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The Central Bank of Nigeria will conduct a primary market auction on treasury bills this week, offering a total of N58.5bn across the 91-day (N5.8bn), 182-day (N29.2bn) and 364-day (N23.4bn) tenors. The 91-day tenor recorded the last stop rate of 10.29 per cent on Friday, the 182-day tenor recorded the last stop rate of 12.6 […]

The Central Bank of Nigeria has introduced guidelines on the management of investment account holders for Non- Interest Financial Institutions in Nigeria. The regulatory body said the objectives of the guidelines was to provide the minimum standard to be met by NIFIs operating in Nigeria before they could recognise profit sharing investment account Holders deposits […]

Brent oil slipped to around 71 dollars a barrel on Tuesday, pressured by expectations of higher U.S. inventories and concern about Russia’s willingness to stick with OPEC-led supply cuts. Analysts on average expect U.S. crude stockpiles to have risen by 1.9 million barrels last week, the fourth straight increase. The first of this week’s stockpile […]

The National Bureau of Statistics on Tuesday released the consumer price index, which measures inflation with the index dropping to 11.25 per cent (year-on-year) in March 2019. The bureau in the report said the 11.25 per cent year-on-year inflation rate is 0.06 per cent points lower than the 11.31 per cent recorded in February 2019. […]

Ibe Kachikwu, the minister of state for petroleum resource says that no international oil company (IOC) is planning to exit Nigeria contrary to reports in some section of the media. Mr Kachikwu made this known while briefing journalists after facility tour of ExxonMobil Erha Floating Production Storage and Offloading vessels (FPSO) in Lagos. FPSO unit […]

Zainab Ahmed, the minister of finance, has disclosed that proceeds from the federal government’s second $15 billion Green Bond will be used in financing agriculture, power, health and water resources sectors of the economy before the end of 2019. Mrs Ahmed, disclosed this during a media briefing at the end of the recently concluded meeting […]

The Nigeria Union of Petroleum and Natural Gas Workers and the Petroleum and Natural Gas Senior Staff Association have described as poisonous the International Monetary Fund’s advice to the Federal Government on fuel subsidy. Christine Lagarde, the managing director, IMF, , during a press conference on Thursday at the joint annual spring meetings with the […]

The Petroleum Product Pricing Regulatory Agency has put the country’s daily supply of Premium Motor Spirit, otherwise known as petrol, at 56 million litres. In a statement,  Abdulkadir Saidu, executive secretary,PPPRA said that daily supply of petrol in the country grew from 46 million litres per day in 2017 to 54 million litres in 2018 […]