There was relief in the forex market on Wednesday, as the naira appreciated at both the official I&E forex window and the parallel market.

“We are committed to strengthening partnership, encouraging efficiency, and creating a suitable environment for investors.”

He said majority of Nigeria’s refineries are obsolete.

The Macroeconomics professor also said that deregulation of the oil sector, considering the current realities, will lead to an oligopolistic market which will not benefit the economy.

ARISE Special Correspondent, Abisola Owolawi explores Ghana’s cocoa sector in this documentary.

“It is better for us to own 49 per cent of a high performing entity than 90 per cent of an entity that is under-performing,” said the CEO of Ministry of Finance Incorporated.

The deal is to support the acceleration and growth of MTN’s fintech business payments and remittance services.

With I& E window at N744/$1 and parallel market at N950/$1, Shonubi said Tinubu “very concerned” about naira slide and revealed intervention measures will be ready in a matter of days.

The apex bank said the President is concerned about developments in the market and assured that impactive intervention measures will be ready in days.

Industry data shows production fell to 1.081m bpd in July.

It has Introduced a framework for in-country FX transfers to remove barriers.

“So far, we have taken some baby steps and pushed some aggressive positions,” he said.

Shonubi said that policies should be put in place to control and detect channels for illegal remittances.

According to NCC, the figures was a collation based on the submissions received from service providers in the industry

However, on the Investors and Exporters’ (I&E) window, the naira closed at N781/$1 compared with its opening rate of N782/$1.

Nigeria’s economy has been under pressure since the Central Bank of Nigeria (CBN) floated the currency in June.

The court also restrained Orjiakor or any other person under his authority, from withdrawing from or dealing with his funds in any bank within Nigeria, pending the hearing of the motion.

He also urged the tax committee to widen the country’s tax net, so as to reduce pressure on those that had over the years been committed to the payment of taxes.

Airlines flying between Europe and southern Africa would need to reroute and add 1000 or more extra kilometers to their flights,.

The CBN commended Zenith Bank for the promotion of Nigeria’s non-oil based export profit.