economy
News on the global economies
CBN, SEC Impose Sanctions on 10 Banks for Forex Violations
Stanbic IBTC’s fines, totaling N229 million, were linked to infractions involving the CBN, the National Pension Commission, and SEC.
Abuja, Nigeria – In a sweeping regulatory action, the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC) … Continue Reading
State Governor Launches Subsidised Rice Sale at ₦38,700 per Bag to Ease Economic Hardship
Sokoto State Governor Rolls Out Major Subsidy on Rice Sale to Support Grassroots Amid Economic Challenges
In a bid to alleviate the rising cost of living, Sokoto State Governor, Ahmed Aliyu, has launched the sale of subsidised food items, … Continue Reading
Naira Ranked Among Africa’s Worst Performing Currencies – World Bank
Abuja, Nigeria – The Nigerian naira has been ranked among the worst-performing currencies in Sub-Saharan Africa in 2024, according to the latest edition of Africa’s Pulse, a report by the World Bank.
The report reveals that as of the … Continue Reading
Nigeria’s Economy Is Making Progress under Tinubu’s Regime – Reno Omokri
Reno Omokri, former presidential aide and vocal political commentator, has voiced strong support for President Bola Tinubu’s administration, citing key economic improvements that signal progress despite widespread public concerns about rising living costs.
He pointed to growth in Nigeria’s Gross … Continue Reading
Nigeria’s Foreign Reserves Rise to $39.12bn
Nigeria’s foreign reserves have reached a significant milestone.
Foreign reserves currently standing at $39.12 billion as of October 11, 2024. This remarkable increase from $34.70 billion in June 2024 represents a 12.74% surge, according to Yemi Cardoso, the Governor … Continue Reading
National Grid Collapses Again, Plunges Nigeria into Darkness Twice in 24 Hours
Second National Grid Failure in 24 Hours Affecting Millions as System Failures Raise Concerns Over Nigeria’s Electricity Stability
Nigeria’s national power grid has suffered yet another collapse, marking the second outage within 24 hours. The latest breakdown occurred at approximately … Continue Reading
