Category: Economy
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RMAFC uncovers $205m in revenue not remitted by oil firms
The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has disclosed the discovery of over 205 million dollars ($205,013,760) in revenues not remitted by some oil and gas companies operating in the country.
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CBN opens up on redesigning other Naira denominations
The Central Bank of Nigeria (CBN) has disclosed, contrary to rumours of printing other Naira denominations apart from the redesigned N1000, N500 and N200, that no other denominations would be printed.
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Nigeria’s rising inflation consistent with global trend – Emefiele
Mr Godwin Emefiele, Governor, Central Bank of Nigeria (CBN) on Friday said the steady increase in headline inflation from 15.60 per cent in January to 20.77 per cent in September was consistent with global trends.
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Bakers lament cost of producing bread, ask govt. for subsidy
Master Bakers Association on Thursday called on the Federal Government to subsidise the cost of cassava flour to encourage members produce bread and other confectionery with the flour without incurring losses.
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See first photos of redesigned Naira notes released by CBN
President Muhammadu Buhari today unveiled the N200, N500, and N1,000 banknotes redesigned by the Central Bank of Nigeria (CBN).
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Why we did not consider diaspora Nigerians in Naira notes redesign – CBN
Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele has opened up on why the apex bank did not consider diaspora Nigerians in its naira redesign decisions.
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FG to grow oil reserves to 40bn barrels by 2025 – Sylva
Chief Timipre Sylva, Minister of Petroleum Resources, says one of the key mandates of the ministry is to grow oil reserves from the current 37 billion barrels to 40 billion barrels by 2025.
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CBN issues new directives to banks over Naira notes redesign
The Central Bank of Nigeria (CBN) has instructed commercial banks in the country to work on Saturdays till January 31, 2023 to enable bank customers to return old naira notes for new ones.
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Inflation rate in Nigeria rises to 21.09% in October
The National Bureau of Statistics (NBS), says Nigeria’s headline inflation rate increased to 21.09 per cent on a year-on-year basis in October 2022.
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Marketer says realistic cost of petrol is N200 per litre
An independent petroleum products marketer, Mr Mike Osatuyi has said the only realistic pump price of petrol is between N200 and N210 per litre.