The increasing cost of living has driven Nigerians to borrow approximately N740 billion from banks between January and September this year. An analysis of the Central Bank of Nigeria’s (CBN) quarterly economic reports reveals that consumer credit surged from N2.31 trillion in the fourth quarter of 2022 to N3.05 trillion by the end of the…
The National Pension Commission (PenCom) has released data showing that Nigeria’s pension fund assets surged to N17.658 trillion as of October 31, 2023. This represents a significant increase of about 1.78% compared to the N17.349 trillion reported in September 2023. The details of this growth were outlined in PenCom’s monthly report for October 2023. The…
Governor Umo Eno of Akwa Ibom State recently expressed his gratitude towards his predecessor, Udom Emmanuel, stating that Mr. Emmanuel has not exerted any undue influence on him since he assumed office about seven months ago. Speaking on Christmas Day in Mr. Emmanuel’s hometown of Awa Iman, Onna Local Government Area of Akwa Ibom, Governor…
Nigerian stocks have concluded the year 2023 with a remarkable surge, gaining 46.6% or N13 trillion in the Lagos market. This surge signifies a substantial improvement in the market value of equities compared to the previous year. The total value of the 155 equities at the close of trade on Friday stood at an impressive…
Jim Obazee, the investigator appointed by President Tinubu to probe the Central Bank of Nigeria (CBN), has encountered resistance from Babatunde Lemo and other top officials of Titan Trust Bank (TTB) Ltd amid questions about his authority to summon individuals for questioning. Lemo, who serves as Titan Trust’s chairman, and Cornelis Vink, its chief executive,…
The Nigerian House of Representatives has put forward a bill that aims to make the delayed or failed payment of employees’ salaries by employers and corporate entities a criminal offense in the country. Sponsored by Wale Hammed, a House member representing the Agege Federal constituency in Lagos State, the bill, titled ‘The Employees Remuneration Protection…
The Lagos State Government has revealed plans for a two-night traffic diversion, scheduled from 12:00 midnight to 5:00 am, at the Alaka inward Stadium Flyover Bridge and Ojuelegba Flyover Bridge by the Fire Station. This temporary closure, starting from Friday, 29th to Saturday, 30th December 2023, is intended for the installation of truck barriers. According…
The Governor of Ogun State, Dapo Abiodun, speaking on behalf of the Southwest Governors Forum, has pledged the commitment of the forum to ensure a dignified burial for the late Governor of Ondo State, Rotimi Akeredolu, who passed away on Wednesday. Governor Abiodun made this announcement in Ibadan after visiting the family of the deceased…
Akwa Ibom State Governor, Pastor Umo Eno, has signed the State’s Appropriation Bill of N849.970 billion for the 2024 fiscal year into law. This action, which took place during an enlarged State Executive Council meeting on Thursday, reflects an increase from the initial N845.632 billion budget presented to the State House of Assembly on November…
The parents of the abducted students of the Federal University Gusau (FUG) in Zamfara State have urged the Nigerian government to take swift action to rescue their children. They have called for negotiations with the bandits who abducted the students, citing previous instances where such negotiations were successful, particularly during the Boko Haram insurgency in…