Author: broadstreet

Nigeria’s apex bank, the  Central Bank of Nigeria (CBN) has ordered banks in the country to pay savings deposit accounts an interest rate of at least 4.2%, an increase from the 1.4% previously received. This was made known in a circular dated August 15, 2022, titled “Review Of Interest Rate On Savings Deposits” and signed […]

The exchange rate between the naira and the US dollar closed at N430/$1 at the Investors and Exporters (I&E) window, where forex is traded officially. Naira depreciated by 0.09% on Monday, 15th August 2022 to close trading at N430/$1 from N429.62/$1 recorded in the previous trading session. However, forex supply inclined significantly by 190% to […]

Nigeria’s annual inflation quickened to 19.64% in July, rising for a sixth straight month on the back of price increases for both food and non-food items. Inflation, which has been in double digits in Africa’s biggest economy since 2016, was at 18.60% year on year in June. The National Bureau of Statistics (NBS) said this […]

At the end of trading on the floor of the Nigerian Exchange Limited last week, investors lost N571bn. As the NGX All-Share Index and market capitalisation of equities listed on the NGX depreciated by 2.09 per cent to close at 49,664.07 and N26.787tn last week. All other indices finished lower with the exception of The […]

As insecurity rises in Nigeria, the Nigerian police force has directed the immediate deployment of security operatives to all schools, hospitals, and critical national infrastructure nationwide. This was made known in a statement by the Inspector-General of Police, Mr Usman Baba on Sunday according to News Agency of Nigeria. The IGP also ordered regular patrols, […]

The Lagos State Government, on Thursday, announced the disbandment of its M.O.T Taskforce team. This is even as it asked motorists to report any illegal activities of the M.O.T Taskforce for possible arrest and prosecution. In a statement signed by the Special Adviser on Transportation to the Lagos State Governor, Honourable Sola Giwa, the State […]

The Lagos State Government has announced traffic diversion plan on the Marine Bridge for the Apapa outbound lane of the bridge for a period of about 4 months. The partial closure of the Bridge which would be from Saturday, August 20, to December 20, 2022, follows a notification from the Federal Ministry of Works on […]

Rivers State Governor Nyesom Wike has denied filing a suit against the Peoples Democratic Party, its presidential candidate, Atiku Abubakar and Sokoto State Governor Aminu Tambuwal. Speaking at the commissioning of House of Assembly Quarters in Port Harcourt, Wike said he was focused on delivering the dividends of democracy to the people of Rivers State. […]

Seplat Energy has said it did not get any official notification from the Federal Government reversing its proposed acquisition of the entire share capital of Mobil Producing Nigeria Unlimited. The company in a statement obtained from the Nigerian Exchange Limited (NGX) also stated that it is seeking clarification from the relevant authorities that the president […]

Nigeria Liquefied Natural Gas Ltd. (NLNG) has denied reports that it enabled the illegal exportation of crude oil and natural gas in Nigeria. This was disclosed in a statement by Mr Andy Odeh, the General Manager, External Relations and Sustainable Development, on Thursday in Lagos. NLNG said it is simply not true that the illegal […]


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