•Lekki deep seaport Despite the hype about the phenomenal offerings of the $1.5 billion Lekki deep seaport and other terminals in Nigeria, no Nigerian port made the top 100 ports in the recent global ranking by Lloyd’s List Intelligence. Asides the Lekki deep seaport, Nigeria has numerous sea terminals like; Apapa port, Tin Can Island [&hellip...
•Bishop Kukah and bags of rice to be distributed as palliative. Bishop Matthew Kukah has faulted the distribution of palliative to Nigerians in the wake of the biting hardship facing the country. The government’s floating of the naira and the removal of fuel subsidy have pushed inflation levels to a new high leading to a […]
•Oniha In the first six months after taking office, 13 new state governors collectively borrowed N226.8bn from domestic and external financiers. This emerged as findings showed that 16 state governors also increased the debt profile of their states by N509.3bn with domestic and external debt of N243.95bn and $298.5m (N265.37bn), respectively, ...
The Central Bank of Nigeria has released a strong affirmation of the security of cash within Nigerian banks, highlighting the country’s banking sector’s soundness. Amid widespread unconfirmed rumours, not originating with the CBN, raising concerns about the health of Nigerian banks, the Central Bank of Nigeria asked the people not ...
•Central Bank of Nigeria A Significant increase in the minimum capital requirements for all banks operating in the country was yesterday announced by the Central Bank of Nigeria (CBN). Acting Director, Corporate Communications, Mrs. Hakama Sidi-Ali, listed requirements for the various categories of banks in a circular, reports The Nation. The ...
•New Naira notes The Central Bank of Nigeria (CBN) has unveiled new minimum capital requirements for banks, pegging the minimum capital base for commercial banks with international authorisation at ₦500 billion. A circular signed by the Director, Financial Policy and Regulation Department, Haruna Mustafa, to all commercial, merchant, and non-i...
•Foodstuffs Nigerians have reacted, stating that the surge in the dollar’s value is not solely responsible for the increase in the prices of goods. Reacting to a post on social media platforms, Nigerians emphasised that the decline in dollar might not affect the prices of goods as there are additional underlying factors influencing it, reports...
•CBN Governor Yemi Cardoso The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has hiked the benchmark interest rate by 200 basis points to 24.75 percent. This is according to today’s communique by the CBN governor Yemi Cardoso after the second MPC meeting of his tenure in Abuja. The new interest rate […]
•Tinubu Indications have emerged that President Bola Tinubu may announce the new minimum wage on May 1 in commemoration of the International Labour Day and backdate its implementation to April. It was gathered that the National Minimum Wage Committee was working to ensure that all negotiations regarding the new rate were finalised before then ...
The Debt Management Office of Nigeria has revealed that Nigeria’s public debt surged to N97.34trn ($108bn) as of the fourth quarter of 2023. DMO disclosed this in a statement made available to journalists today. Public debt is one of the ways for a country to get extra funds for economic development. This way, a country […]
The Frontier is Nigeria’s leading online newspaper. It is published by Okims Media Links Limited headed by Sunny Okim, a veteran journalist who is widely known as The Grandmaster, fondly called so by colleagues and friends for being Nigeria’s pioneer movie journalist.
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