The management of Lekki Deep Seaport has announced the arrival of Rimbaud, the first transshipment vessel to call at the container terminal of the deep seaport.
A statement by the port said that the vessel owned by CMA CGM shipping company, arrived at the terminal on Thursday.
The statement added that the vessel came with cargo from two of the largest container shipping lines in the world, CMA CGM…
President Bola Tinubu Thursday in Lagos said he could have chosen to maintain the multiple foreign exchange systems he met upon assuming office and benefit from it, but instead opted to unify the official and parallel market rates to save the country from financial…
The Federal Government has so far saved about N400bn as a result of the removal of subsidy on Premium Motor Spirit, popularly called petrol, since May 31, 2023, when the initiative was officially implemented, oil marketers stated on Thursday.
Also, the oil dealers stated…
International Monetary Fund to support Nigeria as the Naira is estimated at N663/$
June 17, 2023
The naira traded at 663.04/dollar at the close of business on Friday after a free fall following the Central Bank of Nigeria’s floating of the national currency against the dollar and other global currencies.
This means that the currency appreciated by about 5.9 per cent within 24 hours from the N702.19/dollar recorded at the close of business on Thursday.
According to data from the FMDQ…
The Bank of Industry says its key capital-raising transactions from the international financial market, which fueled its financial performance in 2022, have been recognised with local and international awards.The bank, in a statement, said its total assets had grown by 248…
FG and Oando sign a Memorandum of Understanding to promote access to renewable energy
June 15, 2023
The Federal Government has signed a Memorandum of Understanding with Oando Clean Energy Limited to boost the deployment of sustainable renewable energy access across the country.
Represented by the Rural Electrification Agency, the government announced on Monday that the MoU…
The private sector and economists are supporting the Central Bank of Nigeria as the naira depreciates to 664/$
June 15, 2023
The Central Bank of Nigeria has directed Deposit Money Banks to remove the rate cap on the naira at the official Investors and Exporters’ Window of the foreign exchange market, to allow for a free float of the national currency against the dollar and other global currencies.
This came barely two weeks after President Bola Tinubu promised to unify the nation’s multiple exchange rates, and less…
Barring all unforeseen circumstances, Dangote imported fuel will soon enter Nigerian market as the Nigerian National Petroleum Company Limited (NNPCL ) has granted the Chairman of Dangote Group and President, Dangote Refinery and Petrochemical Company, Alhaji Aliko Dangote…
The Nigerian stock market rose to its highest level since July 2008 on Tuesday, the first day of trading after the suspension of the Central Bank Governor, Godwin Emefiele.
According to a report by Bloomberg, investors are betting on a currency devaluation and sent the main…
The Nigerian Capital Development Fund Group Plc has expressed interest in listing on the Nigerian Exchange Limited.
This was revealed in a letter titled ‘Re: Expression of Interest to List on the Nigerian Exchange Limited’, signed by the Branch Manager, Ibadan Office of the Primary Market Department of the NGX, Ayodeji Soyombo, which was obtained by our correspondent on Monday.
In the letter…