Cedrus Group: CBN Reforms Will Yield Results In Q2 On Thursday, the Chief Executive Officer of Cedrus Group Africa, Olubusayo Adeniyi, stated that the reforms and policies of the Central Bank of Nigeria (CBN) will start yielding results from the second quarter of 2024. Speaking at...

Rising Inflation Poses Risk To New Minimum Wage President Bola Tinubu has set up a committee to decide on the new minimum wage for Nigerian civil servants, however, concerns have been raised regarding the country’s rising inflation which is currently at 28.92%. Economists believe the implementation...

NRC Generates N287m From Cargo Haulage In Three Months – NBS   The Nigerian Railway Corporation (NRC) earned N286.78m from cargo transported by rail in the third quarter of 2023, according to the National Bureau of Statistics. NBS in its latest rail transportation report stated that this...

FG Spends Over N5trn To Cover Electricity Subsidy In 10 Years   The federal government’s effort to subsidise electricity tariff for Nigerians has seen it cough out over N5 trillion in the last 10 years amounting to over 664 per cent growth, data from the Nigerian...

NNPCL To Pay Taxes, Royalties From $3.3bn Afrexim Loan   The Nigerian National Petroleum Company Limited (NNPCL) on Sunday, said it would prepay future royalties and taxes to the Federal Government from the $3.3bn financing deal it got from African Export-Import Bank last year. NNPCL disclosed this...

CBN Reveals Foreign Medical, School Bills Gulped $1.58bn In Six Months   Nigerians spent $1.58bn on health tourism, foreign education, and other personal matters in six months, data from the Central Bank of Nigeria have revealed. The data from the apex bank’s Balance of Payment compilation spanning...