CBN increases Interest Rate to 18.5%
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN), on Wednesday, raised its interest rate or Monetary Policy Rate (MPR) to 18.5 per cent from 18 per cent.
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CBN revokes licenses of 132 microfinance banks (Full List)
The Central Bank of Nigeria (CBN) has delisted 132 Microfinance Banks, three finance companies, and four primary mortgage banks.
The apex bank has had their operating licences revoked.
The affected banks were Atlas Microfinance Bank,…
Lagos to tackle infrastructure deficit with N115b, N19.8b Bond/Sukuk Issuances
Ayodele Olalere
Lagos State government, on Tuesday said it will invest more in education, health, and roads with the proceeds from its 10 and seven years Bond and Sukuk issuance.
The state governor, Babajide Sanwo Olu gave the…
“She don blow”: Reports says Hilda Baci cook-a-thon viewed 4.8 billion times worldwide
The audience reached from Hilda’s Baci (Hilda Bassey Effiong) recent attempt to enter the Guinness World Records as the person with the record of the longest cooking period was over 4.8 billion, a media intelligence report said
The…
Sanwo-Olu, Hamzat fetes youth with carnival, robotics competition to mark 2nd term inauguration
Ayodele Olalere
Lagos State governor, Babajide Sanwo Olu and his deputy, Obafemi Hamzat, on Sunday, feted youths across the five divisions of Lagos with robotics competition and carnival to kick off 11-day activities marking the 2nd…
UK bars Nigerian students, others from bringing family by January
The United Kingdom has put in place a law that will see Nigerian students and others studying in the UK from bringing the family as dependents except under specific circumstances.
This is as the UK government aims to bring immigration…
Dangote sets date for first refinery product lifting
Aliko Dangote, the Nigerian billionaire businessman, says the Dangote Refinery will supply its first tranche of petroleum products to the market before the end of July.
The business tycoon spoke on Monday at the inauguration of the 650,000…
How Dangote has paid back 70% of loans taken to finance refinery, says Emefiele
Godwin Emefiele, governor of the Central Bank of Nigeria (CBN), says the Dangote Group has paid back 70 percent of the loans it took to construct an oil refinery.
Emefiele spoke at the commissioning of the 650,000 barrels per day (bpd)…
IMF reveals why Nigeria, other African countries are sinking deeper into debt
The International Monetary Fund (IMF) says the depreciation of sub-Saharan African currencies against the US dollar pushes up public debt stock.
This is contained in the global lender’s recent blog post titled ‘African Currencies Are Under…
FG spends N13tn on subsidy, sets removal guidelines
The Federal Government, on Monday, said it was developing a comprehensive guide for the incoming administration of Bola Tinubu, on how to manage the removal of subsidy on Premium Motor Spirit, popularly called petrol.
It also insisted…