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Naira Appreciates to ₦1,560 per Dollar in Parallel Market Amid Renewed Forex Inflows

The Nigerian naira has recorded a modest gain in the parallel market, appreciating to ₦1,560 per US dollar, up from the previous rate of ₦1,565. The strengthening of the currency comes amid improved dollar liquidity and a gradual reduction in foreign exchange demand pressures, especially from importers and informal traders. Currency traders in major markets […]

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Niger State Drags FG to Supreme Court Over Exclusion from 13% Derivation Fund

The Niger State Government has filed a suit at the Supreme Court against the Federal Government of Nigeria, challenging its exclusion from the 13% derivation fund despite hosting four major hydroelectric dams that contribute significantly to national electricity production. In the suit, the state names the Attorney-General of the Federation and Minister of Justice as […]