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The Central Bank of Nigeria’s (CBN) latest money and credit statistics indicate a notable upswing in the amount of currency in circulation (CIC), showing an increase of approximately N890 billion between September 2023 and December 2023. This surge, observed during…
The Federal Government (FG) and the Central Bank of Nigeria (CBN) have categorically denied any plans to convert $30 billion domiciliary deposits into naira, refuting recent reports that suggested such measures were being considered to address the foreign exchange (forex)…
Navigating Economic Challenges: Assessing the Impact of Potential Minimum Wage Increase in Nigeria. In response to the escalating inflation rate of 28.92%, President Bola Tinubu has initiated a committee to determine a new minimum wage for Nigerian civil servants.…
Oyo State’s OY-CARES Program: N10,000 Monthly Cash Transfers for Vulnerable Households. In an effort to alleviate the economic impact of the COVID-19 pandemic, the Oyo State government is set to distribute N10,000 monthly to 3,300 vulnerable households through the…
Nigeria’s Money Supply Reaches Record N78.74 Trillion in December 2023 In December 2023, Nigeria witnessed a historic high in its broad money supply, soaring to N78.74 trillion, marking a substantial year-on-year increase of 51% from the N52.16 trillion recorded in…
Naira Depreciation Threatens 2023 Dividends: Expert Insights on Impact and Strategies. In light of the recent free fall of the Naira and its potential repercussions on the capital market, some key insights from market experts shed light on the…
Impressive Surge: Nigeria’s Pension Industry Experiences Record N3.36 Trillion Growth in 2023. In a groundbreaking development, Nigeria’s pension sector witnessed an unprecedented surge, with total pension assets soaring by an impressive N3.36 trillion in 2023. The year concluded with…
Lagos State Ends 25% Palliative Discount on Transport Fares as Subsidy Removal Measures Conclude on Sunday, January 28, 2024. In a recent development, the Lagos State Government, operating through the Lagos Metropolitan Area Transport Authority (LAMATA), has announced the…
In the face of escalating security challenges, including killings, banditry, and kidnappings across Nigeria, there’s a distressing new trend – the use of crowdfunding to secure the release of abducted family members. This phenomenon has garnered global attention, with even…
U.S. Secretary of State Anthony Blinken Commits $45 Million to Address Security Challenges in Nigeria and West Africa. In a significant move to address the growing security concerns in Nigeria and neighboring West African countries, U.S. Secretary of State…
