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Friday, March 29, 2024

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Manny Akpan | Business & Economy Editor

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Naira Nosedives: Citizens Grapple as Currency Hits All-Time Low Amid New Forex Policies

LAGOS, Nigeria — The Nigerian naira nosedived to an all-time low of N925/$1 on the parallel market, reflecting the unanticipated aftermath of recent adjustments...

Central Bank Blames Unrecorded Diaspora Remittances for Naira’s Rapid Depreciation

ABUJA, Nigeria — The Central Bank of Nigeria, CBN, is pointing the finger at diaspora remittances that bypass the official system, attributing it to...

Nigerian Authorities Uncover Illegal Operators Selling Contaminated Jet Fuel at Airports

LAGOS, Nigeria — The Nigerian Civil Aviation Authority, NCAA, has exposed a scheme involving unapproved Jet A1 marketers operating illegally at Nigeria's airports and...

Amid Fiscal Tensions, Nigerian Senate Presses Tinubu for Auditor-General Appointment

ABUJA, Nigeria - The Nigerian Senate has urged President Bola Tinubu to appoint an Auditor General for the Federation, AuGF, by Section 86 of...

Fuel Subsidy Protest: Tinubu Government Files Contempt Lawsuit Against NLC and TUC

ABUJA, Nigeria – The Federal Government of Nigeria has filed a contempt lawsuit against the Nigeria Labour Congress, NLC, and the Trade Union Congress,...

Organized Labour to Mobilise Nationwide as Federal Government Charges Union Leaders with Contempt of Court

ABUJA, Nigeria — Organized labour in Nigeria has declared that all workers across private and public sectors will attend court proceedings in response to...

Tinubu Slams Buhari’s Fraud-driven Foreign Exchange Regime System as ‘Unfair’

ABUJA, Nigeria — Nigerian President Bola Tinubu on Monday, July 31, 2023, lashed out at the country's previous multiple exchange rate system, describing it...

Forbes: Rupert, Dangote Top Africa’s Richest List, Rabiu and Adenuga Miss Spot in Top 5

LAGOS, Nigeria — Forbes magazine's latest list of the wealthiest individuals in Africa reveals that two of Nigeria's most prosperous entrepreneurs, Abdul Samad Rabiu,...

Billionaire Abdul Rabiu Invests Additional $4.8 Million in BUA Cement

LAGOS, Nigeria - Abdul Samad Rabiu, the chairman of BUA Group, has invested an additional $4.8 million into BUA Cement Plc. As per a recent...

South African Diamond Tycoon Nicky Oppenheimer Rakes in $370 Million in 17 Days

JOHANNESBURG, South Africa - Nicky Oppenheimer, the second richest man in South Africa and third in Africa, has seen his fortune grow by a...

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