Senator Ali Ndume asserted that the depreciation of the naira against the dollar is not causing losses to the federal government; rather, it is yielding increased revenue to finance the 2024 budget. Speaking on Channels TV, Ndume emphasized that the budget presented by President Bola Ahmed Tinubu in November 2023 is predominantly dependent on dollar-denominated…

At the opening of the 2024 First Plenary Assembly of the Catholic Bishops Conference of Nigeria (CBCN), Olayemi Cardoso, the Governor of the Central Bank of Nigeria (CBN), emphasized the challenges of his role, stating it to be the second most demanding globally. As the Chairman of the occasion, Cardoso expressed optimism about the Federal…

The Nigeria Customs Service (NCS) has made a significant interception in Sokoto State, seizing 15 trucks loaded with food items. This action is part of the NCS’s ongoing efforts to curb smuggling activities that contribute to the soaring prices of essential commodities across the nation. Abubakar Chafe, the spokesperson for the NCS Sokoto Command, disclosed…

Troops of the Nigerian Army have intercepted trucks suspected of transporting prohibited goods to the Republic of Cameroon. The trucks, each loaded with 600 50kg bags of cement, were showcased to journalists at the Nigeria Police headquarters in Yola, the capital of Adamawa State, on Friday. Adamawa State Governor, Ahmadu Fintiri, had issued an Executive…

Labour unions have declared their intention to organize a nationwide mass protest to draw attention to the prevalent economic hardship experienced by Nigerians. The decision to stage the protest stems from the escalating economic challenges plaguing the country, including soaring inflation rates, increased cost of living, and widespread unemployment. These issues have significantly impacted the…

Once again, on Wednesday, February 14, the Central Bank of Nigeria (CBN) revised the Customs exchange rate from N1444.56/$1 to N1,481.482/$1. This latest adjustment represents an increase of N36.922, equivalent to 2.56 percent, compared to the previous increment. Remarkably, this marks the fifth adjustment within a span of 12 days and the ninth since the…

Similar to the Central Bank of Nigeria (CBN) and the Federal Airports Authority of Nigeria (FAAN), the Nigerian Upstream Petroleum Regulatory Commission is contemplating relocating some of its units to Lagos state. In a circular dated February 14, 2024, the agency stated that the decision is motivated by the desire to improve service delivery, lower…

On Monday, February 12th, 2024, the official NAFEM market saw the closing exchange rate between the naira and dollar hit N1,534/$1, marking the weakest performance ever recorded for the naira against the dollar at the end of a market session, according to reports from Nairametrics. Throughout the day, the intra-day high and low values stood…

Herbert Wigwe, the Chief Executive Officer of Access Holdings, and his wife, Chizoba, tragically lost their lives in a helicopter crash in California on Friday night, February 9. Reports indicate that the helicopter was en route to Las Vegas when it crashed near Boulder City, situated between Nevada and California. The San Bernardino Sheriff’s Department…