House Of Reps Raise Limit On CBN Loans
THE House of Representatives, amidst protest on Sunday, approved an amendment to the Central Bank of Nigeria Act, raising the ceiling of Ways and Means Advances from the apex bank from 5 to 15 per cent. The House gave the approval at an emergency…
We don’t determine exchange rates in Nigeria – IATA
The International Air Transport Association has released a statement clarifying that it is not responsible for the exchange rate applied to international flight tickets in Nigeria. This comes after reports suggested that IATA was behind the current hike…
JUST IN: Inflation rate rises to 22.22%
Nigeria’s inflation rate increased for the fourth consecutive month to 22.22 per cent in April from the 22.04 per cent recorded in March. This is according to the Commodity Price Index report published on Monday by the National Bureau of Statistics. The…
Africa Intensifies Energy Transition Efforts Amid Climate Change Concerns
AS the global race towards achieving the United Nations carbon-free world set for 2050 intensifies, African countries have ramped up investments to tackle climate change in the continent. OPEOLUWANI AKINTAYO examines the huge investment the continent…
IMF Cautions As e-Naira Transactions Hit N1.4m
THE Managing Director of the International Monetary Fund, Kristalina Georgieva, has cautioned about the unforeseeable “consequences” that could be brought about by the retail central bank digital currencies. Georgieva expressed her concern about retail…
No Plans To Phase Out Redesigned Naira Notes — CBN
THE Central Bank of Nigeria (CBN) says it has no plans to phase out the redesigned higher denomination of the banknotes. This is coming despite complaints about scarcity of 1000, 500, and 200 notes. Isa Abdulmumin, CBN’s acting director, Corporate…
It’s painful tradition prevents me from seeing my mum – Monarch
Oore of Otun in the Moba Local Government Area of Ekiti State, Oba Adekunle Adeagbo, tells ABIODUN NEJO that traditional institutions should be organised in a way to have roles to play for the peace and development of the town What kind of childhood did…
Cash scarcity crippled Nigeria’s economy, says UN
The shortage of the naira in recent times crippled the Nigerian economy, the United Nations has disclosed. It stated that the informal sector felt the brunt of the scarcity the most. It noted that the continuing decline of oil production is set to impact…
Nurses, Midwives Cries Out Over Exclusion From FG’s 40% Pay Rise
THE National Association of Nigerian Nurses and Midwives, Federal Health Institution (NANNM-FHI) sector has bemoaned over the exclusion of its members in the recent 40 per cent pay rise for federal workers. In a statement issued by Mr Morakinyo-Olajide…
How Nigeria can beat debt trap – Rewane
The Managing Director and Chief Executive Officer of Financial Derivatives Company Limited, Bismarck Rewane, has outlined three ways Nigeria can beat the debt trap. The three options include approaching the International Monetary Fund for a policy…