The International Monetary Fund has said the global economy will slide into a recession that is “at least as bad as during the global financial crisis or worse” this year on the back of the coronavirus pandemic. The Managing Director, IMF, Kristalina Georgieva, in a statement on Monday, said many […]

Agency Reporter Following the raging effect of COVID-19 in country, the Nigerian Stock Exchange (NSE) will effective March 25 temporarily close its trading floors and engage in remote trading.   Mr Oscar Onyema, NSE Chief Executive Officer, said in a statement on Monday in Lagos that the decision became imperative […]

Nigeria has cut the official selling prices for its crude oil to record lows to clear a glut of unsold April-loading cargoes before releasing the May programme on Monday. The country has had to grapple with an unprecedented excess of oil triggered by the coronavirus outbreak and a price war […]

The Executive Secretary of the Petroleum Products Pricing and Regulatory Agency (PPPRA), Mr. Abdulkadir Saidu, thursday disclosed that the pump price of petrol, will henceforth be determined by market forces. He said with PPPRA’s current projection, the current price of N125 will likely stay till the end of this month. […]

Nigerian equities took a major dip on Thursday as renewed selloffs at the stock market cost a N370 billion net loss. Investors scurried to monetise capital gains and rebalance their portfolios after major announcements on increased spread of Coronavirus disease (COVID-19) and introduction of containment measures.   The market had […]

The Federal Inland Revenue Service (FIRS) has unveiled a new Electronic and Automated platform for taxpayers to file transfer pricing declaration and disclosures with a view to block leakage in tax collection in the country. The FIRS made this known in a statement issued by Mr Abdullahi Ahmad, Director, Communications […]

The naira may yet face another hurdle in the international market as international mer­chants on Monday started re­jecting naira debit cards for transactions, Daily Independent reports. A source informed Daily Independent on Monday that some shoppers began to no­tice the trend at the weekend but development became wor­risome on Monday when […]

Mele Kyari, the Group Managing Director of Nigerian National Petroleum Corporation (NNPC) is a thoroughbred professional. He assumed duties on July 7, 2019 after his predecessor, Dr Maikanti Baru held the position for three years. Fortified with decades of cognate experience, Kyari hit the ground running as there was no need […]

THE naira is facing one of its toughest times since 2017, the last time it was devalued. The naira was yesterday exchanging at N414 to dollar in the parallel market during the morning hours but recovered later in the evening to N370 to dollar. However, the local currency remained firm […]

No fewer than 15 microfinance banks commenced operations in the country after getting new licences from the banking regulator between February 13, 2019 and December 2019, findings have revealed. The Central Bank of Nigeria had earlier disclosed that the number of microfinance banks licensed in the country stood at 898 […]