Tag: Central Bank of Nigeria (CBN)

Naira crashes to N710 per dollar

Abibat Babalola

The naira has crashed further in the parallel market, trading for N710 against the U.S. dollar on the exchange platform Aboki Forex. The national currency, which traded for N670 against the dollar on Monday, has fallen even further by 6.7 percent in two days as of Friday afternoon, according to data from Aboki Forex. READ ALSO Money Rain As CAF Hikes Rewards For WAFCON 2022 Winners To $2.4m ‘EU Sanctions Nigeria on Dearth of Anti-Money Laundering Legislation’ How Iyabo Ojo, I, Apostle Suleiman Had Threesome – Actress Steph Nayah Today’s…

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Why Nigeria Cannot Introduce Subsidy On Diesel – NNPC

Abibat Babalola

It is regrettable that Nigeria’s petroleum refineries are not working and the possibility of introducing subsidies on Automotive Gas Oil, also known as diesel, is unlikely, the Federal Government has said. The Chief Executive Officer (CEO) of the Nigerian National Petroleum Company (NNPC) Limited, Mele Kyari, who made this known in Abuja on Tuesday stated that the government cannot afford the payment of subsidies on diesel. He made the comments while appearing before the House of Representatives Committee on Downstream, alongside the CEO of Nigerian Midstream and Downstream Petroleum Regulatory…

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