Price of Local Rice Rises 73% in 2023 – NBS The increasingly high cost of production, transportation and other factors have caused the price of one kilogramme of local rice to jump by 73.2 per cent in one year. This happened despite a multi-billion naira funding...

Obasanjo Criticises FG on N88tn Debt Burden, Says Relief Mismanaged Former President Olusegun Obasanjo says Nigeria and other African countries may find it difficult to secure debt relief considering their large debt profiles. Obasanjo also indicated that the debt relief secured by Nigeria from the Paris...

Professor Moghalu and the Limit of Self-righteousness By Temitope Ajayi I continue to find it quite amusing how Professor Kingsley Moghalu and others like him have managed to convince themselves that their period in government was the 'golden era of competence' in the management of the...

Why CBN Barred Crypto Bank Account Operators from Cash Withdrawal The Central Bank of Nigeria has instructed banks to decline cash withdrawals from accounts opened for virtual and digital assets transactions due to its new regulations aimed at providing standards for the banking sector. Withdrawals from...

Banks Borrow N17.85tn from CBN in 2023 Commercial and merchant banks borrowed a whooping N17.85 trillion from the Central Bank of Nigeria (CBN) to meet their daily business obligations amid macro economic challenges in 2023. This presents an increase of 60 per cent over the N11.15...

External Reserves Fall $77m in December The external reserves of Africa’s largest economy recorded a drop to the tune of about $77.23m or 0.23 per cent in December 2023 due to the lingering foreign exchange instability in the country. As of December 28, 2023, according to...