At the end of its two-day meeting on Tuesday, the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) voted to raise the Monetary Policy Rate (MPR) by 150 basis points to 26.25 percent from 24.75 percent, while maintaining other policy parameters. This marks the third consecutive rate hike since Olayemi Cardoso assumed…
The Nigeria Police Force, Federal Capital Territory (FCT) Command has sent intelligence officers to Banex, a market in Abuja that specializes in electronics and telecommunication devices. This action was taken after a clash occurred between soldiers and traders on Saturday. Viral videos posted on X on Saturday captured civilians overpowering some soldiers in a free-for-all…
The House of Representatives has called on the National Agency for Food and Drug Administration and Control (NAFDAC) to ensure that Genetically Modified (GM) foods and crops already introduced in Nigeria are properly labelled to safeguard consumers. They also urged the federal government to halt the introduction of new genetically modified organisms (GMO) crops until…
The Kogi State Government has affirmed its commitment to prioritize human capital development through interventions in health and education. The governor’s Special Adviser Media and Publicity, Ismail Isah, issued a statement in Lokoja, the state capital, on Thursday. The statement mentioned that Ododo was in Abuja to update President Bola Tinubu on the situation in…
In a significant move aimed at bolstering the electricity sector, the Senate has given its approval for a $500 million loan requested by President Bola Tinubu. The loan is designated for the Bureau of Public Enterprises (BPE) to implement an electricity metering program. This initiative falls under the World Bank funded Nigeria Distribution Sector Recovery…
In a recent development at the Federal High Court in Maitama Abuja, Barrister Ferdinand Baba Isa faces the prospect of a bench warrant following his absence in court for a N550 million fraud case brought against him by the Independent Corrupt Practices and Other Related Offences Commission (ICPC). A press statement from the Director of…
The Central Bank of Nigeria (CBN) has disclosed that the country experienced a decline in direct foreign exchange remittances during the first quarter of the year. According to data sourced from the CBN website, and obtained by Africa health report ( AHR) On Wednesday, the total remittances amounted to $282.61 million, indicating a 6.28% decrease…
Against the backdrop of the call for accountability on the part of state executives for loans they collected onbehalf of the people, Juliet Jacob writes this special feature In the Beginning Since the advent of the new Republic in the new democratic dispensation (199-Date), Nigeria’s governors in the 36 states that make up the…
In a press release dated May 12, 2024, the National Agency for Food and Drug Administration and Control (NAFDAC) urged the public to remain vigilant and report any suspicious activities related to the production of adulterated products. This call to action comes in the wake of the agency’s successful dismantling of an illegal alcohol manufacturing…
In a recent report titled “Beta Don Come: Effects of Cash Transfers on Women and Households in Nigeria,” the World Bank revealed that the ₦5,000 cash transfer scheme implemented by the Nigerian Government had minimal influence on household consumption and women’s financial inclusion in the country. According to the report, the National Social Safety Nets…
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