The Central Bank of Nigeria (CBN) has clarified that claims regarding the cessation of old N200, N500, and N1,000 banknotes as legal tender by December 31, 2024, are inaccurate. Acting Director of Corporate Communications, CBN, Mrs. Sidi-Ali Hakama, stated, “These claims are false and calculated to disrupt the country’s payment system.” The CBN’s announcement follows…
Korede Abdullah in Lagos The Central Bank of Nigeria (CBN) has taken a bold steps to tap into the economic potential of Nigeria’s diaspora community, with the goal of boosting the country’s economic growth. Recently, the CBN led a team of key stakeholders, including the Nigeria Inter-Bank Settlement System (NIBSS), major banks, and International Money…
In a groundbreaking collaboration, the Federal Government of Nigeria and the United States Agency for International Development (USAID) have empowered over 311 Micro, Small, and Medium Enterprises (MSMEs) over the past four years. This partnership has significantly enhanced the agricultural productivity of smallholder farmers, impacting over two million across the country. The initiative, which is…
Hussaini Kafi in Kano The Kaduna State government is aiming to significantly boost its internally generated revenue (IGR) by generating N150 billion monthly through improved tax management strategies. According to the state’s Commissioner for Planning and Budget Commission, Mukhtar Ahmed, the government is committed to automating the tax collection process, strengthening collaboration between relevant agencies,…
Korede Abdullah in Lagos Over 20,000 participants are expected to converge on Lagos State for the maiden edition of Afropolis 2024, a nine-day international festival celebrating African cultural heritage. The event, themed “We Need New Myths,” aims to open doors to new possibilities, foster connections that transcend borders, and showcase the incredible potential of…
In a move to streamline government expenditure, President Bola Tinubu has restricted federal ministers and agency heads to three vehicles in their official convoys. The directive, issued today in a statement by the Special Adviser to the President on Information and Strategy, Bayo Onanuga also mandates that no additional vehicles will be allocated for their…
Hussaini Kafi in Kano The federal government has issued a seven-day ultimatum to Julius Berger Plc to accept the N740.7 billion contract for the rehabilitation of the Abuja-Kaduna-Zaria-Kano road or risk having the contract revoked. The ultimatum was issued by the Minister of Works, Engr. Nweze David, during a meeting with the newly appointed Managing…
Amidst Nigeria’s persistent economic challenges, the prices of staple food items have continued to climb sharply, according to the latest report by the National Bureau of Statistics (NBS). The “Selected Food Price Watch” report for September 2024, published on the NBS website, highlights a substantial increase in the prices of key staples such as rice,…
Korede Abdullah in Lagos The Nigerian Naira has suffered a significant decline, losing N52.24 against the US dollar in just 48 hours. According to data from FMDQ, the Naira weakened to N1653.02 on Tuesday, down from N1600.78 last Friday. This marks the second depreciation this week, following Monday’s rate of N1603.16 per dollar. The downturn…
In a surprising move, the Kano State Government on Tuesday announced the withdrawal of accreditation for 14 journalists assigned to cover its activities. The decision, announced by Sanusi Bature Dawakin-Tofa, the spokesperson for Governor Abba Yusuf, has left the media community in the state perplexed. While no official reason was given for the withdrawal, Dawakin-Tofa’s…
