The United States Department of the Treasury’s Office of Foreign Assets Control (OFAC) has designated Russia’s VTB Bank for aiding Iranian sanctions evasion. Washington said VTB Bank opened offices in Iran, built banking ties with sanctioned Iranian financial institutions, and worked to move billions of dollars in assets. The U.S. government pledged continual targeting of…
The naira continued its appreciation against the United States dollar at the official foreign exchange market on Monday, beginning the week on a positive note. Central Bank of Nigeria, CBN, data showed that the naira strengthened to N1,326.30 on Monday, up from N1,326.52 exchanged on Friday last week. This means that the naira firmed up slightly by N0.22 on Monday compared…
***As cost of operations rises ***Dangote Cement, UACN lead inventory build-up ***Financial experts give more insight, proffer way out By Peter Egwuatu Manufacturing companies across sectors listed on the Nigerian Exchange Limited, NGX, entered the second quarter of 2026 with combined inventories (unsold goods) of about N1.77 trillion, even as their cost of sales rose…
Nigeria’s ambassador-designate to Mexico, Reno Omokri, has admitted that an FBI investigation involving people connected to President Bola Ahmed Tinubu took place, but maintained that the President was not the target of the probe. Omokri, who spoek on Channels Television’s ‘Politics Today’ on Sunday, said the controversy surrounding the US records had been driven by…
A former National Commissioner of the Independent National Electoral Commission, INEC, Festus Okoye, has said the commission’s digital platforms were targeted by cyberattacks during the 2023 presidential election. Okoye disclosed this in an interview on Deep Insights, a podcast hosted by Austin Agbonsuremi. Ahead of the 2023 elections, INEC had assured Nigerians that polling unit…
***Fuel price hike may hamper school run ***School owners rue unpaid bills, high running cost By Adesina Wahab and Dayo Johnson As primary and secondary schools reopen across the country today parents and guardians are going to contend with paying higher school fees, as most private schools have increased fees by between 30 and 40…
***Transporters, commuters toolMRS raises pump price to N1,400/litre ***NNPC stations move to N1,375/litre lIndependent marketers raise prices to N1,400/litre By Udeme Akpan & Mariam Eko The surge in international crude oil prices above $100 per barrel is pushing up petrol prices across Nigeria, with major marketers raising pump prices and creating fresh pressure on transporters,…
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