Lagos, Niger partner on food production and supply
Melvin Onwubuke The Governors of Lagos, Babajide Sanwo-Olu and Niger state, Mallam Umar Mohammed Bago have endorsed a Memorandum of Understanding…
Economy
Nigeria needs more stringent measures to secure macroeconomic stability – Fitch
By Melvin Onwubuke Fitch Ratings Inc. has highlighted the need for Nigeria to adopt more rigid monetary tightening measures to secure macroeconomic…
Naira rises against dollar, hits seven-day high
For the third day in a row, the naira and dollar increased in value, ending the day on the official market at…
Naira devaluation worsens Nigeria’s debt woes
Nigeria’s foreign debt has significantly increased as a result of the naira’s depreciation. NewsNowNigeria reported that, the depreciation of the Nigerian naira…
Senate probes CBN officials over N30tn loan
By Melvin Onwubuke The Senate has announced that, it will question some officials of the Nigeria Central Bank on how N30tn…
CBN sells 1yr OMO bills at record 21.5%
Melvin Onwubuke The Central Bank of Nigeria sold a historical N1.056 trillion in OMO bills on Friday with the yield on the…
FX crisis drives business cost to highest in 10 years – Report
Melvin Onwubuke Nigeria businesses are faced with the highest increase in input cost in a decade, as a result of the weakness…
Nestle Nigeria reports N104bn loss in 2023
By Melvin Onwubuke Nestle Nigeria Plc has announced a loss before tax of N104 billion for the year 2023. This was disclosed…
FG constructs off grid plants to tackle energy shortage
By Melvin Onwubuke The Federal Government has announced, it is planning to construct a off-grid power plants to address energy poverty…
CBN gov Cardoso vows crackdown on illicit funds via Binance
The Governor of the Central Bank, Yemi Cardoso, has restated the government’s determination to monitor and put a stop to the illicit…
CBN resumes sales of FX to BDC operators
The Central Bank of Nigeria has made a firm decision to close the growing exchange rate difference in an effort to address…
CBN raises interest rate to 22.75%
The Central Bank of Nigeria on Tuesday, implemented the first increase in its benchmark interest rate, the Monetary Policy Rate, in eight…