Economy

Latest Economy News

Petrol price surges 223% to ₦770/litre — NBS

The average price of Premium Motor Spirit, also known as petrol, surged…

Onwubuke Melvin June 20, 2024

Nigeria inflation hits 33.69% in April 2024 – NBS

The National Bureau of Statistics has said the headline inflation increased to…

Onwubuke Melvin May 15, 2024

Interest rates may stay high, says Cardoso

The Governor of the Central Bank of Nigeria, Dr Olayemi Cardoso, has…

Onwubuke Melvin May 14, 2024

CBN impose 0.5% Cybersecurity Levy on electronic transfers

The Central Bank of Nigeria has directed the banks in the country…

Onwubuke Melvin May 7, 2024

10 facts about CBN governor-nominee Cardoso The President, Bola Tinubu, on Friday named Olayemi Michael Cardoso as the substantive Governor of the Central Bank of Nigeria. He is expected to replace the Acting Governor of the CBN Folashodun Shonubu if confirmed by the Senate. Below are 10 facts about him. i. Dr. Olayemi Cardoso hails from Lagos State, a city renowned for its vibrant economic and cultural diversity. ii.His parents were descendants of Brazilian returnees who belonged to prominent families in Popo Aguda, adding a rich cultural heritage to his background. iii. Dr. Cardoso's father, Felix Bankole Cardoso, made history as Nigeria's first indigenous Accountant-General of the Federation in 1963, setting a high bar for public service. iv. His academic journey began at Corona School Ikoyi, where he received his primary education, followed by St. Gregory's College in Lagos for his secondary education. v. Dr. Cardoso's pursuit of knowledge took him to Aston University, where he earned a Bachelor's degree (B.Sc.) in Managerial and Administrative Studies in 1980. vi. He continued his academic journey, earning a Master's degree in Public Administration in 2005 as a Mason Fellow, showcasing his commitment to continuous learning and growth. vii. Dr. Cardoso's career in finance included serving as the former chairman of Citibank Nigeria, where he undoubtedly honed his financial acumen. viii. His commitment to public service led him to serve as the Commissioner for Economic Planning and Budget in Lagos State during President Tinubu's tenure as the governor. ix. Dr. Cardoso is not just a participant in Lagos's economic development but also an architect. He is the founding chairman and co-chair of the Ehingbeti Summit, the Lagos State economic summit. x. Behind the impressive resume, Dr. Cardoso is a family man. He is married with five children and three grandchildren, embodying the values of responsibility and dedication.

CBN gov blames huge palliatives purchase for food price hike

The Governor of Central Bank of Nigeria, Olayemi Cardoso has said that…

Onwubuke Melvin May 2, 2024

FG borrows additional N3.8trn from CBN in six months

The Federal Government in what appears to be Ways and Means has…

Onwubuke Melvin April 26, 2024

Price of rice crashes by over 20% in major markets

The price of rice has fallen by 20-30% within two months on…

Onwubuke Melvin April 24, 2024

Nigeria's external reserves rise to $36.89bn — CBN gov

Naira crashes to one week low at official exchange now N1,234.49/$1

The exchange rate between the Naira and Dollar declined to a week-to-date…

Onwubuke Melvin April 23, 2024

FG, states, LGAs share N1.123trn in March

Alex Omenye The Federation Account Allocation Committee has disclosed the distribution of…

Onwubuke Melvin April 20, 2024

Why Nigeria should be removed from FATF’s grey list – Stakeholders

Stakeholders are requesting that Nigeria be removed from the grey list of…

Onwubuke Melvin April 18, 2024

10 facts about CBN governor-nominee Cardoso The President, Bola Tinubu, on Friday named Olayemi Michael Cardoso as the substantive Governor of the Central Bank of Nigeria. He is expected to replace the Acting Governor of the CBN Folashodun Shonubu if confirmed by the Senate. Below are 10 facts about him. i. Dr. Olayemi Cardoso hails from Lagos State, a city renowned for its vibrant economic and cultural diversity. ii.His parents were descendants of Brazilian returnees who belonged to prominent families in Popo Aguda, adding a rich cultural heritage to his background. iii. Dr. Cardoso's father, Felix Bankole Cardoso, made history as Nigeria's first indigenous Accountant-General of the Federation in 1963, setting a high bar for public service. iv. His academic journey began at Corona School Ikoyi, where he received his primary education, followed by St. Gregory's College in Lagos for his secondary education. v. Dr. Cardoso's pursuit of knowledge took him to Aston University, where he earned a Bachelor's degree (B.Sc.) in Managerial and Administrative Studies in 1980. vi. He continued his academic journey, earning a Master's degree in Public Administration in 2005 as a Mason Fellow, showcasing his commitment to continuous learning and growth. vii. Dr. Cardoso's career in finance included serving as the former chairman of Citibank Nigeria, where he undoubtedly honed his financial acumen. viii. His commitment to public service led him to serve as the Commissioner for Economic Planning and Budget in Lagos State during President Tinubu's tenure as the governor. ix. Dr. Cardoso is not just a participant in Lagos's economic development but also an architect. He is the founding chairman and co-chair of the Ehingbeti Summit, the Lagos State economic summit. x. Behind the impressive resume, Dr. Cardoso is a family man. He is married with five children and three grandchildren, embodying the values of responsibility and dedication.

Economy featured

Nigeria’s FX reserves shrink linked to debt repayments – CBN

The Central Bank of Nigeria has thrown more light on the reasons…

Onwubuke Melvin April 18, 2024

BDCs now buy dollar at N980, sell N1,020 – President

The Association of Bureaux De Change Operators of Nigeria President, Aminu Gwadabe,…

Onwubuke Melvin April 17, 2024