Economy
The Central Bank of Nigeria (CBN) has set a daily withdrawal limit of N100,000 per customer on point-of-sale (PoS) terminals. The restriction, in line with the apex bank’s ongoing efforts to advance a cash-less economy, will help address identified challenges, combat fraud and establish uniform operational standards across the industry. The restriction was contained in […]
Osun State Government has disclosed that the payment of the Seventy – Five Thousand, Five Hundred and Forty naira, twenty eight Kobo, #75,540: 28k New minimum wage for its workers ,would take effect from 1st December, 2024, with one month Arrears. Also, The Sum of Twenty – Five Thousand Naira has been approved for Pensioners […]
Oyo State governor, ‘Seyi Makinde, will present the 2025 Appropriation Bill to the Oyo State House of Assembly, on Wednesday, 13 November. The governor will present the Budget estimate to the lawmakers at an event scheduled to hold at the House of Assembly Complex, Secretariat, Agodi, Ibadan. The presentation is coming on the heels of […]
The Chairman of the Nigeria Labour Congress in Oyo State, Kayode Martins, on Thursday, commended Governor Seyi Makinde for approving N80,000 minimum wage for workers. The PUNCH reports that the Commissioner for Information and Orientation, Dotun Oyelade, announced in a statement, in Ibadan, on Wednesday, that the technical committee set up by the government recommended […]
The Federal Government has dismissed insinuations that the Lagos-Calabar coastal highway is another mere political contract but a reality to boost the economy of the states within the highway and the nation. The minister of works , Mr David Umahi stated this during a stakeholders engagement on the alignment of Ondo state 63 kilometre part […]
The Central Bank of Nigeria has described the information suggesting that old Naira notes shall cease to be a legal tender by December 31st this year as false and misleading. The CBN in a statement expressed the belief that the misleading information is a calculated effort to disrupt the country’s payment system. “The attention of […]
The House of Representatives asks the Central Bank of Nigeria, CBN, to withdraw old currency notes and increase the issuance of new ones. The House urged the CBN to increase the supply of newly minted N200, N500, and N1,000 notes, while also initiating a phased removal of the old currency from circulation. The House has […]
The Federal Government has halted the export of domestically produced cooking gas, in order to prioritize supply for local consumption, with effect from November 1, 2024. The Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, made an announcement on Tuesday regarding a measure aimed at easing the escalating costs of gas. This initiative is […]
In it’s quest to alleviate the sufferings caused by the subsidy Removal the federal government has officially commissioned a CNG Conversion Center at Gundutse ,Kura local government Kano. Speaking during the opening ceremony Director General Chief Executive National Automotive Design And Development Council Mr. Oluwemimo Joseph Osanipin said the initiative would go along way in […]
Droughts contribute to 15 per cent of disaster-related economic losses and are responsible for 85.8 per cent of livestock deaths globally. This is according to a report by the United Nations Convention to Combat Desertification, UNCCD and the Food and Agriculture Organization of the United Nations, FAO. The Report also stated that Women and girls […]
