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CBN Restricts BDCs to purchase forex from a single authorised dealer for $25,000 weekly
The Central Bank of Nigeria (CBN) has issued new guidelines restricting Bureau de Change (BDC) operators to purchasing foreign exchange of a minimum of $25,000 from a single authorised dealer per week. The bank also directed the BDCs to comply with Know Your Customer (KYC) measures. The apex bank, in…
Read More »Trade Liberalisation Scheme: A Catalyst For Africa’s Prosperity
According to Article 3 of the Revised ECOWAS Treaty, one of the main objectives of ECOWAS is to promote the economic integration of the region by establishing, among other things, a Free Trade Area. The instrument created for this purpose is the ECOWAS Trade Liberalisation Scheme (ETLS). The ETLS is…
Read More »FG Begins Tolling on Abuja-Makurdi Highway, Exempts Security and Diplomatic Vehicles
The Federal Government of Nigeria on Tuesday commenced tolling on the 227.2km Abuja-Keffi-Akwanga-Lafia-Makurdi Highway with the inauguration of the Garaku Toll Plaza. However, certain categories of vehicles, security vehicles, diplomatic cars, ambulances, and tricycles are exempted from the charges. The road is a Public Private Partnership (PPP) project under the…
Read More »INEC Urges CSOs to Tackle Delegate-Buying in Party Primaries
The Chairman of the Independent National Electoral Commission (INEC), Prof. Mahmood Yakubu, has called on Civil Society Organizations (CSOs) to actively monitor political party primaries, with a focus on the growing issue of delegate-buying by aspirants. Speaking at the first regular consultative meeting with CSOs on Tuesday in Abuja, Prof.…
Read More »Tinubu’s Aide Urges El-Rufai, Amaechi, and Other Critics to Refrain from Heating Up the Polity
The Special Adviser to the President on Media and Public Communication, Mr. Sunday Dare, has called on President Bola Tinubu’s political opponents to avoid actions that could incite division and destabilize the nation. Speaking on Monday, Dare criticized the wave of negative rhetoric directed at the president, particularly during his…
Read More »CBN extends forex sale period to Bureau de Changes by four months
The Central Bank of Nigeria (CBN) has extended the Foreign Exchange (FX) sale period to Bureau de Change (BDC) operators from January 31 until May 30. This aims to better serve retail market demands. The bank disclosed this in a circular, signed by Dr W. J. Kanya, Acting Director of…
Read More »FEC Approves $1.07 Billion for Healthcare Reforms, N4.8 Billion for HIV Treatment
Nigeria’s Federal Executive Council (FEC) has sanctioned $1.07 billion for sweeping healthcare sector reforms under the Human Capital Opportunities for Prosperity and Equity (HOPE) programme. Addressing State House correspondents after Monday’s FEC meeting, Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, revealed that the Federal Government…
Read More »MTN, Airtel Expand Market Shares as 9mobile Struggles
MTN Nigeria has strengthened its dominance, growing its market share to 51% with 84.6 million subscribers in December, up from 81.2 million in November. According to the Mobile Network Operators Report on the Nigerian Communications Commission (NCC) website, Airtel also showed resilience, increasing its subscriber base to 56.6 million in…
Read More »Ondo Nurses Suspend Strike After Breakthrough in Talks
The Ondo State Council of the National Association of Nigerian Nurses and Midwives (NANNM) has suspended its indefinite strike, which started on January 31. In a statement released on Monday in Akure, the association’s Public Relations Officer (PRO), Lucky Aremu, attributed the decision to progress made in negotiations with the…
Read More »Dogara Reveals How Wike Made Bala Mohammed Bauchi Governor
Yakubu Dogara, a former Speaker of the House of Representatives, has revealed that the Minister of the Federal Capital Territory, (FCT) Nyesom Wike, was pivotal in the emergence of Bala Mohammed as Bauchi State governor in 2019. He made this known in an open letter he titled, “Gov Bala vs…
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