The Dangote Refinery has announced a significant reduction in its ex-depot petrol price to N835 per litre, shaking up Nigeria’s downstream oil market and sparking concerns among fuel marketers and importers. This marks a N30 drop from its previous rate of N865 per litre and comes just eight days after an earlier reduction, totaling a…
Nigerians across social media are raising alarm over the collapse of CBEX, a digital asset trading platform that has reportedly scammed investors out of over ₦1.3 trillion. The CBEX platform crashed on Monday after users noticed their account balances had vanished. Withdrawals were suddenly postponed, and the platform’s Telegram group was locked, fueling panic among…
The fallout from the collapse of CBEX, a now-controversial digital asset trading platform, took a dramatic turn as angry investors stormed and looted the CBEX office in the Oke Ado area of Ibadan, Oyo State. The unrest was sparked by widespread reports of missing funds and frozen accounts following the platform’s sudden crash. Many users…
Thousands of Nigerians are grappling with massive losses following the sudden collapse of CBEX, a digital asset trading platform accused of defrauding investors of over ₦1.3 trillion. Launched with mouthwatering promises of 100% Return on Investment (ROI) within 30 days, CBEX attracted a large number of investors, only to vanish overnight, leaving users’ wallets completely…
The Federal Government of Nigeria has introduced tough new immigration policies to tackle the issue of visa overstays by expatriates. Starting August 1, foreigners who remain in Nigeria beyond their visa expiration will face severe penalties, including entry bans and daily fines. According to Minister of Interior, Olubunmi Tunji-Ojo, expatriates who overstay their visa by…
In a move aimed at easing the burden of rising fuel prices, the Dangote Petroleum Refinery has announced a reduction in the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, from ₦880 to ₦865 per litre. An official of the $20 billion refinery confirmed the price slash in a statement on Thursday,…
The Federal Executive Council (FEC) has officially ordered the full implementation of the Naira-for-Crude policy, a strategic agreement aimed at reducing Nigeria’s dependence on foreign exchange in the oil and gas sector. According to an update shared by the Federal Ministry of Finance via its official X (formerly Twitter) handle on Wednesday, the directive reinstates…
The Central Bank of Nigeria (CBN) has announced that personal remittance inflows hit $20.93 billion in 2024, marking an 8.9% year-on-year increase. This reflects stronger engagement from the Nigerian diaspora and improved economic conditions. This development was revealed in a statement released on Wednesday by the CBN’s Acting Director of Corporate Communications, Mrs. Hakama Sidi-Ali,…
President Bola Tinubu has paid tribute to renowned Nigerian businessman and former MTN Nigeria Chairman, Pascal Dozie, who passed away at the age of 85 in the early hours of Tuesday. The announcement was made by Presidential spokesperson, Bayo Onanuga, who confirmed the sad news of the death of the respected entrepreneur and pioneer founder…
The United States Trade Representative (USTR) has strongly criticized Nigeria’s import restrictions on 25 categories of goods, stating that the policies create trade barriers and limit market access for American exporters. The USTR made this known on Monday via its official X (formerly Twitter) handle, stressing that the import ban adversely affects key sectors such…
