Category: economy
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Nigerian Militant Goes to Court to Stop Parole, Deportation
PRESS RELEASE April 14, 2025 – Henry Okah, a Nigerian oil-region militant leader jailed in South Africa, started a court case in Pretoria on April 15 to halt alleged moves to grant him parole and deport him to Nigeria. The case with number 2025-038124 set for hearing in a Gauteng…
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Militant Group Claims Attack on Major Nigeria Oil Pipeline
PRESS RELEASE April 13, 2025 – MEDIA RELEASE Under the aegis of the Movement for the Emancipation of the Niger Delta (M.E.N.D), forces of the Liberation Army of the Niger Delta and Bakassi (L.A.N.D. & B) attacked and destroyed 1. Ogada Brass Agip trunk line running from Omouku to Brass Agip terminal 0200hr 2. Oron river back…
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CBN Prohibits Use of Foreign-Currency Denominated Collaterals for Naira Loans
LETTER TO ALL BANKS Abuja, April 8 – THE USE OF FOREIGN-CURRENCY-DENOMINATED COLLATERALS FOR NAIRA LOANS The Central Bank of Nigeria has observed the prevailing situation where bank customers use Foreign Currency (FCY) as collaterals for Naira loans. Consequently, the current practice of using foreign currency-denominatedcollaterals for Naira loans is…
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CBN: Monetary Policy Adjusted 200 Basis Points to 24.75%
Press Release Abuja, March 26 – The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) held its 294th meeting on the 25th and 26th of March 2024 to review recent economic and financial developments as well as assess risks to the outlook. Decisions of the MPC The…
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FAAC Meeting: FG, States and LGCs Share 1.152 Trillion Naira for February 2024
Press Release Abuja, March 22 – The Federation Account Allocation Committee (FAAC), at its February 2024 meeting chaired by the Honourable Minister of Finance and Co-ordinating Minister of the Economy, Wale Edun, shared a total sum of N1,152.756 trillion to the three tiers of government as Federation Allocation for the month…
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Custom: Approval of 90-Day Window for Payment of Import Duty on Improperly Imported Vehicles
Abuja, March 3 – APPROVAL OF 90-DAY WINDOW FOR PAYMENT OF IMPORT DUTY ON IMPROPERLY IMPORTED VEHICLES ABDULLAHI MAIWADAChief Superintendent of CustomsNational Public Relations Officerfor Comptroller General of Customs03 March 2024
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CBN Revokes Operational Licenses of 4,173 BDCs
Abuja, March 1 – The Central Bank of Nigeria (CBN), in exercise of the powers conferred on it under the Bank and Other Financial Institutions Act (BOFIA) 2020, Act No. 5, and the Revised Operational Guidelines for Bureaux De Change 2015 (the Guidelines), has revoked the licenses of 4,173 Bureaux…
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Labour: Police Assures on Defending Protesters Rights Amid Proposed Nationwide Protest
Abuja, Feb. 26 – LABOUR: NPF ASSURES DEFENDING PROTESTERS’ RIGHTS AMID PROPOSED NATIONWIDE PROTEST As NPF Places Men on Red Alert Across Nigeria,Warns Impostors Against Hijack The Nigeria Police Force,on the heels of the proposed nationwide protest by the Nigeria Labour Congress (NLC), hereby affirms the fundamental right of all…
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FG Cautions NLC to Shelve Its Planned Nationwide Protests
Abuja, Feb. 24 – The Honourable Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi, SAN has cautioned the Nigeria Labour Congress (NLC) to shelve its planned nationwide protest on February 27 and February 28, 2024. The HAGF made this known in a letter written to the Nigerian Labour…
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Nigeria Customs Service Strengthens Leadership With New Appointments
Abuja, Feb. 23 – NIGERIA CUSTOMS SERVICE STRENGTHENS LEADERSHIP WITH NEW APPOINTMENTS IN ACTING CAPACITY AND REDEPLOYMENTOF SOME MANAGEMENT MEMBERS 2.The newly appointed management members are poised to steer the NCStowards enhanced efficiency and effectiveness. Their diverse expertise and proventrack records are expected to inject fresh momentum into critical areas…
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