EFCC Makes ‘U Turn’, Denies Recovering $1m from Amosu’s Soak Away
LAGOS FEBRUARY 17TH (URHOBOTODAY)-The Economic and Financial Crimes Commission [EFCC] has denied its earlier report that it discovered one million Naira from a soak away pit located in the home of the former chief More...
EFCC Recovers $1m in ‘Soak-away’ At Ex-Air Chief Amosu’s House, Traces N3bn to Wife’s Account
Amosu LAGOS FEBRUARY 12TH (URHOBOTODAY)-A huge sum of $3 million has allegedly been recovered by the anti-graft agency, the Economic and Financial Crimes Commission, the EFCC, kept in a soak-away pit at Badagry More...
Naira Crashes Again, Sells at N310 to Dollar
LAGOS FEBRUARY 5TH (URHOBOTODAY)-The Naira has depreciated further at the parallel market amid expectations of an intervention by the apex bank in the foreign exchange market. The Naira on Friday afternoon exchanged More...
Naira in Free-Fall, Sells N280 to $1 at Parallel Market
LAGOS JANUARY 11TH (URHOBOTODAY)-The Nigerian currency on Monday depreciated further at the parallel market, following implementation of the Central Bank of Nigeria’s downward review of foreign exchange sales More...
Nigeria’s Economy Defying Currency Critics Chokes Growth
LAGOS OCOBER 30TH (URHOBOTODAY)-Nigeria’s economy is growing at the slowest pace this decade as oil prices drop. Companies are complaining they can’t get the dollars they need to do business. And trading in More...
Again, Naira Appreciates in the Parallel Market at N208 – $1
LAGOS AUGUST 21ST *URHOBOTODAY)– Nigeria’s naira has sustained the gains recorded this week, edging higher on Friday against the U.S dollar at the parallel market — N208 / $1 — having traded at N223 on More...
Okonjo-Iweala Warns Her Successor of Tough Year Ahead
Okonjo-Iweala LAGOS JUNE 5TH (URHOBOTODAY)-Nigeria’s former Finance Minister Ngozi Okonjo-Iweala said her successor will face a “difficult” year because of plunging oil revenues and the economy needs expert More...
How Politicians Demand for Dollar Affect Nigerian Exchange Rate
LAGOS FEBRUARY 25TH (URHOBOTODAY)-Some Bureau De Change Operators, BDCs, in Abuja have attributed the high demand for dollars by Nigerians, especially politicians, to the cause of the high exchange rate witnessed More...
Nigeria’s Woes Deepen as Central Bank Missteps on Currency
EMEFIELE LAGOS FEBRUARY 7TH (URHOBOTODAY) — As if the collapse in crude prices, forthcoming elections and an Islamist insurgency weren’t enough, investors in Nigeria have another matter to worry about: More...