The Central Bank of Nigeria (CBN) has set a daily withdrawal limit of N100,000 per customer on point-of-sale (PoS) terminals. The restriction, in line with the apex bank’s ongoing efforts to advance a cash-less economy, will help address identified challenges, combat fraud and establish uniform operational standards across the industry. The restriction was contained in…
Nigeria’s inflation rate surged to 34.60% in November 2024, according to the National Bureau of Statistics (NBS). A report by the bureau said the inflation rate showed an increase of 0.72% points, compared to the 33.88 percent recorded in October 2024. On a year-on-year basis, the headline inflation rate was 6.40 percent points higher than…
Vice President Kashim Shettima, who chaired Thursday’s National Economic Council (NEC) meeting, has approved a 0.05% increase in emoluments for workers under the Revenue Mobilization Allocation and Fiscal Commission (RMAFC). Anambra State Governor, Charles Soludo, revealed this during a press briefing saying that the Commission had initially requested a 0.75% increase, citing the immense scope…
The House of Representatives, on Tuesday, has urged the Central Bank of Nigeria (CBN) to urgently address the ongoing scarcity of naira notes and investigate the factors behind the situation. A member of the House, Hon. Uguru Emmanuel, had, in a motion under matters of urgent public importance, insisted that the apex bank must call…
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has given positive indicators that the economy will take a new turn around positively by next year, 2025. Edun stated this, yesterday while giving an overview of the expected 2025 budget proposal and the Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP)…
The Deputy Senate President, Senator Barau Jibril, Wednesday welcomed key political figures from the Kano New Nigeria People’s Party (NNPP) who defected and renounced their membership to join the All Progressives Congress (APC). Barau, who expressed delight during the meeting, welcomed the decampees into the largest political party in Africa and assured them that they…
The Kano State Anti-Corruption Agency revealed on Tuesday the discovery of a warehouse storing diverted palliative rice valued at N1bn. The agency said the warehouse, located along Ring Road in the Nasarawa Local Government Area, was sealed during an operation led by its Chairman, Muhuyi Rimin-Gado. According to the agency, bags of rice with the…
The Nigeria Labour Congress (NLC) has reaffirmed its December 1 ultimatum for states to implement the ₦70,000 minimum wage, threatening an indefinite strike for non-compliance. Signed into law by President Bola Tinubu on July 29, 2024, the new ₦70,000 minimum wage replaces the previous ₦30,000 standard, marking a significant shift in labor policy. Recall, On…
The Federal Government has begun deploying consular officers to diplomatic missions worldwide before the anticipated release of the ambassadorial list. This move comes 14 months after 83 ambassadors were recalled in September 2023. Following President Bola Tinubu’s inauguration, a reassessment of foreign policy led to the recall of the 83 ambassadors; both career and non-career…
The Joint Admissions and Matriculation Board (JAMB) has commenced the accreditation process for Computer-Based Test (CBT) centres for the 2025 Unified Tertiary Matriculation Examination (UTME). This was disclosed in a statement on Sunday by Fabian Benjamin, JAMB’s spokesperson. Benjamin said CBT centres that successfully participated in the 2024 UTME without issues should express their interest…
