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Economy: Nigeria loses N3.45bn daily as Shell shuts Bonga

Nigeria’s first deepwater development, the Bonga field, has been shut down, causing oil firms and the nation a huge loss of revenue estimated at...

CBN pumps additional $482.6m into forex market

The Central Bank of Nigeria has sustained its intervention in the inter-bank segment of the foreign exchange market by injecting $482.6 million into the...
CBN

CBN Introduces Two New Non-interest Banking Instruments

The Central Bank of Nigeria (CBN) has introduced two new financial instruments known as – Funding for Liquidity Facility (FfLF) and Intra-day Facility (IDF),...

Saudi Arabia, Russia give condition to cut oil production

Four leading world crude oil producers – Saudi Arabia, Russia, Qatar and Venezuela – have indicated their willingness to cut production in a bid...

Oil sells at $57.8 over fears of new Iran sanctions, Iraq conflict

Oil markets jumped on Monday on concerns over potential renewed U.S. sanctions against Iran as well as conflict in Iraq. An explosion at a U.S....
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