Category: Business

BREAKING: CBN reduces MPR to 12.5%

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has reduced the Monetary Policy Rate (MPR) from 13.5% to 12.5%. The CBN governor, Godwin...

N’ASS to resume Thursday to consider revised 2020 budget

Lawmakers at the National Assembly have resolved to cut short their Sallah break inorder to consider the ammended  2020 Appropriation Bill. This means the upper and...

Malabu Deal: London Court throws out Nigeria’s case against Eni, Shell

A court in London has dismissed the $1 billion case filed by Nigeria against oil giants Shell and ENI over the Malabu Oil deal. The High Court Judge, Christopher...

Inflation surges to 13.34 per cent

Nigeria’s inflation rate has hit a two-year high. The consumer price index, which measures inflation rose in April to stand at 12.34 per cent. The figure is 0.08...

Eid Celebrations: CBN reschedules MPC meeting

The May 2020 meeting of the monetary policy committee (MPC) of the Central Bank of Nigeria earlier will now hold on Thursday, May 28. This is due to the Eid-el Fitr...

Oil steady as economic worries offset signs of firmer demand

Oil prices held steady on Wednesday despite signs of improving demand and a drawdown in U.S. crude inventories, as worries over the economic fallout from the coronavirus...

CBN, NNPC to spend N1bn on 3,000 returnees

The Central Bank of Nigeria and the Nigerian National Petroleum Corporation said it will spend over N1bn on the quarantine and feeding to feed 3,000 Nigerians awaiting...

Oil gains for fourth day on signs of output cuts, better demand

Oil prices rose for a fourth straight session on Tuesday amid signs that producers are cutting output as promised just as demand picks up, stoked by more countries...

Oil prices rise more than $1 ahead of June WTI contract expiry

Oil prices climbed by more than $1 a barrel on Monday, supported by output cuts and signs of a gradual recovery in demand amid easing coronavirus curbs, with U.S. oil...

FG impounds British aircraft in Lagos, begins investigation

The Federal Government has impounded an aircraft belonging to a British company, FlairJet  for operating commercial flights into the Murtala Muhammed International...