These are not the best of times for Bureaux de change (BDCs) operators. They have been shunned by foreign exchange users following the convergence of naira/dollar rates at the parallel market and BDCs for the first time in two years. The exchange rate at both parallel market and BDCs closed yesterday at N363/$1. The attractive rate at the parallel
The Federal Inland Revenue Service (FIRS) has introduced six key electronic solutions (e-Services) to enhance convenience, transparency and round the clock processing and payment of taxes. Some of the e-Services, which could now be accessed online, are taxpayer registration (through e-Registration); payment of Stamp Duties (through e-Stamp
Ekiti State residents are at the mercy of petrol black marketers, who are capitalising on the face-off between Governor Ayo Fayose and oil marketers to make brisk business. The people, who buy the commodity from neighbouring states, sell to consumers at N300 per litre, as against the government regulated price of N145 per litre. The black marketers
THE Central Bank of Nigeria (CBN) yesterday kept its Monetary Policy Rate (MPR), its base interest rate, at 14 per cent. CBN Governor Godwin Emiefele, who spoke to reporters after the Monetary Policy Committee (MPC) meeting in Abuja, said the recession corridor would come to an end by the third quarter because of the positive financial and
The dollar yesterday crashed to N368/$ in the parallel market, after over three weeks at N382/$, representing N14 appreciation within the period. The exchange rate, which was confirmed by Aminu Gwadabe, president of the Association of Bureaux De Change Operators of Nigeria (ABCON), followed nearly $5 billion sustained intervention by the Central
Employees of Capital Oil and Gas Industries Ltd have urged the Federal Government to release their Chairman, Dr Ifeanyi Ubah, who is in the Department of State Services (DSS) custody. The workers urged Acting President Yemi Osinbajo, Senate President Bukola Saraki, House of Representatives Speaker Yakubu Dogara and the Minister of Labour, Sen.
The cost of producing a barrel of oil in Nigeria at over $20 is very high and uncompetitive compared with what other oil-producing countries, the Group Chief Executive Officer of Oilserv Limited, Mr. Emeka Okwuosa, has said. He said oil production at above $20 per barrel couldn’t be profitable with appropriate cost management. He lamented that the