The Nigerian House of Representatives has said it is set to legalise the use of Cannabis plant, popularly known as Indian Hemp, in the country for economic benefits.

The Nigerian National Petroleum Corporation (NNPC) is yet to take a position on new price of petrol as it awaits outcome of Federal Government’s discussion with Labour on fuel subsidy, the Nation reports. 

 The Central Bank of Nigeria CBN has removed the N379/$1 official rate from its website, a development which suggests gradual harmonisation of exchange rates and tactical devaluation of the naira.

President Muhammadu Buhari will on Sunday, depart Abuja for Paris, France.

Leading investors in Nigerian Free Trade Zones have threatened to commence divestment from the zones and have called on the board of Nigeria Export Processing Zones Authority(NEPZA) to summon a stakeholders’ meeting.

The Nigerian naira fell to a record low on the official market yesterday, with lenders quoting it 7.7% weaker against the dollar, following a currency devaluation aimed at unifying multiple exchange rates.

The management of Kaduna Electric has said the current power outage being experienced by residents of Kebbi North and Central is due to the tripping of a transmission line.

The price of Bitcoin has dipped more than 7% after CEO of Tesla, Elon Musk tweeted the suspension of bitcoin as a payment option for its vehicles.

The amount of dollars which Nigerians can pay into their domiciliary accounts has been reduced from $10,000 to $5,000 per month.

YouTube announced Tuesday a $100 million fund that will pay the most popular creators on its nascent TikTok competitor, Shorts.

President Muhammadu Buhari has directed that a ministerial delegation be sent to Ghana to resolve the prolonged conflict between Nigerian traders and Ghanaian authorities.

Nigeria recorded a 75% increase in investment during the the first quarter of 2021.