Business
CBN Sells Dollars to BDCs at N1450/USD Amid Forex Market Reforms

In a recent development, the Central Bank of Nigeria (CBN) sold dollars to eligible Bureau De Change (BDC) operators at a rate of N1450 per dollar.
This decision, aimed at meeting demand for invisible transactions, comes after concerns were raised over exclusion of BDCs in previous forex sales totaling $123 million to authorized dealers.
ABCON President Aminu Gwadebe highlighted the exclusivity of banks in accessing these interventions.
The CBN’s move underscores ongoing efforts to reform the foreign exchange market and address retail segment distortions influencing exchange rate premiums.
Business
IPMAN to Reduce Fuel Prices After Dangote Refinery’s Petrol Price Drop

The Independent Petroleum Marketers Association of Nigeria (IPMAN) says it will announce a new, lower petrol price on Monday, following the recent price slash by Dangote Refinery. Dangote Refinery had dropped its ex-depot price for petrol from N840 to N820 per litre on Thursday, prompting IPMAN to consider adjusting its rates in response.
Speaking on the development, IPMAN President, Abubakar Maigandi, said the association is aligning with the move and will meet to finalize a fresh price cut for petrol. “Our members will also reduce their prices,” Maigandi said. “We’ll make an official announcement on the new fuel price after our meeting on Monday.”
As of Friday, filling stations across Abuja were selling petrol at varying prices, between N905 and N945 per litre. While NNPC, NIPCO, AA Rano, and Shema outlets were dispensing around N910, Dangote-linked stations like AP and Ardova offered it slightly lower at N905. Others, including Ranoil, Empire Energy, and Total Emadeb, were selling at the higher end, up to N945.
Business
Cooking Gas Price Increases by 2.18% as Nigerians Pay More to Refill

The cost of refilling a 12.5kg cylinder of cooking gas in Nigeria went up slightly in May 2025, rising by 2.18% compared to the previous month. The average price now stands at N20,709.11, up from N20,268.06 recorded in April. This update was captured in the latest Liquefied Petroleum Gas (LPG) Price Watch report for May, released by the National Bureau of Statistics (NBS).
According to the report, Delta State topped the list with the highest refill price at N23,356.56, followed by Abia at N22,953.01, and Ebonyi at N22,943.30. On the other hand, residents in Yobe, Lagos, and Kebbi states paid the least, with refill prices of N18,500, N18,536, and N18,606.60, respectively.
When compared to the same period last year, gas prices have jumped significantly, rising by 32% from N15,627.40 recorded in May 2024 to the current average. The NBS is yet to release figures for June 2025.
Business
GTCO Announces Nationwide Early Closure on June 30 for Half-Year Audit

Customers of Guaranty Trust Holding Company (GTCO) across Nigeria should brace for early branch closures on Monday, June 30, 2025, as the banking group kicks off its routine half-year audit.
In an official announcement shared on their verified X (formerly Twitter) page, GTCO informed customers that all their branches nationwide will stop attending to walk-in customers earlier than usual to allow for internal review processes.
The bank assured the public that this temporary adjustment is strictly for operational reasons tied to their mandatory half-year audit, a common practice among financial institutions to check financial records, processes, and compliance levels.
While in-person services will pause earlier that day, GTCO encouraged customers to make use of their digital banking platforms. Options such as internet banking, mobile apps, ATMs, and USSD codes, which will remain available 24/7 for essential banking transactions.
-
Sport9 hours ago
Napoli and Galatasaray Struggle to Agree on Osimhen Transfer Deal
-
Politics9 hours ago
“Buhari Would Have Supported EndSARS Protest If It Was Peaceful” – Garba Shehu
-
Sport9 hours ago
Ronaldo Welcomes Jorge Jesus as New Al-Nassr Coach
-
Sport8 hours ago
Jorge Jesus Says Ronaldo Is the Reason He Joined Al-Nassr
-
Entertainment9 hours ago
AY Says He’s Still Shining and Popular Because of Grace
-
Sport35 minutes ago
Galatasaray Stops Pursuing Osimhen After Napoli Ask for Too Much Money
-
Entertainment24 hours ago
Love Island USA Season 7 Ends with a Bang: Amaya and Bryan Crowned Winners
-
Entertainment38 minutes ago
Liverpool Wants Alexander Isak but May Go for Ekitike If Newcastle Refuse to Sell