Blog
The requirements for the extradition of pro-Biafran agitator, Simon Ekpa, to Nigeria have been forwarded to the Government of Finland, the Chief of Defence Staff, General Christopher Musa (CDS), has said. “Well, I’m sure he is cooling off somewhere,” the defence chief said on Channels Television‘s 2024 Year-In-Review programme on December 31, 2024. “Legal action is going to […]
Financial analysts and economic experts are optimistic of a stronger value of the Naira to the US dollar as well as lower premium motor spirit (PMS)/petrol prices in Nigeria in 2025, driven by improved foreign exchange inflows and reduced fuel imports. Analysts anticipate that increased oil production and domestic refining capabilities will ease pressure on the […]
Investors who took a long position in eight major African stock markets made more money in Egypt, Nigeria and Ghana than any other, with each surpassing 100 percent cumulative returns since 2014, BusinessDay trend watch shows. The eight major markets tracked are: Côte d’Ivoire (BRVM-CI), Nigeria (NGX-ASI), Egypt (EGX-30), South Africa (JSE-ASI), Morocco (MASI), Kenya […]
As the end of year festivities commence in full, the Central Bank of Nigeria (CBN) has charged bank customers to report difficulty in getting cash at banks or Automated Teller Machines (ATMs) effective Sunday December 1, 2024. The apex bank said it would as part of its Payment System 2025 goals, be reviving the eNaira to foster […]
The Monetary Policy Committee of the Central Bank of Nigeria has raised the country’s interest rate by 25 basis points to 27.50 per cent in November from 27.25 per cent in September 2024. This followed the meeting of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN). The monetary policy rate measures […]
The Governor of Imo State, Hope Uzodimma has approved the implementation of the N70,000 minimum wage for workers in Imo State. The approval is in line with the federal government’s directive for a pay raise for workers nationwide, in July. The decision according to the Ministry of Information and Strategy for the new wage for […]
Nigeria’s Gross Domestic Product (GDP) has grown by 3.46 per cent in real terms in the third quarter (Q3) of 2024 on a year-on-year basis. This is according to a Monday GDP report published by the National Bureau of Statistics (NBS) which showed that the growth represents a 3.19 percent increase from the one recorded […]
The Central Bank of Nigeria (CBN) has warned the general public to be cautious of fraudulent ‘Swift’ messages and unsubstantiated claims regarding foreign currency transfers allegedly withheld by Nigerian banks or the apex bank itself. The warning follows a surge in petitions from private individuals, law firms, government agencies, and private entities claiming that foreign […]
The Federal Government has revealed that a poor maintenance culture and inadequate and aged equipment, among other challenges, are the underlying reasons for the incessant multiple collapses of the national power grid witnessed in recent months.It also stated that the high voltage of electricity surpassing the capacity of its equipment caused the blackout witnessed on […]
Donald Trump’s return to the White House as the 47th President of the United States, following a dramatic victory over Kamala Harris, brings new questions for Nigeria’s economic outlook. Trump’s economic policies, built around “America First,” prioritize domestic energy production, tariffs on imports, and pushing for low interest rates. These policies could have a significant impact […]
