More facts emerged over the Sunday looting of a private warehouse in the Karmo community of the Federal Capital Territory (FCT). It was reported how some hoodlums in their numbers attacked a government warehouse in Gwagwa town, as well a private one, owned by a trader in neighbouring Karmo town, all located within Abuja Municipal […]
The depreciation of the naira has caused the country’s foreign loans to balloon. Nigeria’s external debt stock (debt owed to foreign entities) has increased by N28tn due to the devaluation of the Nigerian naira against the United States dollar, findings reveal. According to the latest debt profile data published by the Debt Management Office, ...
The House of Representatives, yesterday, called for the arrest of the top executives of Binance Holdings Limited, which is facing fraud allegations. Binance, a cryptocurrency exchange platform, was accused of exploiting the Nigerian currency, Naira, leading to its free fall in value, reports The PUNCH. The company is, in addition, facing alleg...
The Petroleum and Natural Gas Senior Staff Association of Nigeria, PENGASSAN, has said the decision to float the nation’s currency is the major cause of the hardship, mass suffering, and other economic woes confronting the country, describing it as the worst economic decision-taking by the government. President of PENGASSAN, Engineer Felix Osi...
•Obaseki Edo State governor, Mr Godwin Obaseki, has criticised the policies recently introduced by the Central Bank of Nigeria (CBN), saying they cannot support the economic growth of the country. The governor said the interest rates that are raised would hinder small business owners from getting loans to expand their businesses which are detr...
The National Bureau of Statistics (NBS) has reported that the average retail price for refilling a 5kg cylinder of Liquefied Petroleum Gas (cooking gas) increased by 3.55 percent on a month-on-month basis to N5,139.25 in January 2024 from N4,962.87 recorded in December 2023. The NBS report said that on a year-on-year basis, the price increased...
•Tinubu and Cardoso A rights group, Nigerian Unemployed Youth Vanguard, has asked President Bola Tinubu to immediately restructure the leadership of the Central Bank of Nigeria (CBN) while describing as unbearable, the harsh economic condition being inflicted on Nigerians by some policies of the apex bank. Addressing journalists in Abuja today...
•CBN Governor Yemi Cardoso The Central Bank of Nigeria (CBN) has issued a warning message to Nigeria and other West African nations regarding trends in borrowing practices. Traditionally, nations often relied on loans from the Paris Club, a group of creditor countries, reports The Nation. However, the CBN has observed a significant shift towar...
•Peter Obi Amidst the food price hike and economic hardship besetting the nation, the government of Ukraine recently donated 25,000 tonnes of wheat as emergency food assistance to 1.3 million vulnerable, crisis-affected people in Nigeria’s northeastern region, a development which Mr Peter Obi has now described as disheartening. Obi who was the...
•Wale Edun The federal government has directed importers to regularise duty payments and clear improperly imported vehicles within 90 days. Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, directed the Nigeria Customs Service (NCS) to allow affected vehicle owners and their agents to do so within the stipulated time...
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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