The Central Bank of Nigeria (CBN) has addressed concerns about a shortage of currency notes in the country, emphasising that there is an adequate supply to support economic activities. CBN’s Director of Corporate Communications, Isa AbdulMumin, provided this reassurance via the CBN’s official X account, formerly known as Twitter. AbdulMumin stated that the apparent shortage…
Mrs. Chioma Nweze, the Senior Special Assistant to President Ahmed Tinubu on Community Development, has expressed concern over the security challenges in the South East region of Nigeria. She revealed that she has been working closely with the Governors of the zone to address these security issues. Nweze made this statement in Abakaliki, where she…
The outlook for the Nigerian naira has improved due to reports that the Central Bank of Nigeria (CBN) is planning to fulfil its forward FX obligations, along with a recent dovish statement from the U.S. Federal Reserve (Fed). Unverified reports suggest that the CBN will fulfil 75–80% of the outstanding matured foreign exchange forwards through…
President Bola Tinubu, during the opening of a three-day cabinet retreat, announced his intention to sign a performance bond with ministers and permanent secretaries, warning that any underperforming member would be removed. The retreat’s theme was “Delivering on the Renewed Hope Agenda,” and Tinubu expressed his commitment to lifting 50 million Nigerians out of poverty….
The Presidency has refuted reports claiming that President Bola Ahmed Tinubu’s administration included an allocation of funds in the 2023 supplementary budget for the purchase of a presidential yacht worth N5.095 billion. According to a statement by Temitope Ajayi, Senior Special Assistant to the President on Media and Publicity, the yacht was actually requested by…
The Ogun State Government has emphasised its commitment to harnessing Information Communication Technology (ICT) to empower its citizens, reduce brain drain, and encourage self-employment. This commitment was reaffirmed by Dayo Abiodun, Special Adviser to the Governor on ICT, following the state’s recognition as the 2nd runner-up for the “Most Digitally Compliant State” at the 2023…
The Federal Government of Nigeria has signed a memorandum of understanding (MOU) with the German company Geo-scan GmbH, involving an investment of $700 million in solid mineral deposits. The German firm, known for its top-of-the-line geoscientific technology, will provide expertise and technology for exploration. This partnership aims to significantly enhance mineral exploration efforts and increase…
The Nigerian federal government is reportedly planning to introduce new regulations in the forex market with the aim of bolstering the value of the naira and curbing illegal currency trading. The proposed rules would expand the official market to accommodate all legitimate transactions and seek to limit the supply to the parallel or “illicit” black…
Prophet Jeremiah Omoto Fufeyin, the billionaire founder and General Overseer of Christ Mercyland Deliverance Ministry in Warri, Delta State, has made headlines with a heartwarming display of love and generosity. On his wife’s birthday anniversary, he surprised her with an impressive gift of N55 million. A viral video shows the cleric showering his wife with…
President Bola Tinubu has raised concerns about the performance of Nigeria’s power sector privatisation, which was carried out about a decade ago. During a roundtable discussion on privatisation in the Nigerian Electricity Supply Industry, Tinubu noted that the sector had failed to meet its objectives. He emphasised that the national grid was serving only about…