The latest Food Security report by the World Bank has highlighted the precarious situation facing several states in Nigeria, particularly in the North-west and North-east regions, due to insecurity and armed conflicts. The report projects that seven states, including Borno, Adamawa, Kaduna, Katsina, Yobe, Sokoto, and Zamfara, will be at crisis food security levels in…
Central Bank Governor Oluyemi Cardoso disclosed that Nigerians spent over $40 billion on accessing education and healthcare abroad between 2010 and 2020, which has contributed to the pressure on the country’s currency, the naira. Speaking at a session before the House of Representatives, Cardoso highlighted the significant impact of Nigerian students studying abroad, estimated to…
Finance Minister Wale Edun and Budget Minister Atiku Bagudu have offered reassurances to Nigerians that President Bola Tinubu is actively addressing the high cost of living that citizens are currently facing. They made these remarks during a sectoral debate organized by the House of Representatives for the finance sector and stakeholders on the current cost…
During a meeting with wives of governors at the presidential villa in Abuja, First Lady Oluremi Tinubu reassured Nigerians that the current hardships would soon be overcome. She expressed optimism for 2024, highlighting prospects for peace, progress, prosperity, and greater achievements for all Nigerians. Tinubu emphasized the need for collective efforts during challenging times, emphasizing…
In a significant development for Nigeria’s economy, Governor Yemi Cardoso of the Central Bank of Nigeria (CBN) has revealed that foreign portfolio investors (FPIs) are displaying renewed interest in the Nigerian market. This announcement, made during an exclusive interview with Arise Television, signals a potential turning point in the country’s financial market attractiveness. Governor Cardoso…
An audit report from the Office of the Auditor-General of the Federation (OAuGF) has revealed that Nigeria’s Supreme Court violated financial regulations by spending over N12 billion over a five-year period. The report, released in December 2023, recommended that the Chief Registrar of the court recover and remit these funds to the treasury. The audit…
Tope Fasua, an economist and appointee of President Bola Tinubu’s government, has raised concerns about the conduct of commercial banks in Nigeria, suggesting that their licences should be revoked due to their detrimental impact on the economy. As the special adviser on economic affairs in the office of Vice President Kashim Shettima, Fasua expressed his…
The Federal Government has made another adjustment to the Nigeria Customs Service exchange rate for importing goods, marking the second change within 24 hours. Normally, the exchange rate for Duty collection is determined by the Central Bank of Nigeria (CBN). The importation exchange rate, which stood at N953 per dollar at the end of January,…
The National Hajj Commission of Nigeria (NAHCON) has announced the 2024 Hajj fare for intending pilgrims from the Southern departure centre, fixing it at N4.8 million. Jalal Arabi, the chairman of NAHCON, disclosed this in a statement released by Fatima Sanda-Usara, the commission’s spokesperson, in Abuja on Saturday. Arabi highlighted that the commission had secured…
Alhaji Jibrin Ndace, the Director General of the Voice of Nigeria (VON), has announced that the Federal Government is set to introduce the National Values Charter in the near future. This revelation was made during his address on behalf of the Minister of Information and National Orientation, Alhaji Mohammed Idris Malagi, at the 2024 Nigeria…