The Central Bank of Nigeria (CBN) says law enforcement agencies are investigating $2.4 billion unverified foreign exchange claims.Governor of the CBN Olayemi Cardoso disclosed this while speaking during a press conference on Tuesday after the 294th meeting of the monetary policy committee (MPC) in Abuja.On February 5, the CBN governor said he inherited a $7…
The Monetary Policy Committee of the Central Bank of Nigeria (CBN) has raised the monetary policy rate (MPR), which benchmarks interest rates, from 22.75 percent to 24.75 percent. Olayemi Cardoso, CBN’s governor, announced the rate adjustment at a news conference on Tuesday during the committee’s 294th meeting in Abuja. The MPR is the baseline interest…
The National Hajj Commission of Nigeria, NAHCON has adjusted the cost of Hajj to reflect the current realities of foreign exchange rate, even as the Federal Government’s intervention gave a slight boost to intending pilgrims who had completed the initial deposit of N4.9million Consequently, the commission has requested intending pilgrims to make additional payment of…
The Tertiary Education Trust Fund, TETFund, said yesterday it has so far spent over N23 billion to fund 912 research projects across the country. TETFund’s Assistant Director, Research and Development, R&D, Dr. Hadiza Ismail, disclosed this at a validation workshop on “Strengthening Research and Innovation Funding Agencies in West Africa,” in Abuja yesterday. Ismail, who…
A middle-aged father,Kenneth Nwangwu has been sentenced to ten years in prison by the Children, Sexual, and Gender-based Violence Court at High Court Awka for defling his biological 9-year-old daughter, his only child. According to reports, the judgment was issued in a three-count accusation brought against the defendant by the state government following convincing evidence…
In a bid to further crash the FX rate, the Central Bank of Nigeria (CBN) has begun the sales of the second tranche of foreign exchange (FX) to eligible Bureau De Change (BDCs) to meet retail market demand. In a memo on Monday to the President Association of Bureau De Change Operators of Nigeria the…
The Non-Academic Staff Union of Educational and Associated Institutions, (NASU) and the Senior Staff Association of Nigerian Universities (SSANU) have ended their one-week warning strike. They have therefore directed their members to resume work on Monday March 25. The leadership of the National Association of Academic Technologists (NAAT) also directed its members to resume duty…
About three days to the close of payment deadline, the National Hajj Commission of Nigeria (NAHCON) has announced N8.5 million as a fresh fare for the 2024 Hajj. This is an increase of N3.5 million over the N4.9 million earlier announced. It also disclosed this in a statement on Sunday, adding that those who had…
The Ogun State Traffic Compliance and Enforcement Corps (TRACE) said traffic offenders, particularly route violators (those driving against traffic), would be fined and undergo psychiatric tests as part of corrective measures against the offence. TRACE commander and Chief Executive Officer (CEO), ‘Seni Ogunyemi, stated this during a visit to his office at Ibara by the…
Nigerian Exchange Limited, Central Bank of Nigeria (CBN) and other capital market operators have organised a symposium to boost the financial literacy level of some students in Lagos to mark the 2024 Global Money Week (GMW). GMW is an annual global awareness-raising campaign on the importance of ensuring that young people, from an early age,…
