition, People’s Democratic Party (PDP) again. Both parties are the major contemporary political parties in Nigeria.