The Nigeria Deposit Insurance Corporation (NDIC) has announced plans to commence the payment of the first tranche of liquidation dividends to depositors of Heritage Bank starting this April. This follows the revocation of Heritage Bank’s operating licence by the Central Bank of Nigeria (CBN) on June 3, 2024. Managing Director of NDIC, Mr Bello Hassan,…
The Nigerian currency, the naira, depreciated against the American dollar at the black market on Wednesday, April 9, 2025. This is even as there is no official rates from the Central Bank of Nigeria (CBN) Foreign exchange data several hours after the market closed. On the black market, the naira fell to N1,620/$1 as against…
A meeting between a presidential delegation and officials of the Dangote refinery, NNPC and other parties has agreed to extend the policy of selling Nigerian crude to local refineries in naira. This was disclosed by the Ministry of Finance in a post on its X handle. The Tuesday meeting also resolved that the policy, which…
By Doris Pundy, dpa The European Union has offered the United States an agreement on the reciprocal lifting of all tariffs on industrial goods, European Commission President Ursula von der Leyen announced on Monday, days before 20% tariffs on EUÂ exports enter into force.”Europe is always ready for a good deal, so we keep it on…
The Alliance of Sahel States (AES), a recently established pact comprising three junta-led states – Mali, Niger Republic, and Burkina Faso – has imposed a 0.5 per cent import duty on goods from the Economic Community of West African States (ECOWAS) member nations. In a joint statement last week, the AES said it aims to…
CALABAR – The Road Transport Employers Association of Nigeria (RTEAN) has disclosed that it was not against legitimate taxes but against illegal interference and intimidation of its members. This was disclosed by Mr Sunday Ekong, Chairman of RTEAN, Calabar Metropolis Chapel, on Monday, immediately he and other executive members were elected into office at the…
