Business

The Dangote refinery has officially announced a temporary suspension of petroleum products sales in Naira. This was disclosed in a statement released yesterday by the company, citing an imbalance between its sales proceeds and crude purchase obligations, which are currently denominated in U.S. dollars. It said the decision aims to address the mismatch and ensure sustainable operations, and further emphasized that petroleum product sales in Naira will promptly resume once […]

Reactions have continued to trail the announcement by the Governor of the Central Bank Godwin Emefiele to re-designed naira notes as a measure targeted at controlling currency in circulation as well as curbing counterfeit currency and ransom payment to kidnappers and terrorists. Throwing more light on the rationale for the new government policy, a Professor of Economics and a member of the Central Bank of Nigeria Monetary Mike Obadiah said […]