YENAGOA — Gov. Douye Diri, of Bayelsa, has appealed for the quick compliance of Monday’s Abuja Federal High Court judgment which ordered the Federal Government to pay $951 million as a shortfall in oil derivation revenue to the state. Diri made the appeal in his first public reaction to the judgment on Wednesday inside the Executive Council Chambers in Government House, Yenagoa. The News Agency of Nigeria reports that the governor said the money was...

LAGOS — Amidst speculations hampering forex market operation, naira slid down at the parallel market to N502 per dollar. According to data on abokiFX.com, a website that collates parallel rates, the local currency closed at N499 to a dollar on Thursday and lost N3 at midday trading Friday. It also depreciated against Pound and Euro, trading N710 and N608, respectively. Earlier, the Central Bank of Nigeria (CBN) had made efforts to ease naira against other...

The Central Bank of Nigeria’s plan to launch a digital currency in the country has been described by experts as a welcome development. The CBN Governor, Godwin Emefiele, last week Friday, disclosed that digital currency would be introduced in the country. “We are committed in the CBN and I can assure everybody that digital currency will come to life even in Nigeria.” The Head of the Economics Department, Pan-Atlantic University, Lagos, Dr. Olalekan Aworinde, said...