This is according to the Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, at a press briefing at the end of the 296th Monetary Policy Committee (MPC) meeting in Abuja on Tuesday. Cardoso noted that the external reserves rose from $34.70 billion as of the end of June 2024 to $37.05 billion,…
Senate President Godswill Akpabio has said the newly approved minimum wage applies to all workers across both public and private sectors, including maids and other domestic staff. Akpabio Akpabio said this while passing the new minimum wage bill into law on the floor of the senate.The bill was speedily passed by both chambers of the…
The Nigerian senate yesterday passed the amendment bill of the 2023 Finance Act and increased the windfall levy on banks’ foreign exchange revaluation gains from 50% as proposed by the President to 70%. The Chairman of the Senate Committee on Finance, Sen. Sani Musa read the report of the Committee on Finance before it was…
The Federal Government of Nigeria has announced a 12.7% reduction in the allowances of Nigerian scholars studying abroad in countries like Russia, Morocco, and Algeria.The Federal Government reduces allowances for stranded foreign scholars by 12.7% due to economic hardships, affecting students in Russia, Morocco, and other countries. The cuts have sparked frustration among scholars and…
The Central Bank of Nigeria has disclosed that it is targeting a $1 trillion economy by 2030 while re-stating its commitment to ensure economic stability. The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has reaffirmed the bank’s commitment to implementing policies that foster sustainable growth in the financial markets while ensuring…
The Federal Government’s decision to increase the minimum wage to N70,000 is a welcome development for Nigerian workers. This new wage, agreed upon after negotiations between President Bola Tinubu, organized labor, and the private sector, represents a significant improvement from the initial offer of N62,000. The journey to this point has been long and arduous,…
President Bola Tinubu on Friday in Abuja commended international energy company, ENI, for its proposed new investment in Nigeria, reiterating his vision of making the nation more globally competitive and an investment destination. The President said that by exploring the possibilities of innovative thinking, strategic planning, new technology, and research into best practices, his administration’s…
In a statement released by the company’s spokesperson, Anthony Chiejina, on Friday, Dangote Industries Limited called reports of producing high-sulfur diesel “mischievous and aimed at tarnishing our reputation.”Reacting to this report, Dangote said the allegation was false, baseless, and mischievous.The spokesperson said the refinery is designed to produce top-quality petroleum products that meet strict international…
Lagos State government has dismissed claims about implementing a monthly environmental sanitation exercise and movement restrictions starting in July. In a statement on Wednesday, Adekunle Adeshina, Director of Public Affairs for the Commissioner of Environment, Tokunbo Wahab, said the report is false and that the state has no plans to introduce such measures. According to…
A final-year student Francis Palowei, at Niger Delta University, was fatally stabbed at a popular student hangout spot in Amassoma, Bayelsa State, Despite the tragic incident, Niger Delta University’s academic activities continue as usual, with the police actively searching for the perpetrators The incident has caused significant outrage, especially as Palowei was scheduled to graduate…
