Minimum Wage: FG, NLC Reach New Agreement The federal government and organised labour have agreed on the fixing of a new minimum wage that is above N60,000. The agreement was reached at the end of a meeting held on Monday between leaders of the Nigeria Labour...

FG Offers Credit Facilities to Large Businesses at 9% Interest Rate – Finance Minister The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has said that the federal government is providing up to N1 billion in credit facilities to large enterprises, including...

FX Reserves Fall by $1.8bn in 10 Weeks – CBN Nigeria’s foreign exchange reserves have fallen by $1.8bn in 10 weeks, according to data from the Central Bank of Nigeria (CBN). As of May 29, 2024, the country’s FX reserves stood at $32.69bn, down from $34.44bn...

Debt Management: CBN Calls for Transparency, Training for Professionals The Central Bank of Nigeria (CBN) has emphasised the importance of transparency in debt management and borrowing activities to build trust with investors, creditors, and the public. The CBN Governor, Olayemi Cardoso, made the call in Abuja,...

After License Revocation NDIC Commences Liquidation of Heritage Bank The Nigeria Deposit Insurance Corporation (NDIC) on Monday said it commenced the liquidation of Heritage Bank Plc, following the revocation of the banking license of the Bank by the Central Bank of Nigeria (CBN) on Monday,...

CBN Lifts Restriction on Opay, Monieponit, Others The Central Bank of Nigeria (CBN) has lifted its ban on OPay, Moniepoint, Kuda, Palmpay, and Paga, clearing the way for the fintechs to resume onboarding new customers. Recall that CBN directed fintech companies to pause enrollment of new...