Thursday, May 7, 2026
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CBN Grants Approval to 14 Money Transfer Operators
The Central Bank of Nigeria (CBN) has taken steps to enhance foreign currency remittance flows through formal channels by granting 14 new International Money Transfer Operators (IMTOs) approval-in-principle (AIP). According...
Read moreDetailsFood Crisis Deepens as Inflation Soars to 33.69% in April
According to data from the National Bureau of Statistics (NBS), the prices of food commodities in Nigeria surged by 40.53% in April. This increase marks a significant jump of 15.92...
Read moreDetailsNBS to Utilize AI for Food Price Index Generation
The National Bureau of Statistics (NBS) has unveiled plans to use Artificial Intelligence (AI) to generate statistical data on food prices. Prince Adeyemi Adeniran, the Statistician General of the Federation,...
Read moreDetailsDiaspora Remittances Decline 6.28% to $282.61 Million in Q1 2024 Amid CBN’s Reforms
In the first quarter (Q1) of 2024, Nigeria recorded total direct foreign exchange (FX) remittances amounting to $282.61 million. This figure reflects a decrease of $18.96 million or 6.28% compared...
Read moreDetailsFG okays SPV for 90,000km fibre optic cable
The Federal Government on Tuesday approved a special purpose vehicle to support the delivery of an additional 90,000km of fibre optic cable for universal access to the internet across Nigeria....
Read moreDetailsGovt must tackle economic crisis urgently, says NECA DG
The Director-General of the Nigeria Employers’ Consultative Association, Mr Adewale Oyerinde, has stated that the country requires urgent actions to shake off the current economic crisis. In his assessment of...
Read moreDetailsMarketers ordered to open pumps for CNG vehicles
The Federal Government has concluded plans to ensure marketers open Compressed Natural Gas Pumps in filling stations across the country. As such, the government said intending retail licensees would be...
Read moreDetailsEFCC raids speculators as naira drops to 1,520/$
Operatives of the Economic Financial Crimes Commission, on Tuesday, expanded its clampdown on Bureau De Change operators, arresting traders in Abuja, Lagos, Kano and Port Harcourt. This came as the...
Read moreDetailsOPEC agrees with NUPRC, puts Nigeria’s oil output at 1.28m bpd
THE Organisation of Petroleum Exporting Countries (OPEC) announced yesterday that Nigeria's oil output, excluding condensate, increased by 4% month on month (MoM) to 1.28 million barrels per day (bpd) in...
Read moreDetailsCardiovascular diseases kill 10,000 Europeans daily – WHO
Cardiovascular disease accounts for 40% of all fatalities in Europe, according to the World Health Organisation (WHO), which urges Europeans to reduce their salt intake. That translates to 10,000 deaths...
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