A report by the National Bureau of Statistics (NBS), said the inflation figure fell from the 24.48% recorded in January following the rebasing of Nigeria’s Consumer Price Index (CPI). The update of the CPI made 2024 the base year for price increment instead of 2009 practised before. The new figure still falls short of the 15% targeted by the federal …

An e-commerce platform, Atlaxa has launched its maiden operations in Abeokuta, the Ogun State capital. At a media conference of the soft launch of Atlaxa Online Marketplace, the Chairman of Atlantica Financial Services Limited (parent company of Atlaxa Multi Resources), High Chief Olabode Mustapha said that Atlaxa was born out of a powerful vision to create a bridge between African …

The Naira yesterday depreciated to N1,515 per dollar in the parallel market from N1,510 per dollar on Monday. Similarly, the Naira depreciated to N1,502 per dollar in the Nigerian Foreign Exchange Market (NFEM). Data published by the Central Bank of Nigeria, CBN, showed that the indicative exchange rate for the naira rose to N1,502 per dollar from N1,499 per dollar …

Lagos State Governor, Mr. Babajide Sanwo-Olu, on Tuesday, disclosed that his government is actively working on policies and initiatives that will position Lagos as the leading hub for digital gaming, fintech solutions, and Artificial Intelligence (AI)-driven creative enterprises in Africa. The governor also reaffirmed the state government’s commitment to fostering an environment where innovation thrives, responsible gaming is prioritised, and …

The Ooni of Ife, Oba Adeyeye Ogunwusi Ojaja II, on Sunday, commended President Bola Tinubu, saying the hardship resulting from his bold economic reforms is gradually giving way and yielding fruits for Nigerians. The monarch also said that the arbitrage between the parallel and the official markets has been closed completely for the first time in 20 years. He stated …

President Bola Tinubu has said that his administration would support businesses in the Financial Technology (Fintech) sector that provide payment infrastructure services for Nigerians and Africans. Agboola said that the company seeks to be listed on the Nigerian Exchange and solicited the President’s support. Receiving the leadership of Flutterwave and Alami Capital in Abuja on Saturday afternoon at the State …

FAAC meeting postponed indefinitely as states, NNPC tussle over N1.7trn remittances The Federation Account Allocation Committee (FAAC) has announced the indefinite postponement of its meetings for February 2025. : TheCable had earlier reported that the FAAC meeting was not held on Wednesday due to a dispute between states and NNPC Limited over outstanding remittances. States decided to boycott the meeting until …

Anambra State Governor, Prof. Charles Soludo has expressed his commitment to collaborating with investors to foster infrastructural and economic growth and drive sustainable development in the state. Welcoming a high-profile delegation from the Shanghai Jianhang Investment Company Limited to the state, Soludo said: ‘We are delighted to host Chairman Peng Yizhong and his team as they explore the immense potential Anambra …

Legislators in Lagos State have commended the state Internal Revenue Service (LIRS) for achieving an unprecedented milestone in revenue generation, surpassing N1 trillion. This landmark accomplishment positions LIRS as the first sub-national revenue agency in Nigeria to attain such a feat, reflecting its professionalism, efficiency, and commitment to transparent tax administration. Former Chairman of the House Committee on Economic Planning …

Inflation reduced to 24.48 per cent in January 2025, according to the National Bureau of Statistics (NBS). The Statistician of the Federation, Prince Adeyemi Adeniran, who is also NBS CEO, said at a briefing in Abuja on Tuesday that food inflation was 26.08 per cent year-on-year. According to him, the new figure was as result of the rebasing of Nigeria’s inflation …