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Article 'EFCC, INTERPOL Hunt Down CBEX Fraudsters After ₦1.3 Trillion Ponzi Collapse'- Nigeria News
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Everything You Need to Know About the NDDC Youth Internship SchemeI want to apply
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The Federal Executive Council (FEC) has approved a N4.8 billion fund to maintain HIV treatment programs in Nigeria after the suspension of U.S. development aid. The funds will procure 150,000 treatment packs over four months, aiming to reduce reliance on foreign assistance and ensure continuity...
![Today's Naira Rate [04-02-2025]: Naira Hits N1,590/$1 in Parallel Market Amid Forex Fluctuations](/data/attachments/213/213089-b0257b349600919a70cd121944ef0b9d.jpg?hash=FXjrHIaYd4)
Nigeria
Today's Naira Rate [04-02-2025]: Naira Hits N1,590/$1 in Parallel Market Amid Forex Fluctuations
The Nigerian Naira saw a significant appreciation in the parallel market on Monday, strengthening to N1,590 per US dollar from N1,610 the previous week. However, in the official foreign exchange market, the currency depreciated to N1,495.60 per US dollar, down from N1,474.78.
The Nigerian...
The Central Bank of Nigeria (CBN) has extended the deadline for Bureau de Change (BDC) operators to purchase $25,000 weekly from banks until May 30, 2025. The extension aims to stabilize forex liquidity and regulate market volatility. Analysts remain divided on its long-term impact on Nigeria’s...
President Bola Tinubu has signed a bill establishing the Federal University of Environment and Technology (FUET) in Ogoni, Rivers State. The institution aims to address environmental justice, promote clean energy, and drive sustainable development. Officials praise the move as a step toward...
USAID staff were instructed to work remotely after being told to stay home due to a potential shutdown. The move follows claims from Elon Musk that President Trump plans to shut down USAID. Senior security officials at the agency were also placed on administrative leave amid the changes.
Staff...
Nigeria’s trade with the U.S. faces challenges due to Trump’s tariffs, affecting key imports like vehicles, fuel, and medical products. These tariffs may raise prices, exacerbating inflation, especially in transport. However, Nigeria’s growing refining capacity, especially the Dangote Refinery...
Olu Verheijen, special adviser to Nigeria's president on energy, clarifies her comments about electricity tariff hikes. She explains the 2024 tariff increase covers 65% of supply costs, with subsidies in place. Government initiatives like the Presidential Metering Initiative and targeted...
The NHS has approved Casgevy, a groundbreaking gene-editing treatment for sickle cell disease, offering hope to thousands. Expected to help 50 patients annually, the £1.65 million therapy corrects faulty genes, significantly reducing hospital visits. The treatment will be available at NHS...
The Nigerian Federal Government plans to increase electricity tariffs over the next few months, aiming for a cost-efficient and cost-reflective system to attract private investment. However, there will be subsidies for lower-income users. This follows a previous tariff hike in 2024, amid ongoing...
PETROAN announces the commencement of fuel lifting from Port Harcourt and Warri refineries. The move follows recent rehabilitations, with both refineries now supplying various petroleum products. The restart has sparked hopes for lower fuel prices and better fuel quality in Nigeria, as...
Dangote Petroleum Refinery has reduced the ex-depot price of petrol from N950 to N890 per litre, effective February 1, 2025. The adjustment follows a decline in global crude oil prices. The refinery urges marketers to pass the benefits to consumers, aiming to ease fuel costs and lower living...
Nigeria plans another electricity tariff increase, aiming for a two-thirds rise to reflect actual supply costs. This move seeks to improve power reliability and attract private investment. The government intends to balance the tariff hike with subsidies for vulnerable citizens while addressing...
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