Abuja – Nigerian authorities are taking action against the collapsed CBEX Ponzi scheme. The Economic and Financial Crimes Commission (EFCC) and the Securities and Exchange Commission (SEC) have promised to pursue the operators. Both agencies are working to recover funds for…
Lagos – Dangote Petroleum Refinery confirmed a welcome price reduction for petrol (Premium Motor Spirit). The new Dangote Refinery petrol price at the gantry is now N835 per litre. This is down from the earlier N865 per litre. This price cut follows…
LAGOS – Nigerians expressed outrage online after the digital trading platform CBEX reportedly crashed. Users claim the platform disappeared with over N1.3 trillion belonging to investors. They operated without registration from Nigeria’s Securities and Exchange Commission (SEC). Investors reported their digital wallets were suddenly…
ABUJA – Nigeria’s annual inflation rate climbed sharply to 24.23 percent in March 2025. The National Bureau of Statistics (NBS) announced the figure Tuesday. This rise breaks a period of steadier prices, up from 23.18 percent in February. The new data comes from…
LAGOS, NIGERIA – Nigeria’s crude oil production experienced a downturn in March. Average daily output fell to 1.40 million barrels. This marks a decrease from February’s 1.465 million barrels per day. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) confirmed these…
Lagos – Falling global oil prices are creating new worries for Nigeria’s economy. In response, the investment bank J.P. Morgan now advises investors to sell their holdings of Nigerian Open Market Operation (OMO) bills, citing increased global risks. J.P. Morgan issued a…
Lagos – The Nigeria Ports Authority (NPA) has officially launched NPA Export Process Terminals (EPTs), a significant move designed to streamline the process for shipping Nigerian goods internationally. Announced by Asuquo Okon, NPA’s Principal Manager for Tariff and Billing, these terminals will…
Abuja – Nigerians might see lower fuel costs as the government confirmed its commitment to the naira-for-crude deal fuel price initiative. This policy allows Dangote Refinery and other local refiners to pay for domestic crude oil using Naira, bypassing the need for…
Abuja – Nigeria’s Federal Executive Council has ordered the full implementation of the Naira-for-Crude agreement with domestic oil refiners. This policy requires crude oil sales to local refineries and the sale of refined products to be done in Naira. The goal is to…
Abuja – Former Senator Shehu Sani said Trump’s tariffs threaten Nigeria’s economy faces serious risks. Sani called the tariffs imposed by President Donald Trump a “suicide mission” for Nigeria. He noted most Nigerians under 40 own far more Chinese products than American goods.…
