The Central Bank of Nigeria (CBN) has approved the sale of Foreign Exchange (FX) to eligible Bureau De Change (BDC) operators to address the demand for invisible transactions. Each BDC will receive $20,000 at a rate of N1,450/$, which is the lower band of the trading rate at the Nigerian Autonomous Foreign Exchange Market (NAFEM) […]
The Nigeria Labour Congress (NLC) President, Joe Ajaero, and the Trade Union Congress (TUC) President, Festus Osifo, have explained that the decision to accept ₦70,000 as the new minimum wage for Nigerian workers was influenced by a shift in the wage review cycle. Instead of every five years, wage reviews will now occur every three […]
The Minister of Information, Mohammed Idris, announced that the Federal Government and the leadership of the Organised Labour have agreed on ₦70,000 as the new minimum wage for Nigerian workers. Idris stated that the agreement was reached during a meeting between President Bola Tinubu and the leaders of the Nigeria Labour Congress (NLC) and the […]
The House of Representatives on Wednesday passed a bill through the first reading that proposes a single six-year term for the President, State Governors, and Local Government Area Councils. This bill aims to reduce government spending, increase efficiency, and promote national stability. Sponsored by Hon. Ikenga Ugochinyere, Chairman of the House Committee on Petroleum Resources […]
On Wednesday, the Senate deliberated on amendments to the 2023 Finance Act, focusing on taxing foreign exchange gains reported by banks to fund national projects. The Senate also reviewed a bill to amend the 2024 Appropriation Act, proposing an increase in public expenditure from ₦28.7 trillion to ₦34.9 trillion, marking a 21.6% rise. Senate Leader, […]
The National Examination Council (NECO) has released the results of the 2024 National Common Entrance Examination (NCEE) for candidates seeking admission into Federal Government Colleges. Additionally, the results for the 2024 entrance examination into the Federal Government Academy in Suleja, Niger State, have also been announced. The Minister of State for Education, Dr. Tanko Sununu, […]
Harry Kane’s tears at the end of England’s 2-1 defeat to Spain in the Euro 2024 final encapsulated the agony of another missed opportunity for the national team and its captain. The Bayern Munich striker watched in despair after being substituted before Mikel Oyarzabal’s decisive goal just four minutes from time. Kane, who had only […]
The Federal Government has repatriated 190 Nigerians from the United Arab Emirates (UAE). According to a statement from the National Emergency Management Agency (NEMA), signed by its Director General, Bashir Garga, the returnees arrived at the Nnamdi Azikiwe International Airport, Abuja, at 5:57 AM on Tuesday. A team of government officials led by NEMA received […]
The Federal Government has distributed 20 trucks of rice to each of the 36 states and the Federal Capital Territory (FCT), Abuja, in a bid to tackle the nation’s food shortage. This was disclosed by the Minister of Information and National Orientation, Mohammed Idris, following Monday’s Federal Executive Council (FEC) meeting. Idris emphasized that this […]
Nigeria’s inflation rate has surged to a new high, reaching 34.19% in June 2024, according to the latest data from the National Bureau of Statistics (NBS). This marks a 0.24 percentage point increase from the 33.95% inflation rate recorded in May 2024. “In June 2024, the headline inflation rate increased to 34.19% compared to the […]
