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CBN restricts BDCs to $25,000 Fx weekly and one dealer bank

The Central Bank of Nigeria (CBN) has introduced new guidelines for Bureau de Change (BDC) operators to regulate the forex market and prevent misuse. To improve transparency, both dealer banks and BDCs must submit reports to the CBN: These reports will help the CBN track forex movements and prevent illegal activities. BDCs can only sell […]

Marketers dumping NNPCL amid price war with Dangote Refinery – IPMAN

The Nigerian fuel market is experiencing a major shift as independent marketers move away from the Nigerian National Petroleum Company Limited (NNPCL) to get better deals elsewhere. This change is happening due to a price war between NNPCL and Dangote Refinery, making fuel marketers rethink their business strategies. The Independent Petroleum Marketers Association of Nigeria […]

Emefiele Opposes Fresh Move By EFCC As Court Adjourns Ruling

In a major move in his ongoing procurement fraud trial, former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has asked the Federal Capital Territory High Court in Abuja to block the Economic and Financial Crimes Commission (EFCC) from introducing additional witnesses. Emefiele’s lawyer, Matthew Burkaa (SAN), argued that the EFCC should not […]

Aba Power suspends power restoration in Ukwa West over persistent vandalism

Aba Power PLC has announced the suspension of electricity restoration in Ukwa West Local Government Area (LGA) due to repeated vandalism. The company stated that despite its efforts to reconnect the area, vandals continue to damage power infrastructure, making it impossible to maintain a stable supply. The company’s Head of Technical, Simeon Akpata, spoke to […]

HIV/Aids: Concerns, fear among people living with disease in north as US halts funding

The recent decision by the U.S. government to halt funding for HIV/AIDS treatment has raised significant concerns among people living with the disease in Northern Nigeria. Haruna Makafin Dala, Secretary of the SafeLife Sustainable and Counseling Initiative in Kano, expressed deep worry about the impact on vulnerable groups, particularly children and the elderly. Makafi, who […]

NiMet forecasts 3-day sunshine, haziness

Dangote Petroleum Refinery has reduced the price of Premium Motor Spirit (PMS), also known as petrol, from N950 to N890 per liter. While this move is great news for consumers, it has created serious financial challenges for fuel marketers who had already purchased petrol at the higher price. The price cut was likely influenced by […]