Business

The rhythm of Nigeria's business world
The Nigerian Naira fell sharply from N1,600 to N1,780 per dollar in the black market, reversing recent gains. Bureau de Change operators and digital platforms reported volatile rates, with speculators blamed for the decline. Analysts urge stronger policies to stabilize the forex market and...
The US Embassy in Nigeria will require immigrant visa applicants to visit the Lagos Consulate General twice, starting January 1, 2025. The new process includes an in-person document review to ensure complete documentation and avoid delays, followed by the visa interview. Applicants must adhere...
Ademola Adeyemi-Bero has been appointed OPEC Board of Governors Chairman for 2025 and Nigeria's OPEC Governor. This decision highlights Nigeria's influence in global energy discussions. OPEC also extended Nigeria's 1.5 million barrels per day oil quota until 2026 and reappointed Haitham Al Ghais...
Nigeria's Central Bank fined fintech giants Moniepoint and OPay ₦1 billion each in the second quarter of 2024 for regulatory violations. This follows increased scrutiny of the fintech sector, with concerns over compliance with licensing and Know Your Customer (KYC) standards. Other fintech firms...
The Naira has increased to N1,535 in the official market and N1,555 in the black market, driven by the Central Bank of Nigeria's new Electronic Foreign Exchange Matching System (EFEMS). Black market operators predict further gains, with projections reaching N1,200 for the Naira by next week...
The Naira appreciated in the parallel market, trading at N1,550 per dollar, gaining N5 from last weekend. However, the official market saw a slight depreciation of N1,538. The exchange rate gap between the two markets narrowed to N12, reflecting ongoing stabilization efforts by the Central Bank...
Labour unions in Nigeria’s power sector have threatened a strike over potential job cuts by new investors. With the expiry of six-month contracts for thousands of workers, the unions warn that layoffs could worsen the electricity crisis in the south-south and south-west regions, jeopardizing the...
NNPCL announces that the Port Harcourt refinery is over 90% complete. Following delays, the $1.5 billion rehabilitation project aims to increase production to 210,000 barrels per day. Despite initial criticism, NNPCL clarified that the refinery is currently producing 1.4 million liters of petrol...
NNPCL has shortlisted candidates for interviews in its 2024 recruitment after a successful Computer-Based Test (CBT). Shortlisted applicants have received email invitations for interviews at the NNPC Corporate Headquarters in Abuja. The process emphasizes transparency, inclusivity, and...
The Nigeria Data Protection Commission (NDPC) has announced a training program for 500 Data Protection Officers (DPOs) under its Data Protection Training and Certification initiative. This initiative aligns with Nigeria's strategic plan to enhance digital skills, create job opportunities, and...
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