According to Adetilewa Adebajo, Chief Executive Officer of CFG Advisory, Nigeria risks going in the direction of Zimbabwe and Venezuela if inflation is not curtailed.

JUST IN: CBN Raises Interest Rate to 26.75% Amidst Inflationary Pressures   The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has again increased the benchmark interest rate by 50 basis points from 26.25 per cent to 26.75 per cent. This was disclosed by...

Minimum Wage: Senate Seeks Inclusion of Domestic Servants   The Senate, yesterday, demanded the inclusion of domestic servants in the proposed N70,000 National Minimum Wage Scheme. The red chamber also justified the need for their compulsory documentation with a proposed federal agency for proper and adequate monitoring. The...

FG To Jail Defaulting Bank Executives Over Windfall Tax   The Federal Government has proposed the imprisonment of principal officers of banks who refuse to comply with the one-time windfall tax on banks’ foreign exchange profits in 2023. It also proposed a penalty of 10 per cent...

World Bank, AfDB Move To Invest $7.5bn In Nigeria’s Power Sector   The Minister of Power, Adebayo Adelabu, has said that the World Bank and the African Development Bank have concluded plans to invest $30bn in boosting electricity in Africa. Of this sum, Adelabu said Nigeria will...

Crude Oil Revenue Increases by N91bn in June – FG The marginal rise in crude oil production in June 2024 increased Nigeria’s earnings from crude oil sales by about N91bn in the same month. Latest oil production data obtained from the Nigerian Upstream Petroleum Regulatory Commission,...