The Naira has depreciated to N1,510 per dollar in the parallel market from N1,500 per dollar on Thursday. However, the naira appreciated to N1,469.97 per dollar in the Nigerian Foreign Exchange Market (NAFEM). Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,469.97 per dollar from N1,479.47 per dollar on Thursday,… Read more

Governor Abdullahi Sule of Nasarawa State said foreigners operating in the nation’s solid minerals sector are milking Nigeria dry at the expense of its citizens. Sule stated this at a public policy dialogue on Nigeria’s minerals and mining legislation, organised by the House of Representatives Committee on Solid Minerals at the National Assembly Complex, Abuja,… Read more

Banks grow total assets by 50% N107.3trn •Customers’ deposits up 45% to N64.48trn •As Senate urges CBN to engage critical stakeholders on recapitalisation •Reiterates support for NDIC, Deposit insurance Total Assets of the banking industry rose by 50 per cent, year-on-year, YoY to N107.3 trillion in November 2023 from N71.59 trillion in November 2022. In… Read more

The Naira has depreciated to N1,510 per dollar in the parallel market from N1,500 per dollar on Thursday. However, the naira appreciated to N1,469.97 per dollar in the Nigerian Foreign Exchange Market (NAFEM). Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,469.97 per dollar from N1,479.47 per dollar on Thursday,… Read more

The Manufacturers Association of Nigeria (MAN) has picked holes in the position of the National Agency for Drugs Administration and Control (NAFDAC) over the ban on the sale of alcoholic drinks in sachets and Polyethylene Terephthalate (PET) bottles. Meanwhile, labour and trade unions under the aegis of Nigeria Labour Congress, Trade Union Congress, Food and Beverages,… Read more

The British American Tobacco, BAT (Nigeria) Limited, will today unveil a 1.4MWP grid-tied solar panel system in its Ibadan factory The solar system unveiling will be part of the activities as the organization marks two decades of its Ibadan factory’s exceptional value delivery to the Nigerian economy, the environment, and the communities it serves. The management… Read more

E-payment transactions’ value rises 66% to N664.21trn in 2023 The value of electronic payment (E-payment) transactions grew by 66 percent to N664.21 trillion in 2023 from N387 trillion in 2022. This reflects Nigerians’ increased adoption of electronic payment channels, driven by cash scarcity and increased financial inclusion.   Following the same trend, the volume of electronic payment… Read more

NAFDAC worries over illegal importation of unregistered medical syringes The National Agency for Food and Drug Administration and Control, NAFDAC, weekend expressed worry over the influx of unregistered medical syringes into the country, alleging that intelligence reports showed that some compromises are being made at the port of entry. The Director-General, of NAFDAC, Prof. Mojisola Adeyeye… Read more

According to him, the high tariff on some pharmaceutical manufacturing inputs needs to be urgently reviewed downwards as this will help further reduce the cost of drugs. He called for a coordinated and strategic procurement process which could be by way of pooled procurement or public–private partnership in the medicine supply chain, as is being… Read more