CBN unveils new FX guidelines, approves cash movement of $50,000
By Emma Ujah, Abuja Bureau Chief The Central Bank of Nigeria (CBN) has issued fresh Foreign Exchange Guidelines which provides that an individual can move cash of up to $50,000, but must be declared at the point of exit. The bank also retained the earlier provision for the movement or import of cash of up to […]
S/East companies shutting down over rising energy costs — MAN
The Manufacturers Association of Nigeria (MAN) has raised alarm over the worsening state of manufacturing activities in the South-East, warning that rising energy costs and poor access to finance are forcing many companies in the region to shut down. Chairman of MAN for Anambra, Enugu and Ebonyi states, Lady Ada Chukwudozie, disclosed this during the MAN […]
Seme Customs grows revenue by 448% in 2mths
•Says smugglers behind fuel scarcity By Providence Ayanfeoluwa & Efe Onodjae The Nigeria Customs Service, NCS, Seme Area Command, generated N9.79 billion between March 18 and May 2026, representing a 448 per cent increase compared to the N2.19 billion recorded in the corresponding period of 2025. Speaking during his first media briefing at the command, the […]
ELECTRICITY: NDPHC restores 450MW Alaoji plant
By Obas Esiesesa The Managing Director and Chief Executive Officer of the Niger Delta Power Holding Company, Engr. Jennifer Adighije has disclosed that operations at the 450 megawatts Alaoji Open Cycle Power Plant in Abia State has been restored after it was shut down in 2023 over gas supply and metering disputes. Adighije disclosed this during […]
Capital importation rises 182% to $3.37bn
•As foreign portfolio accounts for 95.7% By Babajide Komolafe Capital importation rose by 182 per cent, month-on-month to $3.37 billion in January from $1.25 billion in December, driven by a surge in foreign portfolio investment into bonds and money market instruments. The Central Bank of Nigeria, CBN, disclosed this in its monthly economic report for January […]
UBA commissions innovation hub, business office at UNILAG,
By Babajide Komolafe United Bank for Africa (UBA) Plc, has deepened its longstanding relationship with the academic community and reaffirmed its commitment to innovation, youth empowerment, and nation-building by commissioning the UBA Innovation Hub and Business Office at the University of Lagos (UNILAG). The landmark facility was commissioned by the Group Chairman, UBA, Tony Elumelu, represented […]
