Economy
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DMO cautions FG against more borrowings, warns that 74% revenue already earmarked for debt servicing
The Debt Management Office (DMO) has warned the Federal Government against additional borrowing, saying 73.5 per cent of revenue generated…
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States’ external debt profile rises to N3tn
The external debt burden of the 36 states and the Federal Capital Territory may rise by as high as over…
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Nigeria’s food inflation hits a staggering 24.82%, highest in 17 years
The food inflation rate in Nigeria accelerated to its highest levels in 17 years in May, despite the drop in…
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CBN lifts restriction on domiciliary accounts, allows $10k withdrawals
The Central Bank of Nigeria (CBN) has said cash deposits into domiciliary accounts will no longer be restricted. The…
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Stop payment to MDAs till further notice, Tinubu orders CBN
As part of the ongoing efforts at taking firm control of his Administration, President Bola Ahmed Tinubu has reportedly directed…
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Naira plunges by 57% as the new official rate races to close with parallel exchange window
The unification of trading windows and dismantling of official restraints on the parallel foreign exchange markets in the country is…
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Fuel Subsidy: Stakeholders recommend N702.9bn allowance for workers
The National Economic Council (NEC) says it has received a proposal from stakeholders for a consequential adjustment estimated at N702.9…
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Amid petrol subsidy removal, Nigeria’s inflation hits 22.41%
Amid the removal of subsidy on petrol, Nigeria’s inflation rate rose to 22.41 percent in May 2023, up from 22.22…
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Unify exchange rate but don’t float naira, financial expert urges CBN
A financial expert, Prof. Uche Uwaleke, says it is commendable for the Central Bank of Nigeria (CBN) to unify the…
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CBN confirms changes to forex market
The Central Bank of Nigeria (CBN) on Wednesday informed all authorised dealers and the general public of immediate changes to…
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