Popular Nigerian comedian and filmmaker, Ayo Makun, widely known as AY, has voiced his concerns regarding the exorbitant service charges imposed by Nigerian commercial banks. He questions how these banks consistently declare trillions of Naira in profits every quarter, despite the country’s struggling economy. AY Challenges Nigerian Banking Fees Taking to his X (formerly Twitter) […]
ABUJA – President Bola Tinubu has reiterated that his decision to remove the fuel subsidy is aimed at safeguarding the future of Nigeria’s younger generations. Speaking at the inauguration of the National Youth Congress Planning Committee at the Presidential Villa, Abuja, Tinubu emphasized that his administration is committed to empowering the youth and securing a […]
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NCWGG Plans to Challenge NLC’s February 4 Protest on Telecom Tariff Hike ABUJA – The Nigeria Citizen Watch for Good Governance (NCWGG) has declared its intention to mobilize against the Nigeria Labour Congress (NLC) in response to the planned nationwide protest on February 4, 2025, against the recent telecommunications tariff increase. The group argues that […]
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The Central Bank of Nigeria fined nine banks ₦1.35 billion for failing to ensure cash availability via ATMs. Learn about the penalties, CBN’s guidelines, and the validity of old Naira notes. The Central Bank of Nigeria (CBN) has enforced a ₦1.35 billion fine on nine commercial banks for failing to ensure the availability of Naira […]
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An audit report reveals ₦313 billion in unaccounted funds from Nigerian petroleum regulators, exposing financial mismanagement and urging recovery of lost government revenue. A recent audit by Nigeria’s Auditor General has revealed significant financial mismanagement within two key petroleum regulatory agencies, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Nigerian Midstream and Downstream Petroleum […]
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The APC Northwest Reclamation Front (ANRF) commends the Federal Government for renewing the Nigeria-China currency swap deal, highlighting its potential to revitalize the naira and boost economic growth, while urging action against banditry and hoarders in the Northwest. The APC Northwest Reclamation Front (ANRF) has lauded the Federal Government’s decision to renew the Nigeria-China currency […]
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Nigeria’s Broad Money Supply (M2) saw an impressive 51% year-on-year (YoY) growth, climbing to N108.96 trillion in November 2024. This surge, primarily driven by Federal Government borrowing from the private sector, reflects deepening fiscal challenges linked to domestic borrowing. Data from the Central Bank of Nigeria (CBN) Money and Credit Statistics revealed this increase from […]
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The Socio-Economic Rights and Accountability Project (SERAP) has called on Senate President Godswill Akpabio and Speaker of the House of Representatives Tajudeen Abbas to slash the proposed budgets for the presidency and the National Assembly. SERAP highlighted the presidency’s N9.4 billion allocation for travels, meals, and catering, alongside the National Assembly’s N344.85 billion budget, urging […]
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President Bola Tinubu has instructed the Nigerian National Petroleum Company (NNPC) Limited to expedite the restoration of the Warri and Kaduna refineries, alongside the second Port Harcourt refinery. Progress on Refinery Rehabilitation This directive follows the successful rehabilitation of the first Port Harcourt refinery, which resumed petroleum product loading operations on November 26, 2024. The […]
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The Federal Inland Revenue Service (FIRS), Nigeria Customs Service, and Nigeria National Petroleum Company Limited (NNPCL) announced on Monday that they exceeded their respective revenue targets for the current fiscal year. During a session with the Joint Committee on Finance, Budget, and National Planning on the 2025-2027 Medium Term Expenditure Framework and Fiscal Strategy Paper […]
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Donald Trump’s anticipated return to the White House as the 47th President, following a notable win over Kamala Harris, sparks fresh concerns for Nigeria’s economic prospects. Trump’s “America First” economic agenda, emphasizing domestic energy production, import tariffs, and promoting low interest rates, may notably influence Nigeria’s economy, particularly regarding exchange rates, capital movement, inflation, and […]
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According to Aliko Dangote, chairman of the Dangote Refinery, his facility has enough gasoline on hand to end fuel lines for up to 12 days. Following President Bola Tinubu’s meeting with members of the local currency implementation committee for the sale of crude oil and refined products, which is chaired by Mr. Wale Edun, the […]
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The blackout in Nigeria’s northern area over the past week has alarmed President Bola Ahmed Tinubu. He has called in the National Security Advisor, Nuhu Ribadu, and the Minister of Power, Adebayo Adelabu, to spearhead efforts to put an end to the disruption that has paralyzed social and commercial operations. The president has instructed the […]
