•Prof Olofin (R) addressing Reporters A Professor of Economics, Professor Sam Oladapo Olofin has called on the federal government and other major stakeholders in economic society across the country to save naira from imminent collapse. The former special adviser to the President on Economic Matters, Olofin while speaking at a public lecture Or...
The federal government has moved against online platforms of Binance and other cryptocurrency firms over alleged manipulation of the forex market. Binance is a digital assets platform which serves as a window for peer to peer transaction allowing users to advertise interest to sell or buy currencies of their choice, reports The Nation. On Febr...
•Port Harcourt refinery The federal government has said the Port Harcourt Refinery is 80 per cent completed and would produce two million litres of Premium Motor Spirit, otherwise known as petrol, and 2.2 million litres of diesel per day upon resuming operations. In a statement by the Director, Press and Public Relations in the Federal [&helli...
•Akpabio Governors yesterday denied a claim by Senate President Godswill Akpabio that the federal government disbursed N1.08trillion to states to address the food crisis in the country. During the inauguration of the renovated central mosque in the Iseyin area of Oyo State yesterday, the state governor, Seyi Makinde, said as the Vice-Chairman ...
The Federation Account Allocation Committee (FAAC) has shared a total sum of N1,149.816 trillion January 2024 Federation Account Revenue to the Federal, States and Local Governments. The revenue was shared at the February 2024 meeting of the Federation Accounts Allocation Committee (FAAC) chaired by the Minister of Finance and Coordinating Min...
•Tinubu President Bola Tinubu yesterday defended his administration’s reforms, saying there is no going back. Tinubu on his inauguration declared an end to the fuel subsidy regime and later floated the naira alongside a slew of reforms. The moves have triggered a hike in the cost of living in Nigeria as the country’s currency lost […]...
•Governor Dapo Abiodun In a bid to cushion the effect of the rise in the prices of goods in the country, the Ogun State Government has purchased 100 truckloads of rice to be sold at cheaper rates to residents of the state. The state governor, Prince Dapo Abiodun, stated this yesterday while speaking at a […]
•Yemi Cardoso and CBN logo The Senate has confirmed the appointment of 12 persons as members of the Monetary Policy Committee of the Central Bank of Nigeria (CBN). This confirmation comes after a report of the Committee On Banking, Insurance and other Financial Institutions Committee of the CBN was considered during plenary today, reports Chan...
The naira gained marginally against the United States dollar at the Nigerian Autonomous Foreign Exchange Market on Tuesday, closing at N1,542.58/$ from N1,551/$ recorded on Tuesday. The rate represents a 2.9 per cent appreciation from the N1,598.54 traded on Monday and a meagre 0.58 per cent against Tuesday’s rate, reports The PUNCH. According...
Licensed Bureau De’Change operators have expressed support for government’s crackdown on persons selling and buying foreign currencies on the streets. President of the Association of Bureau De’Change Operators of Nigeria (ABCON) Aminu Gwadabe, advised that the ongoing raids and arrests of such traders should not be misconstrued, reports The Na...
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