The Nigeria Customs Service, on Sunday, declared that it had intercepted 15 trailers that were fully loaded with food items and were heading out of the country through the Sokoto State border. It said the trailers were stopped and the food items were returned to Nigeria, adding that this was part of measures to stabilise the prices of food items across the country in line with the mandate of the […]
Dollar sales by Deposit Money Banks and other entities at the Nigeria Autonomous Foreign Exchange Market dropped by $252m to $84.1m on Friday. This represents a 74 percent drop from the $331.1m transactions recorded at the official Nigeria Autonomous Foreign Exchange Market on Thursday. Meanwhile, the naira depreciated to N1,537/$ on Friday from N1,498/$ recorded at the close of trading activity on Thursday at the official market. Analysis of data obtained from […]
The Minister of Information and National Orientation, Mohammed Idris, has expressed happiness that more business conglomerates have found Nigeria conducive for investment and beckoned on those already established to spread their tentacles more across the country. He said this will translate to more profits for them and better economic indices for the country. The minister spoke at the opening ceremony of the Bon Octagon Hotel in Jahi Abuja. The minister […]
Tinubu Administration Will Enhance Economic Empowerment Of Artisans- Iyaloja The Iyaloja-General of Nigeria and Chairperson, National Market Council of Nigeria (NAMCON), Dr Folashade Tinubu-Ojo has assured artisans across the country of enhanced economic progress under President Tinubu’s Administration. Dr. Folashade gave the assurance in Abuja when she received in audience, the national leadership of the Building and Construction Artisans Association of Nigeria (BACSAAN), led by its national president, Alhaji Fasasi […]
The naira gained marginally against the United States dollar on Tuesday, appreciating to N1,499/ from an all-time low of N1,534/$ on the official Nigerian Autonomous Foreign Exchange Market. This means the naira gained by 2.3 per cent or N35, according to FMDQ Exchange, a platform that publishes official foreign exchange trading in the country. The naira has depreciated following the removal of fuel subsidy and the unification of the exchange […]
The Federal Capital Territory Internal Revenue Service, FCT-IRS, has extended the deadline of filing of Annual Tax Returns from January 31 to February 29, 2024 for Organisations/ Employers of Labour in the FCT. The Management of FCT-IRS out of its magnanimity, heeded to taxpayers' request for extension. In view of this, the deadline has been extended by one month to enable organisations and employers of labour as well as agents […]
Consumers of bread in Rivers State may have to pay more, as the prices of the staple food will increase from February 7th, 2024. Chairman of the Rivers State chapter of the Master Bakers Association of Nigeria, Dr Chidi Emmanuel, confirmed the price increase while speaking to newsmen after an emergency meeting of the association in Port Harcourt. Dr Emmanuel said the high cost of materials, as well as the […]
The International Air Transport Association, the Geneva-based trade association representing world airlines, has expressed fears that foreign airlines operating in Nigeria, may lose about $200m to exchange rate depreciation. IATA Regional Vice-President for Africa and the Middle East, Kamil Al Awadhi, said the issue of trapped funds was being exacerbated by the depreciation of the naira, which had dropped significantly against the dollar. He spoke in an interview with CNBC […]
The value of foreign exchange transactions recorded on the official Nigeria Autonomous Foreign Exchange Market has risen to $584m, according to data posted on the FMDQ Exchange on Tuesday. This represents a significant increase from the $440m daily transaction previously recorded on the platform. The development came as the national currency weakened against the United States dollar at the official market on Tuesday. It closed at N1433/dollar, compared to N1419/dollar […]
