Finance
Niger to Build New Oil Refinery to Boost Energy Independence in the Sahel
Nigerien authorities have signed a memorandum of understanding with the Canadian company Zimar to build a new oil refinery and petrochemical complex in...
CBN Dismisses Report of Deadline for Old Naira Notes, Ignores Reps Speed Up Calls
The Central Bank of Nigeria (CBN) has dismissed circulating reports that old Naira notes—specifically the N200, N500, and N1,000 denominations—will cease legal tender...
Reps Urge CBN to Speed Up Circulation of New Naira Notes, Phase Out Old Notes Before January 2025 Deadline
The Nigerian House of Representatives has urged the Central Bank of Nigeria (CBN) to speed up the circulation of newly printed N200, N500,...
Côte d’Ivoire Begins Construction of 37km Metro Line in Abidjan to Ease Traffic
Côte d’Ivoire has begun the construction of a 37-kilometre metro line in Abidjan, which will link Anyama Centre to the airport. The Metro...
Dangote Refinery Starts Direct Sales of Petrol to Oil Marketers, As NNPC Quits Intermediary Roles
The Dangote Petroleum Refinery has commenced direct supply of petrol to oil marketers without the involvement of the Nigerian National Petroleum Company Limited...
Countries Do Not Always Have to Follow IMF Advice – Nigeria’s Finance Minister
Olawale Edun, Nigeria’s Finance Minister and Coordinating Minister of the Economy, said that countries do not necessarily have to take advice from the...
Nigeria’s Cabinet Approves Borrowing ₦1 Trillion for Italian-made Fighter Jets and Ammunition
Nigeria’s Federal Executive Council has approved a ₦1.02 trillion ($618 million) loan to purchase six Italian-made M-346 attack jets and ammunition for the...
Nigeria’s EFCC Withdraws Money Laundering Charges Against Binance Executive Gambaryan
The Nigerian government has dropped all charges against Tigran Gambaryan, a Binance Holdings executive detained on money laundering charges. The Economic and Financial...
Nigeria’s FG Bans Exports of Cooking Gas Amid Rising Prices
Nigeria’s Federal Government has ordered the Nigerian National Petroleum Company (NNPC) and Liquefied Petroleum Gas (LPG) producers to stop exporting cooking gas starting...
Abia State Approves N70,000 Minimum Wage for Civil Servants Starting October
Abia State civil servants will start receiving a new minimum wage of N70,000 in October 2024, according to an announcement by the state...
Sacked CBN Officials Take Legal Action, Demand Reinstatement Following Unlawful Dismissal
Former officials of the Central Bank of Nigeria (CBN), whose appointments were terminated in March, have taken legal action against the bank. The...
EFCC Re-arraigns Ex-Kwara Governor and His Finance Commissioner Over N5.78bn Fraud
The Economic and Financial Crimes Commission (EFCC) re-arraigned former Kwara State Governor Abdulfatah Ahmed and his ex-Commissioner of Finance, Ademola Banu, on Monday....