CBN reverses course and raises the limit for cash withdrawals to N500,000

23 Dec 2022

The Central Bank of Nigeria (CBN) revised the cash withdrawal limits on Wednesday to N500,000 for individual accounts and N5,000,000 for corporate accounts, respectively.  The stipulated percentage charge for withdrawals that exceed the limits was also reduced by the apex bank. This was announced in a statement on Wednesday by the Director of Banking Supervision […]

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Aviation fuel scarcity worsens

22 Dec 2022

Domestic airlines under the aegis of the Airline Operators of Nigeria have warned Nigerians of impending disruptions in scheduled flight operations due to the scarcity of aviation fuel otherwise known as JETA1. The AON in a statement signed by its spokesman, Prof Obiora Okonkwo, said the scarcity would force airlines to reschedule flights, leading to […]

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Bauchi senior citizens starts receiving entrepreneurship training by NDE and NSCC

17 Dec 2022

Seven senior citizens in Bauchi have started receiving entrepreneurship development training from the National Directorate of Employment (NDE) in partnership with the National Senior Citizens Centre (NSCC). This was said by Malam Abubakar Fikpo, Director General of NDE, on Friday in Bauchi at a one-day training session for senior citizens. Fikpo stated that the NDE […]

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80 Bauchi women will be empowered in agribusiness by SMEDAN

17 Dec 2022

Eighty women in the agribusiness sector will receive five days of training from the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) in Bauchi State. This was said at the training’s closing ceremony in Bauchi on Friday by Mr. Olawale Fasanya, Director General of SMEDAN. He claims that the program was started under the […]

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The Biden administration has committed $55 billion to Africa over the next three years

15 Dec 2022

It comes amid fierce competition for influence and opportunity in Africa, where China has long dominated foreign investment. President Joe Biden also stated that the United States is “all in on Africa’s future,” adding that “when Africa succeeds, the United States succeeds.”  President Joe Biden stated at the ongoing US-Africa Leaders Summit in Washington that […]

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Ghana To Borrow $3 Billion From IMF

14 Dec 2022

The International Monetary Fund (IMF) announced on Tuesday that Ghana had agreed to a $3 billion credit agreement. Ghana’s resolve not to seek the fund’s assistance for the 17th time crumbled in July, according to Finance Minister Ken Ofori-Atta, after soaring inflation sparked widespread street protests.  The proposed three-year loan is expected to be approved […]

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Fuel scarcity: Following NNPCL approval, 20 oil companies have become major marketers

13 Dec 2022

The Nigerian National Petroleum Company Limited, NNPCL, has upgraded the status of 20 oil marketers to major markets in an effort to alleviate the difficulties associated with the sales and marketing of petroleum products. This is the first upgrade in 25 years, and there were only seven major oil marketers in Nigeria at the time, […]

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Nigeria’s Public Debt Exceeds N44 Trillion; DMO Explains

09 Dec 2022

According to the Debt Management Office (DMO), Nigeria’s public debt reached N44.6 trillion in the third quarter (Q3) of 2022. According to a statement posted on the DMO’s website on Friday, the figure released represents a 2.9 percent quarter-on-quarter decrease from the N42.84 trillion recorded in the second quarter of 2022.  According to the agency, […]

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Newly redesigned naira now in Banks, ready for insurance- Emefiele

09 Dec 2022

The Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, says the newly redesigned Naira notes are already in banks and ready for issuance. According to a statement in CBN’s official twitter handle, Emefiele said so in Daura while on a visit to brief President Muhanmadu Buhari on the Naira redesign and the […]

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