BUSINESS
Naira Appreciated To N1,535/$ In Parallel Market
The Naira yesterday depreciated to N1,535 per dollar in the parallel market from N1,525 per dollar on Monday. But the Naira appreciated to N1,485.05 per dollar in the Nigerian Foreign Exchange Market (NFEM). Data published by the Central Bank of Nigeria, CBN, showed that the exchange rate for the naira fell to N1,485.05 per dollar from N1,495 per dollar on...
Naira Depreciates 1.4% Amid CBN’s FX Sales Deadline Extension
At the official market on Monday, the value of the naira dropped, trading at N1,495.60 to the US dollar. Data from the FMDQ Security Exchange official forex trading platform revealed that the naira lost N20.82. This represents a 1.4 percent loss when compared to the previous trading day on Friday, Jan. 31, when the local currency closed trading at N1,474.78 to...
Power Minister Summons Abuja, Ibadan Electricity Distribution Companies Over Poor Supply
The Minister of Power, Chief Adebayo Adelabu, has summoned the chief executives of Abuja Electricity Distribution Company and Ibadan Electricity Distribution Company over the worsening power supply in their regions. Also summoned is the Managing Director, Transmission Company of Nigeria, Sule Abdulazeez, over the deteriorating power situation across the country since January this year. The power supply situation nationwide has gone...
High Cost Of Cooking Gas Angers Enugu Residents
Some residents of Enugu metropolis have criticised the high cost of cooking gas in the state, the News Agency of Nigeria (NAN) reports. A correspondent of NAN, who conducted a market survey on the price of cooking gas in some cooking gas plants and outlets on Wednesday, observed that the prices of the products had increased by 50 per cent. NAN...
CBN Threatens Severe Sanctions Against Banks Hoarding Currency
The Central Bank of Nigeria (CBN) has announced severe penalties for any bank involved in currency hoarding or diversion as part of its commitment to ensuring proper distribution of the nation’s currency. In a circular issued on November 13, 2024, the CBN outlined stringent measures for Deposit Money Banks (DMBs) found to be diverting cash to unauthorised hawkers. Under the new...
Economic Crisis: Group Asks FG Not To Sack Workers
A group is known as The Alliance for Surviving COVID-19 and Beyond (ASCAB) has asked the federal government, FG not to use budget cuts as an excuse to sack workers. The federal government had revised the 2020 budget due to the crash in the price of oil and other effects of the coronavirus pandemic on the economy. In a statement, Adewale...
NLC Carpets World Bank For Advising FG To Sell Petrol N700 Per Litre
The Nigeria Labour Congress (NLC) has condemned the advice by the World Bank to the Federal Government to increase petrol prices to N750 per litre. NLC President, Joe Ajaero said this on Friday in Abuja in a statement, titled: ”World Bank’s N750 per litre for premium motor spirit is a threat to Nigerians economy”. It would be recalled that the World...
Osinbajo Praises Uzodimma Over Oguta/Orashi Dredging
Vice President Yemi Osibanjo has lauded the plan to dredge the Oguta/Orashi river as an economic transformation project, describing the effort as a game changer for the government of Governor Hope Uzodimma and the people of Imo State. He spoke yesterday at Oguta at a ceremony to flag-off the hydro-graphic survey and dredging of Oguta Lake and Orashi River to...
“We’re Robbing Our Children To Pay For Our Greed” — Atiku Tackles FG On Rising Debt
Atiku Abubakar, the former vice-president, has again tackled the federal government on Nigeria’s rising debt profile, accusing it of “squandering the opportunities of future generations”. In an article on Tuesday, the former presidential candidate said the federal government should “drastically” reduce its expenditure to cushion the effect of the country’s high debt. Atiku quoted figures from the medium-term expenditure framework and...
Abia Workers To Receive 13th Month Salary Before Dec 20, Gov. Otti Assures
Governor of Abia State, Alex Otti, has announced plans by his administration to pay both the December and the 13th month salaries to workers before December 20, 2024. Speaking during a critical meeting with leaders of workers’ unions in the state including the Nigeria Labour Congress (NLC), Otti assured that just like he did last year, he will pay the...
![Ohafia Monarchs Reject 'UDUMEZE OF OHAFIA' Title, Insist It's Unrecognized, Misleading [Document Attached]](https://abntv.com.ng/wp-content/uploads/2025/07/FB_IMG_1752179354516-300x194.jpg "Ohafia Monarchs Appeal For Calm, Reaffirm Neutrality In Ohafia Improvement Union Election Process")
![Ohafia Monarchs Reject 'UDUMEZE OF OHAFIA' Title, Insist It's Unrecognized, Misleading [Document Attached]](https://abntv.com.ng/wp-content/uploads/2025/07/FB_IMG_1752179354516-100x75.jpg "Ohafia Monarchs Appeal For Calm, Reaffirm Neutrality In Ohafia Improvement Union Election Process")