Imported Goods Face Hike in Prices as CBN Alters Exchange Rate Used by Nigeria Customs Service
The Customs duty payable on imported items at Nigeria's seaports has surged following the Central Bank of Nigeria's (CBN) recent...
Economy
CBN Introduces Disclosure Policy: CBN Directs Staff to Declare Relatives Employed by the Bank and Connections to Politically Exposed Persons
The Central Bank of Nigeria (CBN) has recently issued a directive requiring its staff to disclose any close relatives employed...
Afrinvest Predicts 27.9% Inflation Rate for October 2023 Due to FX Depreciation
Afrinvest West Africa analysts are anticipating a further uptick in Nigeria's headline inflation rate, forecasting a rise to 27.9% for...
Saudi Arabia Vows to Invest in Nigeria’s Refineries and Boost Forex Liquidity
Nigeria is set to receive a substantial boost as Saudi Arabia pledges to invest in the revitalization of the country's...
NLNG Calls on Federal Government to Address Forex and VAT Issues Impacting Cooking Gas Prices
The Nigeria Liquified Natural Gas (NLNG) Ltd. has attributed the increasing cost of cooking gas in Nigeria to the shortage...
Minister Unveils Roadmap to Remove 80% of Unemployed Youths from Streets
The Minister of State for Labour and Employment, Nkeiruka Onyejeocha, has announced plans to launch a comprehensive roadmap aimed at...
Naira Soars to Monthly High at N780.14/$1 as CBN Clears Forex Backlog
In a remarkable turn of events, the Nigerian naira witnessed a substantial appreciation against the US dollar, reaching a new...
CBN Lacks Firepower: EIU Warns of Weakening Naira and Forex Backlog Challenges
In a recent report by the Economist Intelligence Unit (EIU), Nigeria's official exchange rate is anticipated to weaken to N1,068.3...
Federal Government Adjusts Customs Exchange Rate for Import Duties Amid Economic Challenges
The Nigerian government has implemented a significant adjustment in the exchange rate calculations of import duties by the Nigerian Customs...
Saudi Arabia and Nigeria Sign MOU on Energy Cooperation at Economic Conference
Saudi Arabia has entered into a Memorandum of Understanding (MoU) with Nigeria to enhance cooperation in the energy sector. The...
