Economy
CBN Maintains High Interest Rates to Tackle Persistent Inflation in Nigeria
The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, recently highlighted the complexities surrounding Nigeria’s high-interest rate policies, pointing out...
CBN Confirms No Deadline for Old Naira Notes, Dispels December 2024 Rumors
The Central Bank of Nigeria (CBN) has clarified that there is no cutoff date for using the old N200, N500, and N1,000 Naira...
NNPC-Chevron Joint Venture Makes New Discovery Amid Declining Oil Exploration in Nigeria
The NNPC Limited – Chevron Nigeria Limited Joint Venture (NNPC-CNL JV) has achieved a significant milestone with the successful drilling of the Meji...
Aliko Dangote Retains Title as Africa’s Richest Man, Ranks 65th Globally
Aliko Dangote, the prominent Nigerian business magnate, has once again secured his position as the richest man in Africa. According to Bloomberg's latest...
Yobe State Governor Constitutes Committee on New National Minimum Wage Implementation
Governor Mai Mala Buni of Yobe State has approved the formation of a 10-member committee to oversee the implementation of the new national...
FIRS Chairman Clarifies Tax Reform Bills Are Not Meant to Increase Taxes
Zack Adedeji, Chairman of the Federal Inland Revenue Service (FIRS), has clarified that the recent tax reform bills presented to the National Assembly...
Naira Among Worst-Performing Currencies in Sub-Saharan Africa, World Bank Report Reveals
The Nigerian Naira has emerged as one of the worst-performing currencies in sub-Saharan Africa as of the end of August 2024, according to...
Naira Appreciates in Official Market But Crashes in Parallel Market
On Monday, October 14, 2024, the Nigerian currency, the naira, made a notable recovery in the official foreign exchange market, appreciating by approximately...
World Bank Endorses CBN Governor Yemi Cardoso’s Exce Rate Policy
The World Bank has expressed support for the Central Bank of Nigeria (CBN) Governor, Yemi Cardoso, and his recent exchange rate unification policy....
Nigeria’s Wealthiest to Face 25% Personal Income Tax Rate Starting in 2025, Says Fiscal Policy Committee Chair
Nigeria’s wealthiest citizens will see their Personal Income Tax (PIT) rate rise to 25% beginning next year. Mr. Taiwo Oyedele, Chairman of the...
