The Naira on Friday remained stable against some major international currencies at the official and parallel markets. Naira, at the official market traded for N197 to a dollar, the same market value at the beginning of the week.
At the Bureau De Change (BDCs), otherwise known as the parallel market, the Naira was firm, selling at N221 to a dollar. At the black market, the Naira sold for N218 against the dollar from the N220 it traded at the beginning of the week.
Read more @ Sweetcrude Reports
Nigeria reportedly lost about $10 billion in revenue which should have accrued to the country from mergers and acquisitions (M&As) by multinational oil companies over 10 years ago.
A report of an investigation by the Committees on Justice and Finance of the House of Representatives, exclusively obtained by THISDAY, reveals how oil companies manoeuvred their way and avoided payments of fees they were under obligation to pay.
The report also shows that Nigerian officials were willing collaborators as they failed to make demands from these companies monies due to the country.
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The Naira on Friday remained stable against some major international currencies at the official and parallel markets. Naira, at the official market traded for N197 to a dollar, the same market value at the beginning of the week.
