Dollar deposit by Nigerians in banks has exceeded the 30 per cent threshold approved by International Monetary Fund (IMF), a Central Bank of Nigeria (CBN) report has said. The report by CBN economists said Nigerians have been accumulating foreign currencies to protect their wealth from naira volatility and surging inflation. “Higher real-exchange … [Read more…]
The Central Bank of Nigeria (CBN) says foreign exchange (FX) utilisation for food importation dropped by half in January 2021. The CBN’s economic report on ‘Sectoral Utilisation of Foreign Exchange’ for January said a total of $160 million was spent from Nigeria’s FX on importing food in January. This represents a 48 percent … [Read more…]
The Federal Federal Government, yesterday, acknowledged the nation’s precarious security situation and came up with a grim verdict: Nigeria is bleeding. The government confessed that with the death of veteran Chadian president Idriss Deby, the absence of Chad’s influence on the border may worsen Nigeria and other neigbouring countries’ security situation. … [Read more…]
Our House is on Fire. As the day goes by we see/hear about serious security issues across our land. The flame of insecurity is gradually and consistently transforming into an inferno that will not blow anyone any good. If police stations and security agents are now a part of the constant targets, then, who will … [Read more…]
THE Nigerian National Petroleum Corporation, NNPC, Tuesday, increased the daily loading of Premium Motor Spirit, PMS across the country from 550 to 1,661 trucks in order to eliminate long queues in Abuja and other parts of Nigeria. A statement by the Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru, quoted the Managing … [Read more…]
A move to cut the skyrocketing costs of cement began yesterday at the National Assembly. The Senate urged the Federal Government to introduce liberal policies to stimulate more investment in the manufacturing of the product. The upper chamber said such policies should include provision of industrial and larger tax incentives to encourage local … [Read more…]
Secretary to the Government of the Federation (SGF) Boss Mustapha has said incessant attacks on schools especially in the North East has put pressure on the country’s fragile educational system. Mustapha, who was a special guest at a peace walk against incessant invasion and kidnapping of students, organised by the Peace Corps of Nigeria … [Read more…]
Amazon has announced plans to locate its African headquarters in South Africa. Authorities in Cape Town confirmed this, saying the City of Cape Town has greenlit the R4 billion River Club mixed-use development, which will be the new home of retail giant Amazon in Africa. This is coming one week after Twitter picked … [Read more…]
Just In: Nkanu East Stakeholders Appeal to Ugwuanyi to Pick Successor From Their LG. …Lauds the Gov. for his spirit of equity, justice and fairness Special Report: Prince Ejeh Josh As the clamour for zoning of the governorship seat to Enugu East Senatorial zone in 2023 continues to gain momentum in Enugu … [Read more…]
ENUGU 2023: POWER ROTATION MUST CONTINUE IN CLOCKWISE DIRECTION By Buchi Nnaji As the 2023 general election draw close, political activities in Enugu State are gaining momentum. Politicians, cultural groups and well meaning individuals have started laying claims and counterclaims on whose turn it is to take over from Governor Ifeanyi Ugwuanyi. Considering … [Read more…]
The Federal Government is working hard to improve national security and prevent all secession tendencies. Minister of Information and Culture, Alhaji Lai Mohammed, who spoke in Lagos when he appeared on radio programme, yesterday, urged Nigerians not to listen to promoters of secession. He pointed out that what united Nigeria was more … [Read more…]