A nominee for the Central Bank of Nigeria (CBN) Board of Directors, Urum Kalu Eke, has declined the appointment, citing his current engagement with the World Bank. President Bola Tinubu had nominated Urum and four others on February 13 for confirmation as members of the CBN board. During the confirmation proceedings on February 29, former…
The Nigerian Communications Commission (NCC) has officially directed telecom operators to deactivate the phone lines of subscribers who have not linked their National Identification Numbers (NIN) to their SIM cards by February 28, 2024. Aminu Maida, the Executive Vice-Chairman of the NCC, represented by Reuben Mouka, the Director of Public Affairs, made this announcement…
Bayo Onanuga, the presidential spokesman, has raised concerns over the impact of cryptocurrency trading platform Binance on Nigeria’s economy. During an appearance on Channels Television’s Politics Today program on Wednesday, February 28, Onanuga accused Binance of manipulating foreign exchange rates, warning that if left unchecked, the platform could wreak havoc on the nation’s economy. He…
During the first Monetary Policy Committee (MPC) meeting under his leadership on Tuesday, February 27, Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, addressed the economic challenges facing the country and emphasized that he and his team are not to blame for these issues. Cardoso stressed the importance of understanding that the CBN…
Qatar has reversed its initial decision and agreed to host the proposed business and investment forum during President Bola Tinubu’s upcoming state visit to the country from March 2 to March 3. Initially, Qatar declined the forum, citing the unavailability of its Minister of Commerce and Industry, Mohammed Bin Hamad Al-Thani. However, in a letter…
Finance Minister Wale Edun has highlighted that only around 5% of Nigerians possess more than N500,000 in their bank accounts. Speaking in an interview with Channels TV, Edun emphasized that recent government reforms aim to address economic disparities that have favored a small elite group over the majority of citizens in the past eight…
Following a public hearing on the ban of spirits and alcoholic beverages in sachets and pet bottles, the House of Representatives Committee on the National Agency on Food, Drugs Administration and Control (NAFDAC) has directed the suspension of the ban. Chairperson of the Committee, Rep. Regina Akume, emphasized the importance of taking proper steps before…
The National Bureau of Statistics (NBS) has reported a significant rise in the average retail price of a liter of petrol, soaring from N257.12 in January 2023 to N668.30 in January 2024. This revelation was made in the NBS’s Petrol Price Watch for January 2024, which was issued in Abuja on Thursday, February 22. The…
The Director-General of the World Trade Organization (WTO), Dr. Ngozi Okonjo-Iweala, has expressed that she is currently too preoccupied to entertain the idea of pursuing a potential second term leading the global organization. Iweala emphasized her current focus on addressing pressing matters within the Geneva-based trade body before considering any future candidacy. “At this moment,…
Grains are reportedly still awaiting distribution to Nigerians, even two weeks after President Bola Tinubu issued a directive to the Ministry of Agriculture. Following President Tinubu’s directive two weeks ago, instructing the Ministry of Agriculture and Food Security to release 42,000 metric tons of maize, millet, and other commodities from the national strategic reserve to…
