The Central Bank of Nigeria (CBN) and the Bill and Melinda Gates Foundation (BMGF) have finalized plans for a collaborative effort focused on financial inclusion. In a recent statement, the CBN announced that strategic discussions were held between the two entities to explore deeper collaboration in enhancing financial inclusion in Nigeria. During the discussions, Folashodun…
The Abuja Electricity Distribution Company (AEDC) has issued a notification to its customers, informing them of an upcoming electricity tariff increase starting from July 1, 2023. The decision to review the tariff is attributed to the fluctuation of the Naira in the exchange rate. According to the statement released on Sunday, June 25, the exchange…
As preparations for the Eid-el-Kabir celebration are underway, Nigerians are expressing widespread dissatisfaction over the soaring prices of rams and basic food commodities in various markets across the country, according to the News Agency of Nigeria (NAN) reports. Market surveys conducted by NAN correspondents in several states, including Ondo, Ekiti, Osun, Edo, Kaduna, Borno, Yobe,…
During the ongoing Hajj pilgrimage in Saudi Arabia, the National Hajj Commission of Nigeria (NAHCON) has reported that six Nigerian pilgrims have tragically passed away, while 30 others have been diagnosed with mental health challenges. Usman Galadima, the Chief of Operations and Head of the Nigerian Medical Team, shared this information during a meeting of…
During an engagement session with customers in Enugu North Senatorial District, Mr. Praveen Chorghade, the Managing Director of Enugu Electricity Distribution Company (EEDC), expressed the company’s desire to provide every customer with a prepaid or postpaid meter to address complaints about estimated billing. He emphasized that having a meter for every customer would ensure accurate…
The President of the Nigeria Labour Congress (NLC) has announced that the organization will introduce a detention allowance for its members who are arrested during protests. This decision aims to demonstrate solidarity and support for fellow workers who are enslaved and mistreated by their employers. The NLC President, Joe Ajaero, made this announcement during a…
According to the Federation Account Allocation Committee (FAAC), the gross revenue generated from Value Added Tax (VAT) in the month of May amounted to N270.197 billion. In line with this, a total of ₦786.161 billion from the May 2023 Federation Account Revenue has been distributed among the Federal Government, states, and Local Government Councils (LGCs).…
The Seme land border has been granted approval for reopening by the Federal Government of Nigeria, specifically for the importation of vehicles. This information was disclosed by Ibrahim Musa, the Director of Road Transport in the Ministry of Transportation, during an ECOWAS meeting between officials from Nigeria and Benin Republic. Musa explained that the decision…
On Monday, the Nigerian Naira experienced a depreciation against the US Dollar at the Investors and Exporters window, with an exchange rate of ₦770.38 to the dollar. This represents a significant decrease of 16.19% compared to the rate of ₦663.04 recorded on June 16 at the close of business. The open indicative rate for the…
Ghana’s Finance Minister, Ken Ofori-Atta, Outlines Plan for Debt Restructuring before IMF Loan Assessment Ghana’s Finance Minister, Ken Ofori-Atta, recently unveiled the country’s strategy to conclude debt restructuring before the upcoming assessment of its $3 billion loan from the International Monetary Fund (IMF). The Ghanaian government is actively engaged in negotiations to secure a memorandum…
