In a stunning political comeback, former U.S. President Donald Trump has been elected to the White House once again, four years after being voted out of office. Trump’s victory caps a divisive campaign marked by dark rhetoric and deep polarization, with analysts expecting his administration to test both democratic institutions in the United States and Read More…
Tag: Economy
Central Bank of Nigeria raises minimum capital requirements for banks to ₦500bn
In a significant move, the Central Bank of Nigeria (CBN) has introduced new minimum capital requirements for banks, aiming to bolster their financial stability and enhance their capacity to support the Nigerian economy. Here are the key details: New Capital Thresholds: Implementation Timeline: Strategies for Compliance: The CBN encourages banks to explore various avenues to Read More…
Naira gains strength as CBN tightens monetary policy
The Nigerian Naira saw a notable appreciation against the US dollar, closing at N1,300 per dollar, a 5.97% increase at the official market by Wednesday’s end. This marked improvement from Tuesday’s rate of N1,383 per dollar is a reflection of the Central Bank of Nigeria’s (CBN) recent monetary policy actions. The trading session witnessed a Read More…
Nigeria eyes growth despite challenges, President Tinubu reassures investors
President Bola Tinubu is determined to steer Nigeria through economic headwinds, emphasising his unwavering commitment to reforms and investments that support businesses and create opportunities for the growing population. “We are right in the middle of a challenging stage of our reforms. We have headwinds, no doubt, but we are not going back,” he declared Read More…
CBN Governor Cardoso explains forex obligations and Naira stabilisation in Arise TV interview
In an exclusive interview on Arise TV, Dr. Olayemi Cardoso, the Governor of the Central Bank of Nigeria (CBN), delved into critical issues surrounding foreign exchange stability and monetary policy. His insights shed light on the CBN’s current priorities and strategic actions aimed at bolstering Nigeria’s economy and currency. Key Points from the Interview: Below Read More…
Imperative of Loot Recovery
If there is no chicken for the celebration of Christmas this year, it won’t be because people have suddenly lost their appetite for chicken. It will be an indication of the state of the economy and the privation many Nigerians are going through. As you and I know, the fact that many people now trek Read More…
Once upon Weah
George Oppong Weah is the story of an African child who rose from the slums of Clara Town, Monrovia to glittering heights in Europe and America but never lost his sense of purpose. Rather, after he had become quite rich and famous, he returned home to give back part of his wealth and overcame serious Read More…
Google’s Hustle Academy celebrates graduates and empowers thousands of businesses, says country director
According to Mr. Olumide Balogun, the Country Director of Google West Africa, the recent Google Hustle Academy graduation in Abuja was a celebration not just of 5,300 graduates but also of the significant empowerment provided to 10,000 businesses across Africa, including 4,400 in Nigeria. Balogun emphasized that the fund, comprising financial aid, mentorship, and business Read More…
Nigerian-German economic ties strengthened by $500 million renewable energy pact and gas export deal
In Berlin, Nigerian and German firms have solidified their economic partnership by signing two significant agreements, announced a presidential spokesperson. The deals encompass a substantial $500 million renewable energy pact and a gas export arrangement, marking a pivotal step in bolstering ties between the nations. Union Bank of Nigeria and Germany’s DWS Group sealed a Read More…
Senate urges Labour to reconsider strike amid concerns; employers and NSA weigh in
The Senate recently passed a resolution imploring organised labour to halt the ongoing national strike for the sake of the country’s interests. The motion, championed by Sen. Opeyemi Bamidele, emphasised the need for reconsideration amidst the escalating strike initiated by the Nigeria Labour Congress (NLC), Trade Union Congress (TUC), Academic Staff Union of Universities, and Read More…