The World Bank, on Monday, said Nigeria’s inflation rate will drop to 24.8 per cent year-on-year, YoY, in 2024. The development comes after the National Bureau of Statistics (NBS) pegged the current rate at 31.7 per cent in February from 29.9 recorded in January. “Inflation is cooling in most Sub-Saharan African economies but remains high….
The Central Bank of Nigeria has written to all banks in Nigeria to stop the use of foreign currencies as collateral for naira loans. The apex bank stated his in a circular titled, “The use of foreign-currency-denominated collaterals for naira loans” with ref number: BSD/DIR/PUB/LAB/017/004, and sighted by Africa Health Report on Monday. The circular…
Edo State Governor, Godwin Obaseki has appointed a 38-year-old engineer, Omobayo Godwin, as his new deputy and is set for inauguration. This was coming on the heels of the impeachment of the former deputy governor, Philip Shaibu, by the state’s House of Assembly on Monday. According to the panel set up for the impeachment proceedings…
When a rare total solar eclipse sweeps across North America on Monday, scientists will be able to gather invaluable data on everything from the Sun’s atmosphere to strange animal behaviors — and even possible effects on humans. It comes with the Sun near the peak of its 11-year solar cycle, setting the stage for a…
Two people have been arrested in Nigeria over an alleged sextortion attempt against an Australian schoolboy who took his own life. Australian police say the teenage victim had traded explicit images with a person online before they began making threats and demanding money. After a global investigation, the pair allegedly responsible were tracked down in…
The Edo State House of Assembly on Monday impeached the embattled state deputy governor, Philip Shaibu. The impeachment followed the adoption of the report of the seven-man investigative panel set up by the state Chief Judge to probe allegations of misconduct against Shaibu.
The Ikeja Special Offences Court on Monday remanded the embattled former Governor of the Central Bank of Nigeria, Godwin Emefiele, to the custody of the Economic and Financial Crimes Commission after he took his plea over alleged abuse of office and allocation of $4.5bn, N2.8bn. Emefiele, who was earlier arraigned alongside his co-defendant, one Henry…
The Central Bank of Nigeria (CBN), has again announced the sales of dollars to Bureau De Change operators. It was contained in a circular uploaded to its website on Monday. The apex bank said it is set to sell $10,000 to each BDCs at N1101/$ and directed the operators to sell at a spread not…
The Central Bank of Nigeria (CBN) has fired about 40 staff members as the apex bank continues with its ongoing restructuring. The sacked staff mostly are from the development finance department (DFD), Daily Trust authoritatively reports. Because the sack letters were released late Friday, details of those affected are sketchy but our reporter learnt that…
The Nigerian Meteorological Agency has predicted sunshine and thunderstorms from Monday to Wednesday. NiMet’s weather outlook released on Sunday in Abuja, forecast sunny and hazy atmosphere over parts of Yobe and Borno states on Monday, with chances of thunderstorms over part of Kebbi. According to NiMet, the remaining parts of the North should be sunny…
