Brent crude oil price rallied to $97.5 on Thursday, as the crude storage hub in Cushing, Oklahoma, United States, fell by 943,000 barrels to 22 million barrels within one week. According to the Managing Director of TD Securities, Bart Melek, the hike in Brent oil price was driven by the decline in crude stocks in The post Crude oil price hits $97 per barrel after US storage hub records decline in stocks appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.

The Federal Government said the special investigator, Jim Obazee, has conducted an audit report on the Central Bank of Nigeria (CBN) and it would be released soon. This was disclosed by the Secretary to the Government of the Federation, George Akume, on Wednesday. He said the audit report would reveal what went wrong and what The post Nigerian govt soon to release special investigator’s audit report on CBN appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.

The presidency on Wednesday explained why President Bola Tinubu appointed a new management team for the Central Bank of Nigeria (CBN). The president on September 15 nominated the former Lagos State commissioner for economic planning and budget, Dr. Olayemi Cardoso, as the substantive CBN governor following the resignation of Godwin Emefiele from the position. He The post Why Tinubu appointed new economic team for CBN – Presidency appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.

As Olayemi Cardoso, the newly appointed governor of the Central Bank of Nigeria, assumes full control of the organisation this week, his biggest challenges will be to rebuild trust in the institution after eight years of poor management. He’ll also have to increase confidence in the nation’s currency; the naira, which has taken a good The post REVIEW: In face of battered economy, weak naira, new CBN Gov, Cardoso, lists plans appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.

The naira appreciated in the investors’ and exporters’ window of the official market on Tuesday after the dollar rate settled at N755.08/$1 by end of trading hours. According to FMDQ Exchange, the naira to dollar rate contrasted with the N773.25/$1 reported at the close of trading on Monday. The authorised dealers brought the price of The post Dollar at black market hits N1000/$, as FX dealers trade at N755 in official market appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.

The equity capitalization in the Nigerian capital market crashed to N36.47 trillion at the close of trading on Tuesday. The figure was N126.1 billion or 0.34 percent lower than the N36.60 trillion posted by the bourse on Monday. Similarly, the All-Share Index dipped by 230.47 basis points to close at 66, 652.17, down from the The post Conoil, Oando, others drag down Nigeria’s capital market by N126bn appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.

Nigerians have taken to social media to criticise Erisco Foods Limited and call for a boycott after reports emerged that the company arrested a customer for reviewing the quality of their product. The customer, Chioma Egodi had complained of the sugar level in Erisco’s tomato paste product, saying it was too sugary. Her opinion, which The post Erisco, founder under fire over arrest of customer for product review appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.

Cement Producers Association of Nigeria has said the price of cement could rise from N5,000 to N9,000 due to the Federal Government’s decision to replace conventional asphalt with concrete to construct roads. The National Chairman of the body, David Iweta, and the National Secretary, Reagan Ufomba, in a statement on Monday, said without proactive steps, The post FG’s ‘concrete road’ plan will drive cement price to N9000, manufacturers warn appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.

Capital Hotels has opened an escrow account to pay off shareholders exiting the firm ahead of its delisting from the Nigerian capital market. The firm confirmed the development in a statement issued on Monday by its secretary, Alex Ugwuanyi. The hospitality company had requested a voluntary delisting from the stock market in a bid to The post Capital Hotels opens escrow account to settle exiting shareholders appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.

Investors in Oando, Caverton Helicopters, and other equities in the Nigerian capital market lost N241.8 billion at the close of trading on Monday. This followed the crash in the market capitalization by 0.65 percent from N36.84 trillion to N36.60 trillion at the close of business today. Also, the All-Share Index dipped by 441.95 basis points The post Investors in Oando, Caverton, others lose N241.8bn as Nigeria’s stock market tumbles appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.