Business
JUST IN: Sectoral Debates: CBN Gov Cardoso, Edun arrive House of Reps
Governor of the Central Bank of Nigeria, Yemi Cardoso and the Minister of Finance, Wale Edun are currently before the House of Representatives in the ongoing sectoral debate on the economy.
The Executive Chairman of the Federal Inland Revenue Service, FIRS, Zacch Adedeji and the Minister of Budget and National Planning, Abubakar Bagudu are also before the lawmakers.
It would be recalled that the House has been holding sectoral debates on different sectors. Last November, the House held a similar retreat on the Defence sector.
In his speech, the FIRS Chairman told the lawmakers that the FIRS is not going to introduce any new taxation or increase the existing tax.
He noted that FIRS is not a revenue-generating agency but only serves as a collector. He added that he is confident that his agency is confident of exceeding the N19.2 trillion as stated in the 2024 budget.
“We are not a revenue generating agency, but a revenue collector. We only collect based on policies,” Mr Adedeji said in his statement.
He informed the lawmakers that the agency is struggling to get all petroleum tax due to oil theft and cuts in production.
At the time of filling this report, the Central Bank Governor was speaking on the FX volatility and lack of liquidity in the market.
Business
Nigeria’s oil minister orders marketers to reduce fuel price
“While we believe that market forces will eventually restore equilibrium, the regulator also has a statutory responsibility to ensure that deregulation does not become an avenue for profiteering. This must be done in line with the extant provisions of the Petroleum Industry Act,”said Lokpobiri.
The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, at the NMDPRA General Counsel and Legal Advisers Forum, directed petroleum marketers to reduce fuel price .
At the two-day forum themed: “Beyond Compliance: Driving Regulatory Certainty and Investment Confidence in Nigeria’s Petroleum Sector, Lokpobiri noted that refiners and marketers have continued to sell petrol at elevated pump prices despite the significant decline in crude oil prices from a peak of $120 per barrel to about $72 per barrel last week.
He said: “Following de-escalation of tensions between Iran and the United States, we expected to see a commensurate downward adjustment in the prices of PMS and other petroleum products.However, that has not yet happened.”
“While we believe that market forces will eventually restore equilibrium, the regulator also has a statutory responsibility to ensure that deregulation does not become an avenue for profiteering. This must be done in line with the extant provisions of the Petroleum Industry Act,”said Lokpobiri.
Business
Naira Exchange Rates Tuesday, 30 June 2026
BLACK MARKET RATES
US DOLLAR (USD) ₦1, 390
GREAT BRITISH POUND (GBP) ₦1,855
EURO (EUR) ₦1, 585
BLACK MARKET RATES
US DOLLAR (USD) Buy ₦1, 390 Sell ₦1, 395
GREAT BRITISH POUND (GBP) Buy ₦1,855 Sell: ₦1,870
EURO (EUR) Buy ₦1, 585 Sell ₦1,605
CANADIAN DOLLAR (CAD) Buy ₦1,030 Sell ₦1,100
SOUTH AFRICAN RAND (ZAR) Buy ₦75 Sell ₦90
UAE DIRHAM Buy ₦350 Sell ₦370
CHINESE YUAN Buy ₦180 Sell ₦200
GHANA CEDI (GHS) Buy ₦95 Sell ₦110
WEST AFRICAN CFA Buy ₦2, 380 Sell ₦2, 460
CENTRAL AFRICAN CFA Buy ₦2, 220 Sell 2,300
AUSTRALIAN DOLLAR Buy ₦800 Sell ₦900
OFFICIAL CBN EXCHANGE RATES
US DOLLAR (USD) ₦1,383. 63
GREAT BRITISH POUND (GBP) ₦1,831.64
EURO (EUR) ₦1,578. 03
SWISS FRANC (CHF) ₦1,710.71
JAPANESE YEN (JPN) ₦8.55
CHINESE YUAN (CNY) ₦203. 65
WEST AFRICAN CFA (XOF) ₦2.40
WEST AFRICAN UNIT ACCOUNT (WAUA) ₦1,872. 07
SAUDI RIYAL (SAR) ₦368.43
SOUTH AFRICAN RAND (ZAR) ₦84.24
OFFICIAL CBN EXCHANGE RATES
US DOLLAR (USD) ₦1,380. 93
GREAT BRITISH POUND (GBP) ₦1,824.90
EURO (EUR) ₦1,577. 58
SWISS FRANC (CHF) ₦1,710.13
JAPANESE YEN (JPN) ₦8.54
CHINESE YUAN (CNY) ₦203. 13
WEST AFRICAN CFA (XOF) ₦2.39
WEST AFRICAN UNIT ACCOUNT (WAUA) ₦1,867. 05
SAUDI RIYAL (SAR) ₦367.72
SOUTH AFRICAN RAND (ZAR) ₦83. 89
BLACK MARKET RATES
US DOLLAR (USD) Buy ₦1, 393 Sell ₦1, 400
GREAT BRITISH POUND (GBP) Buy ₦1,850 Sell: ₦1,870
EURO (EUR) Buy ₦1, 580 Sell ₦1,600
CANADIAN DOLLAR (CAD) Buy ₦1,030 Sell ₦1,100
SOUTH AFRICAN RAND (ZAR) Buy ₦75 Sell ₦90
UAE DIRHAM Buy ₦350 Sell ₦370
CHINESE YUAN Buy ₦180 Sell ₦200
GHANA CEDI (GHS) Buy ₦95 Sell ₦110
WEST AFRICAN CFA Buy ₦2, 380 Sell ₦2, 460
CENTRAL AFRICAN CFA Buy ₦2, 220 Sell 2,300
AUSTRALIAN DOLLAR Buy ₦800 Sell ₦900
Insecurity: NSCIA fumes “Enough is Enough” over attacks on Islam and Muslims in Nigeria
NYSC to be headed by civilians under new reforms
Nigeria’s oil minister orders marketers to reduce fuel price
Tech Expert, Zuckerberg trains with UFC champions, Adesanya, Alexander
Organ Trafficking: Ekweremadu bags 10 years in UK prison
SAINT OBI: Between his marriage and his death
-
Crime3 days agoBREAKING: JTF Rescues Five Kidnap Victims Along Benin-Ore Expressway
-
News3 days agoNDLEA, Army, NAFDAC, Agunechemba, Others Rally Against Drug Abuse in Anambra
-
Business1 day agoNaira Exchange Rates Monday, 29 June 2026
-
Health23 hours agoWHO Confirms 1,300 deaths in Europe heatwaves
-
Crime3 days agoNDLEA Seizes 10,000kg Drugs, Convicts 173 in Niger
-
News23 hours agoJUST IN: Two Trucks, Car Collide on Lagos Expressway, Several Injured
-
Politics23 hours ago2027: Atiku Alleged Plot To Keep ADC Off Ballot
-
News3 days agoDSS Releases, Compensates Man Wrongfully Held Over Boko Haram Links