BUSINESS
Naira Plunges To 475 As Dollar Demand Rises
The naira weakened further on Monday, trading at 475 to the United States dollar in the parallel market amid a rise in demand for the greenback. The local currency, which has come under pressure in recent days, fell to 470 per dollar on Friday from 468 on Thursday. The naira was trading at 462-463 at the unofficial market at the...
After Insisting That Petrol Import Will Continue, Operators Accuse FG Of Working Against Local Refineries
Some local refinery operators have lamented that the announcement made by the Nigerian Midstream and Downstream Petroleum Regulatory Authority, stating that the Federal Government would continue to import fuel, shows that the government had taken sides against local refineries. The operators, under the aegis of the Crude Oil Refiners Association of Nigeria, expressed worry over the recent widely circulated interview...
Take Advantage Of Nigeria’s Resources For Investment, Buhari Urges International Community
President Muhammadu Buhari on Thursday urged the international community and investors to take advantage of Nigeria’s diversity in human and natural resources for investment. The President also explained that his administration remains committed to youth development, integration and employment. He spoke at a ceremony to receive the Letters of Credence of the Ambassadors of Belgium, Mauritania, Austria and Norway at the...
CBN Takes Traders’ Stimulus Package To Abia
As part of efforts to support Abia Traders, Micro, Small and Medium-scale Businesses as well as Households affected by the COVID-19 pandemic, the Central Bank of Nigeria (CBN), has introduced a stimulus package to this regard. The programme is being implemented through NIRSAL Microfinance Bank. In a release signed by the Special Adviser To Abia State Governor On Strategy & Planning,...
Buhari Set To Unveil Nigeria’s Digital Currency Monday
President Muhammadu Buhari is scheduled to formally unveil the Nigerian Central Bank Digital Currency (CBDC), known as the eNaira, on Monday 25 October 2021, at the State House, Abuja, ABN TV has learned. The launch of the eNaira is a culmination of several years of research work by the Central Bank of Nigeria in advancing the boundaries of payments system in...
List Of Ten African Nations Where Workers Earn Highest Wages [Must Read]
There are several countries in Africa where workers, particularly salaried employees, are well paid. Here’s a look at the top 10 African countries where workers earn the best salaries, as a result of the economic conditions and high demand for skilled labour. Morocco The first on this list is Morocco, with an average salary of $2,031 due to its diversified economy, strong...
NNPCL Considers Handing Over Rehabilitated Port Harcourt Refinery To Private Operators
As the Port Harcourt oil Refinery comes to life, the Nigerian National Petroleum Company Limited has concluded plans to hand over the government refinery to private operators. The NNPCL said it was seeking to engage reputable and credible operations and maintenance companies to operate and maintain the Port Harcourt Refining Company. This, it said, was “to ensure reliability and sustainability towards...
Nothing Will Happen To Your Funds, CBN Assures Depositors
The Central Bank of Nigeria (CBN) has asked Nigerians not to fret over the health status of deposit money banks in the country, saying there is no cause for alarm. On the contrary, the apex insisted that Nigerians banks were stable and trudging on strongly, despite prevailing local and global headwinds and ongoing investigations by a presidential panel. The assurance was...
FG Changes Aviation Ministry’s Name, States Reasons
The Federal Government on Wednesday renamed the Ministry of Aviation to the Ministry of Aviation and Aerospace. The Minister of Aviation, Hadi Sirika said that aviation and aerospace were intertwined and Nigeria had the need to proactively set its policies to align with future occurrences. The Minister made the announcement at the sidelines of the Federal Executive Council meeting presided over...
Food Prices Increasing, Household Incomes Not Steady – NBS
The National Bureau of Statistics (NBS) says prices of most food items increased in November 2020, while income remains unsteady for many households across Nigeria. According to NBS report, titled: ‘Selected food prices watch (November 2020)’, average prices of one dozen of agric eggs (medium size) increased year-on-year (YoY) by 6.64 per cent and month-on-month (MoM) by 1.42 per cent...
