The Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele resumed duty on Monday after his annual vacation abroad, according to a statement by the apex bank’s Director of Corporate Communication, Mr Osita Nwanisobi. Since his absence from the public view last month, there have been speculations about his status as the No 1 banker, including allegations of …

For the first time in 11 months, inflation dipped to 21.34 per cent in Nigeria, according to the National Bureau of Statistics (NBS). The inflation rate has been on a steady rise in from January to November, last year, but dropped to 21.34 per cent in December as against 21.47 per cent in November. The NBS report said that food inflation …

The International Monetary Fund (IMF) has reiterated its commitment to tackling food crisis and payment challenges facing the global economy. Its Managing Director, Ms. Kristalina Georgieva, stated this after the IMF’s Executive Board approved a new Food Shock Window under its emergency financing instruments, the Rapid Credit Facility and Rapid Financing Instrument. “The new financing window will provide additional access …

The National Salaries Incomes and Wages Commission (NSIWC) has said that it has initiated process for the review of the National Minimum Wage. In a statement on Sunday in Abuja, NSIWC’s Head of Public Affairs, Mr Emmanuel Njoku said that, as part of the process to review the minimum wage, which would be due in 2024, the commission had held …

Some worried employees of the Nigeria Social Insurance Trust Fund (NSITF) have urged the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and other Related Offenses Commission (ICPC) to look into cases of alleged fraud and corruption at the agency. However, NSITF’s General Manager/Head of Corporate Affairs, Mrs Ijeoma Oji-Okoronkwo denied knowledge of any wrongdoing in the organisation. …

The Nigerian Security Printing and Minting Plc (NSPM) have highlighted some features of the new naira notes in order to sensitize Nigerians who have expressed concern about the quality of the notes. In a statement on Friday signed by the Managing Director of NSPM, Ahmed Halilu, the company stressed the need to enlighten Nigerians on the features of the new …

The proposed Fourth Mainland Bridge project will cost $2.5 billion and will be ready in 2027, it was learned on Friday. Special Adviser to the Governor on Public Private Partnerships, Mr Ope George, and his counterpart in the Ministry of Works and Infrastructure, Mrs Aramide Adeyoye told reporters at Alausa, Ikeja that the official turning of sod would be done by …

The Conference of Nigeria Political Parties (CNPP) has commended the Central Bank of Nigeria (CBN) over its move to redesign the N200, N500 and N1, 000 banknotes. In a statement in Abuja on Thursday by its Secretary General, Chief Willy Ezugwu, CNPP said: “Only politicians who intended to buy votes” and other equally ill-motivated elements would criticise CBN’s action. The …

Three existing Nigerian currency notes – N200, N500 and N1,000 – will cease to be legal tender from 31st January next year, that is 98 days away. The Central Bank of Nigeria (CBN) announced on Wednesday that Nigerians and others in possession of the notes should return them the banks, in place of the redesigned notes. According to the CBN Governor, …

For the first time in 17 years, Nigeria’s inflation rate rose to 20.8 percent as a result of soaring food prices and supply chain disruption, according to  the National Bureau of Statistics (NBS). The Consumer Price Index report for September 2022 released on Monday shows that inflation figure for the preceding month – August – was 20.52 percent. The NBS …