The house of representatives has asked the Central Bank of Nigeria (CBN) to enforce the use of coins as a legal tender. The legislators said the use of coins will tackle price inflation and...
Read More
2 Minutes
5 Minutes
Massive job cut looms as dollar hits a new all-time high
With the money market, the lingering foreign exchange scarcity in the country has continued to worsen even as the exchange rate on the parallel market is inching towards N590/$1, The PUNCH reported. The development...
Read More
1 Minute
Naira plunges to N585 per dollar at parallel market
Nigerian naira has dropped to N585 against the dollar at the parallel section of the foreign exchange market. The figure represents N4 or 0.7 percent depreciation compared to the N581 it traded last week....
Read More
1 Minute
Why we’re borrowing more to fund petrol subsidy – FG
The federal government has disclosed that it will use $2.2 billion of the fund raised via eurobond to cater for petrol under-recovery costs. According to the government, it would also target more local borrowing...
Read More
4 Minutes
Inside Osun’s Debt Crisis: How Ex-gov Aregbesola’s N200billion loan landed State in – N375m allocation
The financial crisis facing the Osun State Government has continued to bite harder as the State’s fiscal receipts from the Federal Accounts and Allocation Committee ( FACC) got depleted last month following appropriate deductions...
Read More
2 Minutes
2022: CBN may increase interest rate – Report
A new report has said likely stronger dollar demand will convince the Central Bank of Nigeria of the need to tighten monetary conditions as with the trend across global central banks to manage foreign...
Read More
3 Minutes
CBN: FG spent $1.68bn on food imports in nine months
The Federal Government spent $1.68bn on food importation from January to September last year. The Central Bank of Nigeria disclosed this in a report on sectoral utilisation of foreign exchange for the...
Read More
2 Minutes
Nigerians Should Expect Modest Increases In Taxes, Levies – Says Zainab Ahmed
Minister of finance, budget and national planning, Zainab Ahmed has disclosed that there may be modest increases in taxes and tariffs on certain businesses and individuals over the medium term. Ahmed while addressing stakeholders...
Read More
6 Minutes
Eniola travels hub unveils Tourism course, urges Information & Culture Ministry to invest on Karshi Waterfall
Tourism: Tourism plays a crucial role in the development and growth of all countries, especially the developing ones, creating a general positive impact on the economic and social situations for the target country.Tourism is...
Read More
3 Minutes
Petrol to sell for N340 after Subsidy Removal – NNPC
Going by the words of Nigerian National Petroleum Company Limited (NNPCL) Group Managing Director/ Chief Executive Officer (GMD/CEO) Mele Kyari, petrol will sell for between N320 and N340 per liter from February, next year....
Read More