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Economy

Nigeria Imposes Staggering $10 Billion Fine on Binance over ‘Impact on Forex Crisis’

ABUJA, Nigeria - The Nigerian federal government has levied a staggering $10 billion fine against the cryptocurrency trading platform Binance, accusing it of exacerbating...

CBN Clears Entire Foreign Exchange Backlog for Foreign Airlines

ABUJA, Nigeria - The Central Bank of Nigeria, CBN, has achieved a significant milestone in its financial operations by completely settling the foreign exchange...

‘We Can’t Just Fix Nigeria’s Economic Woes’ – CBN Governor Cardoso Declares 

ABUJA, Nigeria - In a candid acknowledgement of the Central Bank of Nigeria's (CBN) limitations, Governor Yemi Cardoso has admitted the bank's inability to...

Dangote, Kaduna, BUA Refineries to Depend on Imported Crude as Oil Theft Continues

ABUJA, Nigeria - The Nigerian National Petroleum Company Limited, NNPCL, is poised to begin the importation of approximately 110,000 barrels of crude oil daily...

Nigeria Awaits Energy Independence: Oil Marketers Hold Off Imports in Anticipation of Local Refining

PORT HARCOURT, Nigeria - Nigerian oil marketers are suspending plans to import Premium Motor Spirit, PMS, commonly known as petrol, as they eagerly await...

Aviation Sector: Beyond Tinubu’s Abu Dhabi Diplomatic Stop-Over, By Reuben Abati [MUST READ]

Next week, he goes off to New York, United States for the United Nations General Assembly (UNGA). When Tinubu returns to Nigeria, before he...

University of Lagos Stands Firm on 400% Fee Hike, Citing Quality and Rising Costs

LAGOS, Nigeria - The University of Lagos, UNILAG, embroiled in a crisis over a substantial fee hike, is not backing down. Vice-Chancellor Prof. Folashade Ogunsola...

Tony Elumelu Denies Speculation He’s Being Tipped as Next Central Bank Governor

LAGOS, Nigeria — Tony Elumelu, the chairman of Heirs Holdings and founder of the Tony Elumelu Foundation, has publicly denied rumors that he is...

Nigeria’s Central Bank Probes $1 Billion Currency Counterfeit Deal

ABUJA, Nigeria — The Central Bank of Nigeria, CBN, has initiated a probe into an alleged currency counterfeiting operation involving a sum of $1...

Naira’s Nosedive: Nigeria’s Currency Hits Rock Bottom Despite Economic Reforms

LAGOS, Nigeria — Nigeria's currency, the Naira, has plunged to the bottom of the African currency rankings, despite a string of economic reforms implemented...

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