Parallex Bank Successfully Completes Recapitalisation, Positions For Growth
Parallex Bank Limited has successfully completed its recapitalisation process, surpassing the ₦50 billion capital requirement set for regional commercial banks by the Central Bank of Nigeria. The achievement marks an important step for the bank as it strengthens its financial position. The development places Parallex Bank among the financial institutions that have complied with the […]
IPMAN Urges Federal Government To Slash Crude Oil Costs For Dangote Refinery
The National President of the Independent Petroleum Marketers Association of Nigeria, Abubakar Garima, has urged the Federal Government of Nigeria to reduce the price of crude oil supplied to the Dangote Petroleum Refinery. He said the move could help reduce the rising cost of petrol across the country. Garima explained that petrol prices, also known […]
Again, Dangote Refinery increases petrol price to N1,175, diesel to N1,620
The Dangote Petroleum Refinery has raised the price of Premium Motor Spirit (PMS) to N1,175 per litre, up from N995, marking the third increase in a single week. Diesel prices were also adjusted to N1,620 per litre. The N180 jump in PMS within three days represents an 18.1% increase, reflecting rising costs in the domestic […]
Dollar to Naira exchange rate today, March 9, 2026
The Nigerian Naira opened the week of March 9, 2026, at 1,384.74 per US Dollar in the official Foreign Exchange Market (NFEM), gradually adjusting to 1,391.58 by mid-morning. The slight easing follows last week’s close at 1,398.00, showing moderate volatility as corporate demand rises. In the parallel market, the dollar trades between 1,400 and 1,410, […]
Dangote Refinery commits to energy stability amid global refineries shutdown
Dangote Petroleum Refinery & Petrochemicals has reaffirmed its commitment to ensuring stable energy supply in Nigeria despite global refinery shutdowns and crude supply disruptions. The ongoing Middle East conflict and China’s ban on gasoline and diesel exports have caused shortages and rising crude prices worldwide. The company noted that Nigeria is insulated from these shocks […]
Women-led businesses key to Nigeria’s $1trn economy – FG
The Federal Government has said that women-led businesses will play a major role in Nigeria’s plan to build a one-trillion-dollar economy. Jumoke Oduwole made this known during a high-level colloquium organised by the Federal Ministry of Industry Trade and Investment in Abuja. According to Oduwole, empowering female entrepreneurs will improve access to finance and markets, […]
Naira records second straight week of massive depreciation against US dollar
Nigeria’s currency, the Nigerian Naira, has recorded another week of decline against the United States Dollar in both official and parallel markets. Data released by the Central Bank of Nigeria showed the exchange rate dropped further at the end of the week. According to the figures, the naira closed at N1,393.26 per dollar compared to […]
Recapitalization: CBN gives update as 30 Nigerian banks meet new minimum capital requirements
The Central Bank of Nigeria has announced that 30 Nigerian banks have successfully met the new minimum capital requirements ahead of the March 31, 2026 deadline. The update was shared by the bank’s spokesperson Hakama Ali-Sidi in a statement released on Friday. According to the apex bank, a total of 33 financial institutions have raised […]
Dangote Refinery assures Nigerians of adequate fuel supply despite Middle East crisis
Dangote Petroleum Refinery has assured Nigerians that there will be enough fuel in the country despite the ongoing crisis in the Middle East affecting global oil supply. The company said it will prioritize supplying petrol and other refined products to the local market to protect Nigeria from possible shortages. According to the refinery, the conflict […]
Naira records nine consecutive depreciations against US dollar, sheds N37.85
The Naira has continued its downward trend, recording nine straight days of depreciation against the US dollar at the official exchange market. On Wednesday, it fell to N1,387.09 from N1,384.29 the previous day, losing N2.8 in 24 hours. Since February 23, 2026, the Naira has shed a total of N37.85, marking a significant decline over […]