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Saturday, February 22, 2025

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Naira strengthens to N1,745/$ in parallel market, weakens in NAFEM

The Naira strengthened slightly in the parallel market on Wednesday, rising to N1,745 per dollar, up from N1,755 per dollar the previous day. However, in...

NNPC limits petrol sales from Port Harcourt Refinery to retail outlets

The Nigerian National Petroleum Company Limited (NNPCL) has announced that petroleum products from the Port Harcourt Refinery Company (PHRC) will be exclusively supplied to...

CBN hikes interest rate to 27.5%

The Central Bank of Nigeria (CBN) has increased the Monetary Policy Rate (MPR) from 27.25% to 27.50% to curb rising inflation. This decision was made...

Naira gains value, trades at N1,755/$ in parallel market

The Naira strengthened against the dollar in the parallel market yesterday, appreciating to N1,755 per dollar from N1,770 recorded on Monday. Similarly, in the Nigerian...

Naira falls to N1,745/$ in parallel market, gains in NAFEM

The Naira weakened further in the parallel market, closing at N1,745 per dollar on Thursday, down from N1,740 per dollar recorded on Wednesday. In contrast,...

CAC delists Dunlop, Mitsubishi, Innoson “Vinod”, 80,000 other companies

The Corporate Affairs Commission (CAC) has removed companies from its registry that failed to submit their annual returns for the last decade. Previously, on July...

GenCos suffer N229.6 billion losses as grid instability persists

Nigeria's 21 operational electricity plants on the national grid have reportedly suffered financial losses of approximately N229.6 billion in 2024 due to repeated grid...

Naira gains 0.67% against Dollar at official market

The naira strengthened on Tuesday at the official market, trading at N1,678.93 to the dollar, marking a recovery from a three-day losing streak. According to...

Shehu Sani advocates tax reform, decries VAT inequity among states

Former Senator Shehu Sani has called for support for the proposed tax reform bill, citing the Federal Inland Revenue Service (FIRS) Chairman’s revelation about...

Naira weakens marginally, trades at N1,652.25 per Dollar

On Friday, the naira experienced a slight depreciation at the official market, closing at N1,652.25 against the dollar. Data from the FMDQ Exchange's official trading...

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