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Cardoso: Nigeria on Track for $1 Trillion Economy by 2030

Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has declared that the nation’s economy will reach $1 trillion by 2030. Cardoso made this announcement during a presentation to the Senate Committee on Banking, Insurance, and Other Financial Institutions. Cardoso emphasized the CBN’s commitment to implementing policies for sustainable growth and economic stability. Since […]

Meta Fined $220 Million by Nigerian Authority Over Data Privacy Violations

The Federal Competition and Consumer Protection Commission (FCCPC) has imposed a $220 million fine on Meta, the parent company of Facebook and WhatsApp, for alleged consumer rights infringements. In a statement, acting Executive Vice Chairman/Chief Executive of the FCCPC, Dr. Adamu Abdullahi, accused the social media platforms of denying Nigerian data subjects the right to […]

Biden Defiant as Democrats Urge Him to Exit Presidential Race

President Joe Biden has vowed to continue his reelection campaign despite growing calls from fellow Democrats to end his bid, fearing it could harm the party in the upcoming November election. Over one in ten congressional Democrats have publicly urged the 81-year-old president, currently isolating with COVID-19, to step aside following a poor debate performance […]

Victor Osimhen Set for PSG Move Following Napoli Agreement

Napoli striker Victor Osimhen has reportedly reached an agreement to join Paris Saint-Germain (PSG). Italian football expert Fabrizio Romano announced the news on his X handle on Wednesday. Romano also revealed that new Napoli manager Antonio Conte is resigned to the Nigerian striker’s departure, with only the timing of the deal yet to be finalized. […]

To Stabilise Naira, CBN Greenlights Additional FX Sales to BDCs

The Central Bank of Nigeria (CBN) has approved the sale of Foreign Exchange (FX) to eligible Bureau De Change (BDC) operators to address the demand for invisible transactions. Each BDC will receive $20,000 at a rate of N1,450/$, which is the lower band of the trading rate at the Nigerian Autonomous Foreign Exchange Market (NAFEM) […]

Labour: Why We Accepted ₦70,000 Minimum Wage

The Nigeria Labour Congress (NLC) President, Joe Ajaero, and the Trade Union Congress (TUC) President, Festus Osifo, have explained that the decision to accept ₦70,000 as the new minimum wage for Nigerian workers was influenced by a shift in the wage review cycle. Instead of every five years, wage reviews will now occur every three […]

FG, Labour Leaders Reach Agreement on ₦70,000 New Minimum Wage

The Minister of Information, Mohammed Idris, announced that the Federal Government and the leadership of the Organised Labour have agreed on ₦70,000 as the new minimum wage for Nigerian workers. Idris stated that the agreement was reached during a meeting between President Bola Tinubu and the leaders of the Nigeria Labour Congress (NLC) and the […]

Reps Advance Bill for Six-Year Terms to Curb Government Spending

The House of Representatives on Wednesday passed a bill through the first reading that proposes a single six-year term for the President, State Governors, and Local Government Area Councils. This bill aims to reduce government spending, increase efficiency, and promote national stability. Sponsored by Hon. Ikenga Ugochinyere, Chairman of the House Committee on Petroleum Resources […]

Senate Targets Banks’ Foreign Profits to Fund National Projects

On Wednesday, the Senate deliberated on amendments to the 2023 Finance Act, focusing on taxing foreign exchange gains reported by banks to fund national projects. The Senate also reviewed a bill to amend the 2024 Appropriation Act, proposing an increase in public expenditure from ₦28.7 trillion to ₦34.9 trillion, marking a 21.6% rise. Senate Leader, […]

NECO Announces 2024 Common Entrance Exam Results

The National Examination Council (NECO) has released the results of the 2024 National Common Entrance Examination (NCEE) for candidates seeking admission into Federal Government Colleges. Additionally, the results for the 2024 entrance examination into the Federal Government Academy in Suleja, Niger State, have also been announced. The Minister of State for Education, Dr. Tanko Sununu, […]

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