CBN to refund capital deposits, licensing fees to Bureaux De Change

The Central Bank of Nigeria has said that it will commence an immediate refund of all outstanding minimum capital deposits and licence fees to Bureaux De Change promoters with the pending licence applications. Starnews Nigeria reports that the apex bank said this in a circular released on Thursday. The action is coming after the apex bank Governor, Godwin

Cooking gas price rises to N500/kg as Dollar appreciates against Naira

Amid high unemployment and poverty levels in Nigeria    The price of Liquefied Petroleum Gas, also known as cooking gas, has skyrocketed to a record high of N500 per kilogramme, forcing some Nigerians to turn to alternatives such as charcoal, kerosene and firewood amid high unemployment and poverty levels in the country. The price of

Yuletide: Air Peace To Roll Out Multiple Flight Schedules

Following the frustration expressed by passengers over inadequate flights ahead of the yuletide festivities, Air Peace on Saturday vowed to deploy more flights in the next few days. It assured customers that it has made adequate preparations to effectively service all its routes during the Christmas season, especially South East and South-South destinations. How Insecurity

By |2020-12-06T13:55:56+01:00December 6th, 2020|Categories: Business|Tags: |0 Comments

Naira weakens further as dollar sells for 478

The naira extended its decline on Wednesday at the parallel market as the United States dollar was sold for N478. The local currency, which traded at N475 per dollar on Tuesday, has come under pressure in recent days. It plunged to N475 on Monday from N470 at which it closed last Friday. In the Investors’

By |2020-11-19T04:07:54+01:00November 19th, 2020|Categories: Business|Tags: |0 Comments

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

By |2020-11-17T05:56:36+01:00November 17th, 2020|Categories: Business|Tags: |0 Comments

FG exempts Dangote from border closure -Report

The Nigerian government has allowed Dangote Cement to resume exports across its land borders, Bloomberg reports. This is despite the closure of all land borders by the government for over one year. The move has, however, raised hopes that Nigeria may be opening up trade with neighbors after a year-long blockade. The regime of the

By |2020-11-10T07:23:44+01:00November 10th, 2020|Categories: Business|Tags: |0 Comments

Oil rises above $70 amid US, Iran face-off

Oil prices surpassed $70 per barrel on Monday for the first time in more than three months as the United States warned of increased threats to energy facilities in the Middle East after the assassination of an Iranian general, Qassem Soleimani, last week. The international oil benchmark, Brent crude, jumped 1.5 per cent to as

By |2020-01-07T11:36:20+01:00January 7th, 2020|Categories: Business|Tags: |0 Comments

Mr Bigg’s rebrands in grand style

In its quest to remain in the hearts and minds of its old and prospective customers, Mr. Bigg’s, Nigeria’s pioneer quick service restaurant (QSR) has commenced what industry watchers have described as a first-of-its-kind revolution in the sector aimed at redefining the brand as well as guarantee improve quality of service. At a guided tour

By |2019-09-15T08:24:55+01:00September 15th, 2019|Categories: Business|Tags: |0 Comments

MTN retires Dozie, five others

Telecoms giant, MTN has announced the retirement of its board chairman, Pascal Dozie and five other non-executive directors from the telco. In a note to the Nigerian Stock Exchange (NSE), it said the investing public and other stakeholders should note that the retirement follows the expiration of their tenure and in compliance with applicable codes

By |2019-07-25T08:02:13+01:00July 25th, 2019|Categories: Business|Tags: , |0 Comments

NNPC to supply 10 per cent of India’s crude oil

Despite competing demands for its crude oil from other countries, the Nigerian National Petroleum Corporation (NNPC) yesterday restated its commitment to sustaining the supply of 10 per cent of India’s crude oil demand. The Corporation’s Group Managing Director (GMD), Mele Kyari, renewed the commitment when he hosted the Indian High Commissioner to Nigeria, Abhay Thakur,

By |2019-07-19T08:16:21+01:00July 19th, 2019|Categories: Business|Tags: , |0 Comments
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