Economy

The Nigerian equity market on Thursday recovered from its three sessions losses, making investors to gain N390 billion.Improved buy interest in the shares of Guaranty Trust Holding Company, GTCO, Zenith Bank, FBN Holdings, NEM…

Below is the story of how Governor Alex Otti was involved in Geometric, both as a private citizen, and as governor.The 181-megawatt Geometric Power plant in the Osisioma Industrial Layout of Aba in Abia State was commissioned on Monday,…

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) on Tuesday increased the Monetary Policy Rate, MPR, by 400 basis points to 22.75 per cent from 18.75 per cent.The apex bank chief, Yemi Cardoso, who chairs the MPC…

The Central Bank of Nigeria (CBN) has announced the sale of foreign exchange to Bureau de Change (BDC) operators in the country.This was disclosed in a memo issued on Tuesday and signed by Hassan Mahmud, the director of Trade and…

Following the free fall of Naira, the Central Bank of Nigeria (CBN) has mandated foreign exchange sellers to Bureau De Change, BDC, of the equivalent of 10,000 dollars and above to declare their forex sources.Director, Financial Policy…

The International Monetary Fund (IMF) has said that the Naira will further depreciate by about 35 percent this year, adding that this could lead to inflation rate peaking at 44 per cent before the monetary policy tightening could bring the…

The federal government on Thursday said it has suspended the exportation of Liquefied Petroleum Gas (LPG), better known as cooking gas in order to address the issue of scarcity and increasing prices in the country.Mr Ekperikpe Ekpo, the…

President Bola Tinubu's administration  has expressed determination to raise at least 10 billion dollars to increase foreign exchange liquidity to stabilise the Naira and grow the economy.Mr Tinubu made this known at the inauguration of…

Nigerian Breweries Plc has recorded a net loss of N106 billion for the year ended 2023, as against N13.93 billion posted in its 2022 financials, indicating 860 per cent loss.Mr Uaboi Agbebaku, Company Secretary, Nigerian Breweries…

The Central Bank of Nigeria has announced an upward review of the Price Verification System from 2.5 per cent to 15 per cent.According to a circular by Hassan Mahmud, director at the trade and exchange department of the CBN, this is in…