Nigeria’s Fuel Subsidy Dilemma Deepens as Debt to Suppliers Soars
Nigeria’s state oil company NNPC faces mounting challenges as its debt to gasoline suppliers has surged to over $6 billion, doubling since April. This financial […]
naira
Central Bank of Nigeria Establishes Minimum Capital Base Requirements for Banks
The Central Bank of Nigeria has introduced revised minimum capital requirements for banks in a move aimed at bolstering their resilience and fortifying the country’s […]
Fuel prices in Nigeria almost triple in two days
Prices at the pump almost tripled at service stations in Nigeria after the new President announced on Monday that he would end fuel subsidies, journalists […]
Nigeria: Supreme Court extends validity of old naira bills
The Supreme Court on Friday extended the validity of old banknotes in Nigeria, invalidating a government directive that has been causing a severe cash shortage […]
Nigerian president to keep small denominations of the old naira in circulation
Nigerian President Muhammadu Buhari on Thursday ordered the continued circulation of low-denomination banknotes, recently replaced by new ones, in order to limit the cash shortage […]
Nigeria’s Electoral Commission confirms that elections will be held
Nigeria’s Electoral Commission (Inec) said Wednesday that the presidential election will be held as scheduled on February 25 despite massive shortages of gasoline and new […]
Banknote shortage in Nigeria: riots break out in the South West
Abeokuta, in southwestern Nigeria, was the scene of scuffles between protesters and police on Tuesday, when a crowd of angry youths attacked a bank facing […]
Police arrest Nigerian man who wanted to sell himself at auction
Islamic police in Nigeria have arrested a man who wanted to sell himself at auction to escape poverty, local authorities said Wednesday. A 26-year-old tailor, […]
Nigeria: the Lagos Stock Exchange records its best performance in the last fifteen years despite the severe recession
It’s Christmas ahead of time at the Lagos Stock Exchange in Nigeria. On Tuesday, October 6, the index of the thirty largest stocks jumped by […]
Buhari presents record $28 billion budget for 2018
Nigerian ailing President Muhammadu Buhari on Tuesday presented a record $28.16 billion budget for 2018 to the National Assembly. Africa’s leading oil producer has been […]