Naira to appreciate, settle at N600/$1 in coming months, says JP Morgan
JP Morgan, an American multinational financial services firm, says the naira is expected to appreciate, and trade at about N600 to the dollar in the coming months. The financial institution made the projection in a statement on Thursday. On Wednesday, the Central Bank of Nigeria announced the unification of all segments of […]
I was betrayed, says Yari on senate president election
Abdulaziz Yari, senator representing Zamfara west, says he was betrayed during the election that produced Godswill Akpabio as president of the senate. Yari, who vied for the office of senate president, polled 46 votes, while Akpabio secured 63 votes to win the election. The former governor had gone against the dictates of […]
Newspaper Headlines: FG vows to prosecute operators of boat involved in death of 100 persons
Reports on the appointment of eight senior advisers by President Bola Tinubu and other economic issues, dominate the front pages of Nigerian newspapers. Source: Top Stories
Subsidy: NEC sets up committee to consider N702bn as living allowance for civil servants
The national economic council (NEC) has set up a committee to review recommendations by the National Salaries and Wages Commission to cushion the impact of the removal of the petrol subsidy. On Thursday, the NEC at its first meeting presided over by Vice President Kashim Shettima, said the committee should review the N702 […]
CBN removes N463/$ from website, quotes I&E window’s N632.77
The Central Bank of Nigeria (CBN) has removed the old naira-to-dollar rate from its website, quoting new rates from the investors and exporters (I&E) window. As of June 15, 2023, the bank quoted N632.77 per dollar from the I&E window, stating this as the rate “as at Wednesday, June 14, 2023”. According […]
CLOSE-UP: Energy expert, prominent banker… meet Tinubu’s special advisers
President Bola Tinubu, on Thursday, appointed eight special advisers, less than two weeks after he appointed Femi Gbajabiamila, chief of staff, and George Akume, secretary to the government of the federation. The list of the new appointees announced a few hours ago include Dele Alake, special adviser on special duties, communications and strategy; […]
Abbas: Political stability should be prioritised to attract foreign investments
Tajudeen Abbas, speaker of the house of representatives, says President Bola Tinubu’s administration needs to prioritise political stability to achieve desired development in the country. Abbas spoke on Thursday at a lecture organised by the National Institute of Democratic and Legislative Studies (NILDS) to mark the 2023 Democracy Day. Abbas, who was represented by […]
NAF: Those claiming civilians were killed in Nasarawa airstrike should provide evidence
The Nigerian Air Force (NAF) has again denied allegations that the airstrike on January 24 in Kwateri community, Nasarawa state, struck civilians. Ayodele Famuyiwa, NAF’s director of public relations and information, on Thursday, said any organisation or individual with evidence to prove that those killed in the airstrike were not terrorists, should come forward. […]
Naira hits 791/$, closes at 702/$ — 24 hours after float
The Nigerian naira traded as high as 790 to the dollar at the investors and exporters (I&E) window on Thursday — about 24 hours after the float of the local currency. However, the naira appreciated after hitting a record low at the FMDQ trading platform to close at 702 to the dollar. […]
Naira float: Dangote, Abdulsamad Rabiu lost $5.85bn, say Bloomberg index
Aliko Dangote and Abdulsamad Rabiu, Nigerian billionaires listed among the 500 richest men in the world, have lost $5.85 billion, according to the Bloomberg Billionaire Index (BBI). The BBI is a daily ranking of the world’s richest people. It provides details on the calculations of net worth analysis on each billionaire’s profile page. […]