October 4, 2023
  • October 4, 2023

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Fuel Hike: CBN provides update on distribution of grains nationwide

by on July 24, 2023 0
The Central Bank of Nigeria reports that it has distributed grains around the country in accordance with President Bola Ahmed Tinubu’s order to promote food security, amid efforts to mitigate the effects of fuel price increases and growing inflation. The CBN’s Director of Corporate Communications, Abdulmumin Isa, reportedly told Daily Trust Newspaper that the... Read More

Emefiele’s detention is threatened by the court over a $53 million Paris Club return.

by on July 20, 2023 0
Godwin Emefiele, the suspended governor of the Central Bank of Nigeria, was threatened with an arrest warrant on Wednesday by the Federal High Court in Abuja for failing to show up in court to explain the facts behind an unpaid $53 million legal fee related to the Paris Club return. Emefiele’s appearance was mandated... Read More

Nigeria’s inflation rises to 22.79 per cent in June – NBS

by on July 17, 2023 0
According to data from the National Bureau of Statistics, Nigeria’s inflation rate increased to 22.79% in June from 22.41% in May. In its most recent report on the consumer price index, NBS revealed this on Monday. Comparing the rate from the previous month, the inflation statistic shows increases of 0.38 percent points. The headline... Read More

Austria skips OPEC conference following media ban

by on June 30, 2023 0
The Austria Foreign Minister, Alexander Schallenberg won’t attend an OPEC conference in Vienna next week after the oil cartel decided to prohibit a number of news organizations from participating. Reporters from Reuters, Bloomberg, and the Wall Street Journal were denied media access by OPEC in order to cover a meeting between OPEC energy ministers and... Read More

CBN sets N50k daily limit on contactless payments

by on June 28, 2023 0
Payments made by contactless devices, such as prepaid, debit, and credit cards, key fobs, mobile electronic devices, and wearable devices, are limited to N50,000 by the Central Bank of Nigeria (CBN). According to CBN Director of Payments System Management Musa Jimoh, the decision was made because contactless payments carry dangers, and “verification and authorization... Read More

Subsidy removal, forex unification painful but key to growing Nigeria’s economy– World Bank

by on June 27, 2023 0
The Federal Government’s plans for eliminating subsidies and unifying currency rates, according to the World Bank, are still essential to reviving the country’s economy. The remark is made in light of President Bola Ahmed Tinubu’s administration’s elimination of fuel subsidies and unification of the foreign exchange market measures. Dr. Subham Chadhuri, Country Director of... Read More