Abuja Black Marketers Shuts Down Operation
In a surprising move, foreign exchange black market operators in Abuja, including those at the bustling Wuse Zone 4 market, abruptly stopped trading on Thursday morning. They attributed their decision to instructions from their union and a significant depreciation of the Naira against the US dollar at the official market. None of the traders approached was willing to exchange foreign currency. Initially, they...
Tinubu Writes NASS, Seeks Approval For N1.77tn Fresh Loan
President Bola Tinubu has written to the National Assembly, seeking approval of a fresh N1.767tn as a new external borrowing plan in the 2024 appropriation act. If approved, the loan will be used to part-finance the budget deficit of N9.7tn for the 2024 budget. The president’s request was read by the speaker during plenary on Tuesday. The president has also forwarded the...
Emefiele: Tinubu Orders Probe Into Activities Of CBN
President Bola Tinubu has appointed a special investigator Jim Osayande to probe the Central Bank of Nigeria (CBN) and Related Activities. This was contained in a letter signed by the President and addressed to Obazee, the Chief Executive Officer of the Financial Reporting Council of Nigeria (FRCN). “In accordance with the fundamental objective set forth in Section 15(5) of the Constitution...
N87 Trillion Nigeria’s Debt Profile Alarming — CISLAC
The Civil Society Legislative Advocacy Centre (CISLAC) has raised the alarm over the county’s debt surge by 75 per cent under President Bola Ahmed Tinubu’s administration. The Executive Director of CISLAC, Auwal Ibrahim Musa (Rafsanjani), in a statement, expressed concerns over Nigeria’s startling 75 per cent surge in debt, now towering to N87 trillion. He said: “The figure represents an increase...
List Of Ten African Nations Where Workers Earn Highest Wages [Must Read]
There are several countries in Africa where workers, particularly salaried employees, are well paid. Here’s a look at the top 10 African countries where workers earn the best salaries, as a result of the economic conditions and high demand for skilled labour. Morocco The first on this list is Morocco, with an average salary of $2,031 due to its diversified economy, strong...
Adamawa Governor, Fintiri Raises NYSC Members’ Pay By N10,000
The governor of Adamawa state, Ahmadu Umaru Fintiri, on Tuesday increased the monthly allowance of National Youth Service Corps (NYSC) members in the state with ₦10,000 (ten thousand naira). Fintiri disclosed this in a statement and said he was excited to welcome the 2023 Batch ‘C’ Stream II Corps members to Adamawa State. “Your dedication to nation-building is recognized, and we’re...
Court Grants Nollywood Actress, Oluwadarasimi Omoseyi N5m bail
Oluwadarasimi Omoseyin, a Nollywood actress charged with alleged tampering and spraying of the redesigned Naira notes, was granted N5 million bail by a Federal High Court in Lagos State on Wednesday. The Economic and Financial Crimes Commission (EFCC) preferred two counts of charges against Omoseyin, who was arraigned before Justice Chukwujekwu Aneke on Monday. The charge was preoccupied with spraying and...
FG To Restructure FIRS, Mulls New Name
The Minister of Finance, Budget and Economic Planning, Zainab Ahmed, has disclosed plans to restructure the Federal Inland Revenue Service (FIRS). The minister while appearing before the Senate Committee on Finance said the restructuring would see the name of the service changed to the Nigeria Revenue Service. The change, which is part of the 2022 Finance Act that was passed by...
Trade Ministry, SMEDAN Plan MSMEs Academy
The Federal Government, through the Federal Ministry of Industry, Trade and Investment has begun talks with the United Nations Industrial Development Organisation to set up a formal academy to train and equip small business operators with the requisite knowledge to help their day-to-day activities and deepen their contributions to the country’s economic growth. The Ministry, the Small and Medium Enterprises...
FG Urges States To Comply With Payment Of N70,000 Minimum Wage
The Federal Government has appealed to state governments yet to comply with the new National Minimum Wage Act and commence paying the new N70,000 minimum wage to do so. After a meeting with President Bola Tinubu on Monday, the Secretary to the Government of the Federation, George Akume, applauded those states that have commenced paying workers the new minimum wage. Akume...
