The Naira experienced a depreciation on Monday, dropping to N1,770 per dollar in the parallel market, compared to N1,750 per dollar observed last weekend. In a similar trend, the Naira fell to N1,675.62 per dollar in the Nigerian Autonomous Foreign Exchange Market. According to data from FMDQ, the indicative exchange rate for NAFEM increased from…
In a significant move to tackle sexual harassment and gender-based violence in Nigeria’s tertiary institutions, the Federal Government has directed universities to establish Sexual Assault Referral Centres on campuses. The Minister of Women Affairs, Imaan Suleiman-Ibrahim, made this announcement during a national summit in Abuja organised by Alliances for Africa in collaboration with the Committee…
The Association of Bureaux De Change Operators of Nigeria has announced that the Central Bank of Nigeria has extended the deadline for Bureau de Change operators to meet the new recapitalisation requirements by an additional six months. This extension, confirmed by ABCON President Aminu Gwadebe during a virtual general meeting on Monday, moves the new…
Kennedy Ubeku, a Korea-based Nigerian businessman, has commended Adegoke Fayoade, the Assistant Inspector General of Police (AIG), Zone 2 command, Lagos, for rejecting a N174 million bribe from a suspect. Mr Ubeku made the remark in an interview in Lagos on Sunday and said that the act was an inspiration for others to emulate. CSP…
Micro, Small, and Medium Enterprises (MSMEs) in the ECOWAS region, under the ECOWAS Small Business Coalition (ESBC), have called for the establishment of a railway corridor linking all member countries, alongside the existing road network. The proposal was made at the end of their inaugural exhibition and workshop, which took place from November 21 to…
A near-tragic accident unfolded on Monday morning at Mile 2, Lagos, when a 40-foot container fell onto a Toyota Camry with registration number LSR 293 HJ. The driver of the vehicle, whose identity remains unknown, narrowly escaped death. The mishap occurred around 8 a.m. along the route to Apapa Ports, causing severe traffic disruptions in…
The Senate has revealed that President Bola Tinubu is expected to present the 2025 budget to the National Assembly within the week. This announcement was made by the Senate spokesperson, Yemi Adaramodu, APC, Ekiti South, who noted that preparations were already in motion to facilitate this critical legislative process. Speaking on the matter, Adaramodu said,…
The Federal Government’s expenditure report for the first eight months of 2024 highlights the significant impact of debt servicing on Nigeria’s finances. Between January and August, ₦7.41tn was spent on debt servicing, surpassing the pro-rata budget of ₦5.51tn by 34.4%. This amount represents 89.6% of the ₦8.27tn budgeted for debt servicing this year, with the…
Airline Operators in Nigeria have faced criticism for calling for the confirmation of Capt. Chris Najomo as the Director-General of the Nigerian Civil Aviation Authority. In a statement signed by Vice President, Allen Onyema and spokesperson Prof. Obiora Okonkwo, the AON argued that Najomo’s administration is the best in the aviation industry. The crisis within…
The Dangote Petroleum Refinery has announced a two percent reduction in the price of Premium Motor Spirit also known as petrol, lowering it from N990 per litre to N970. This gesture, according to the refinery, is a token of appreciation to Nigerians for their support and an acknowledgment of the government’s role in fostering domestic…
