January 29, 2023
Nigeria: Moodys Downgrades Nigeria Over Rising Debt
Over its expectation that government debt and revenue will continue to deteriorate, global rating firm, Moody's, has downgraded Nigeria's long-term foreign-currency and… Read more »
January 27, 2023
Nigeria: Equinor to Divest $1bn Stake in Nigeria's Agbami Oil Assets
As gale of International Oil Companies(IOCs) divestment from Nigeria deepens, Norwegian energy firm, Equinor has hired Standard Chartered to assist in the sale of its major stake… Read more »
Nigeria: CBN Takes Currency Swap to Akwa Ibom Communities
Determined to ensure effective mop up of the old currency notes (N200, N500 and N1,000) as they cease to become legal tenders on Tuesday, January 31, 2023, the Central Bank of… Read more »
Nigeria: Traders, Beggars Reject Old Naira Notes in Kebbi
Petty traders, motorcyclists, beggars and fuel attendants in Birnin Kebbi, the capital of Kebbi State have joined others in rejecting old naira notes. Read more »
Nigeria: CBN Bans Dollar Payment for Domestic Transactions, Launches 'Afrigo' Card
The Central Bank of Nigeria (CBN) has said it will no longer allow payment for dollar charges on transactions made within Nigeria either with the newly introduced National Domestic… Read more »
January 26, 2023
Nigeria: Nigeria-Niger Republic Rail Project Will Boost Socio-Economic Ties
The federal government of Nigeria has said the Nigeria-Niger Republic rail line will boost trade and other socio-economic interactions between both countries and in the continent. Read more »
Nigeria: Nigeria's Goods Export to UK Now to Enjoy 99% Duty-Free - Envoy
Nigeria will now enjoy duty-free trade on 99 per cent of goods exported to the United Kingdom, the deputy British High Commission in Lagos said yesterday. Read more »
West Africa: ECOWAS Intra-Regional Trade Drops By 10% Due to Payment Glitches
The Economic Community of West African States (ECOWAS), the bloc founded to promote cooperation and economic integration in West Africa has reported a 10 per cent drop in trade… Read more »
Nigeria: Nigeria, Egypt Agree On Joint Electricity Devt
Nigeria and Egypt have signed a Memorandum of Understanding (MoU) to enhance bilateral cooperation in the field of electricity and renewable energy. Read more »
Nigeria: Aviation Workers' Strike Won't Happen Again - Federal Govt
The federal government has tendered an apology to Nigerians over the strike embarked upon by the National Union of Air Transport Employees and Air Transport Services Senior Staff… Read more »
January 25, 2023
Nigeria: Federal Govt Sets Up 14-Man Committee to Manage Petroleum Products Supply, Distribution
In a move to find lasting solution to the disruptions in the supply and distribution of petroleum products in the country, President Muhammadu Buhari has approved the constitution… Read more »
Nigeria: New Naira Notes - NASS Fumes As CBN Insists On January 31 Deadline
Against expectation, the Central Bank of Nigeria (CBN) has said the January 31, 2023 deadline for the higher denominations of old banknotes to cease to function as legal tender… Read more »
January 24, 2023
Nigeria: CBN Insists No Deadline Extension for Old Naira Notes, Increases Interest Rate to 17.5 Percent
The Central Bank of Nigeria (CBN) governor, Godwin Emefiele, has said that the apex bank will not extend the January 31, 2023 deadline for the old version of the redesigned… Read more »
Nigeria: Airlines Count Losses As Airport Workers' Strike Grounds Local, Int'l Flights
Local and international flights were disrupted for several hours yesterday, as staff of ground handling company, Nigerian Aviation Handling Company (NAHCo), grounded flight… Read more »
Nigeria: Lekki Deep Seaport Targets $361bn Revenues, 200,000 Jobs
President Muhammadu Buhari, has finally commissioned the $1.5billion Lekki deep seaport for commercial operation. Read more »
January 23, 2023
Nigeria: International Passengers Stranded At Lagos Airport As Workers Begin Strike
Hundreds of passengers were, on Monday morning, stranded at the Murtala Mohammed International Airport (MMIA), Lagos, as workers of the Nigerian Aviation Handling Company Plc… Read more »
Nigeria: Go After Fuel Saboteurs, Group Tasks DSS, NSCDC
An anti-sabotage organisation under the aegis of The Natives, has tasked security agencies, especially the Department of State Services (DSS) and the Nigeria Security and Civil… Read more »
Nigeria: OPEC Fund Debuts U.S.$1bn SDG Bond for Development Finance
The OPEC Fund for International Development, a development institution established by the Organization of the Petroleum Exporting Countries' member governments, has raised $1… Read more »
Nigeria: Lagos Insists On January 31 Deadline for Employers' Annual Tax Returns
The Lagos State Internal Revenue Service (LIRS) has insisted on January 31, 2023, as the deadline for filing the annual tax returns by employers of labour. Read more »
January 22, 2023
Nigeria: CBN Deadline - Only 4 Out 17 LGAs Have Banks in Yobe, Gov Buni Cries Out
Yobe State governor, Hon. Mai Mala Buni, has appealed to the Central Bank of Nigeria (CBN) to give a special concession and alternatives to the people of Yobe against the backdrop… Read more »
January 23, 2023
Nigeria: Central Bank Takes Naira Sensitisation to Kaduna, Zamfara, Stresses Deadline
The Central Bank of Nigeria (CBN) at the weekend in carried out sensitisation on the redesigned Naira notes to Abubakar Mahmud Gumi central market, Kaduna and Central Market in… Read more »
Nigeria: Largest Container Vessel Berths At Lekki Port Ahead of Commissioning
Ahead of the commissioning of the Lekki Deep Seaport by President Muhammadu Buhari, today, the largest container vessel has berthed at the port. Read more »
January 22, 2023
Nigeria: Naira Exchange Could Negatively Impact 54.2% Unbanked - Report
The Inclusion for all Initiative, a multifaceted advocacy programme, has suggested that Nigeria's most vulnerable groups could be adversely affected by the decision to require the… Read more »
Nigeria: Privare Sector Frowns At Federal Govt Over Lingering Fuel Scarcity
The leadership of Organised Private Sector of Nigeria (OPSN) has described the lingering scarcity of petroleum product as embarrassment and shame of a nation that is blessed with… Read more »
Nigeria: New Naira Notes - Clerics Commend CBN, Charges Bank to Increase Awareness
The Central Bank of Nigeria (CBN) has been commended for taking measures to strengthen the value of the Naira, especially the recent redesigning of the higher-denominations of the… Read more »