Nigeria’s FX Reserves Hit $46bn, Highest Level Since 2018 — CBN

The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has declared that the country’s foreign-exchange (FX) reserves have risen to over US$46 billion. Speaking at the opening of a colloquium to mark the 20th anniversary of the CBN’s Monetary Policy Department, Cardoso, represented by Deputy Governor Muhammad Abdullahi (Economic Policy Directorate), said the reserves level was the highest the country has recorded since 2018. He added that this amount could now cover more...

Health Workers Threaten To Shut Down Hospitals From Nov 14

Members of the Joint Health Sector Unions (JOHESU) have threatened to embark on an indefinite strike action, beginning November 14, over the federal government’s failure to fulfill promises regarding the Consolidated Health Salary Structure (CONHESS). The umbrella body of the union said the strike would commence by midnight on November 14, 2024, if its demands were not met. The JOHESU comprises the Medical and Health Workers’ Union of Nigeria, the Nigerian Union of Allied Health...

Dangote Refinery Targets World’s Largest Status with 1.4mb Daily Production

The Dangote Petroleum Refinery has announced ambitious plans to expand its processing capacity from 650,000 barrels per day (bpd) to 1.4 million bpd. Once completed, the facility will overtake India’s Jamnagar to become the largest refinery in the world. Alhaji Aliko Dangote, President of the Dangote Group, made the announcement during a media briefing in Lagos on Sunday. He said, “We are expanding the Dangote Petroleum Refinery from 650,000 barrels per day to 1.4 million...

Nigeria’s capital market must adapt to remain relevant – SEC DG

The Director General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, has said that the global shift towards sustainable finance is redefining investment decisions, corporate governance, and risk management, adding that Nigeria’s capital market must adapt to remain competitive and relevant. Speaking at the 2025 Annual Conference of the Chartered Institute of Stockbrokers in Abuja, on Wednesday, Agama described sustainability as a global imperative that goes beyond technology and ethics, noting that environmental,...

Management of Zara Stores Opens New Outlet in Onitsha

The management of Zara Stores, one of the major shopping malls in Awka, Anambra State, opened a new Zara Mall in Onitsha, Anambra State, on Thursday. The Chairman and Chief Executive Officer of Zara Stores, Chief Akai Egwuonwu, who keyed into the “aku luo uno” or “think home” mantra of the Obiano administration, has continued to expand his businesses across different parts of Anambra State. A reputable agro businessman with a major stake in rice...

World Bank says Tinubu’s Reforms Stabilise Economy, Worsen Hardship

Economic reforms implemented in recent years have prevented Nigeria from plunging into a fiscal crisis and helped stabilise macroeconomic conditions, but they have also placed severe strain on ordinary citizens, with the number of poor Nigerians rising by an additional 58 million over six years, the World Bank has said. In its latest Nigeria Development Update (NDU), published in May 2025, the Bank cautioned that the gains from subsidy removal, foreign-exchange liberalisation and tax reform...

NELFUND Closes 2024-2025 Loan Application Portal

The Nigerian Education Loan Fund, NELFUND, has closed its application portal for the 2024/2025 academic session. The portal will officially close on Tuesday, September 30, 2025, as it moves to the next academic cycle. This was contained in a statement by the Director of Strategic Communications, NELFUND, Mrs Oseyemi Oluwatuyi, on Tuesday. According to the statement, the closure marks the conclusion of its second full cycle, allowing it to finalize the processing of pending applications...

Council Govt Says Kara Market Will Operate from 6 a.m. and 6 p.m. Daily

Seven council chairmen in the Kwara South Senatorial District have agreed to shut down their cattle markets, following security reports. The Chairman of Ifelodun Local Government Area in Kwara State, Hajji AbdulRasheed Yusuf, disclosed this in the Newskeg programme of the Correspondents’ Chapel of the Nigeria Union of Journalists, NUJ, in Ilorin. Yusuf said it was discovered through intelligence reports that informants come to the cattle markets at night to pass information to bandits. “We...

CBN Cuts Interest Rate to 27% As Inflation Eases

At its 302nd meeting, Nigeria’s Central Bank (CBN) on Tuesday reduced its Monetary Policy Rate (MPR) by 50 basis points, bringing it down from 27.5 per cent to 27.0 per cent. Governor Olayemi Cardoso announced the decision, which was unanimous among the Monetary Policy Committee (MPC). This is the first time in five years that the bank has cut interest rates. The interest rate is what the CBN uses to guide how much banks charge...

FG Orders All Taxable Nigerians to Obtain Tax ID by January

The Federal Government has directed that all taxable persons must obtain a Tax Identification Number (Tax ID) by 1 January 2026 in line with the Nigeria Tax Administration Act (NTAA). Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, said in a statement that the law requires all individuals and businesses engaged in economic activity to register with the tax authority. “Section 4 of the NTAA requires all taxable persons to register...

WP2Social Auto Publish Powered By : XYZScripts.com