Business

February 03, (THEWILL) - The Central Bank of Nigeria (CBN) has refuted reports that the Federal Government is planning to convert $30 billion domiciliary deposits to Naira. The rebuttal followed report by a national newspaper (not THEWILL), that the...

February 03, (THEWILL) - The Naira lost a whopping N548.48 at the Nigerian Autonomous Foreign Exchange Market (NAFEM) in January, 2024. This represents a 60.46 percent depreciation during the month. The local currency opened the month with N907.11 per dollar...

February 02, (THEWILL) - Duties payable on imported goods at Nigerian ports have gone up following a 43% hike in the exchange rate for cargo clearance by the Federal Government through the Central Bank of Nigeria (CBN). THEWILL reports that...

February 02, (THEWILL) - The Central Bank of Nigeria (CBN), has removed allowable limit of exchange rate quoted by the International Money Transfer Operators (IMTOs). The apex bank had directed the IMTOs to quote rates within a permissible range...

February 01, (THEWILL) - The Naira appreciated on Thursday morning, exchanging for N1,380 to $1 on the parallel market after it fell to over N1,500 on Tuesday and Wednesday. ThIs is coming amid fresh moves by the Central Bank...

February 01, (THEWILL) - Bureau De Change (BDC) operators in Abuja have announced an indefinite shutdown of business over scarcity of US dollars. Abdulahi Dauran, Chairman of the Abuja chapter of the Association of BDC, said online banking transactions...

January 31, (THEWILL) - Transnational Corporation of Nigeria (Transcorp), reported a two-fold jump in bottom line to N34.1 billion for the 2023 financial, according to its earnings report issued Wednesday. Energy, which contributed 78 per cent of gross revenue, is...

January 31, (THEWILL) - The Nigerian National Petroleum Company Limited (NNPC Ltd) has held talks with a South Korean consortium led by Daewoo E & C on the development of gas projects in Nigeria. The Group Chief Executive Officer of...

January 31, (THEWILL) - The Central Bank of Nigeria (CBN) has issued a new directive to banks in the management of their foreign currency exposures which the apex bank said had created operational challenges in the system. In a letter...

January 30, (THEWILL) - A group known as the Enugu State Graduate Farmers, has expressed dismay over the destruction of its 35,000 hectares of rice farm by herders in the state. The farmland is at Ojoloko farm site at Umuiba,...