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 …

Taiwan’s Head of Mission in Nigeria and Chief of Taiwan’s Mission at the Taipei Trade Office, Andy Liu, has called on President Bola Tinubu to ensure the relocation of Taiwan’s Mission in Nigeria from Lagos to Abuja. Speaking to journalists in Abuja on Sunday, Liu also urged the Federal Government to sign the Investment Promotion and Protection Agreement which has …

A video of the former presidential candidate, Dr. Gbenga Olawepo-Hashim discussing his ambitious economic plan for Nigeria in 2018 has resurfaced online, six years after it was initially projected. Olawepo-Hashim was then campaigning for the 2019 presidential election as candidate of the party, Peoples Trust. The resurfaced video has attracted widespread admiration for his deep understanding of the country’s economic …