Zimbabwe launches new gold-backed currency
Zimbabwe has introduced a new gold-backed currency called ZiG – the name stands for “Zimbabwe Gold”. It is the latest attempt to stabilise its economy. Unveiling the new notes, central bank governor John Mushayavanhu said the ZiG would be structured, and set at a market-determined exchange rate. The ZiG replaces a Zimbabwean dollar, the RTGS, […]
Amidst the current challenges Nigerian economy is not distressed
President Bola Tinubu on Tuesday, said Nigeria is currently facing challenging times but its economy is not distressed. The President, represented at the event by Minister of Information and National Orientation, Mohammed Idris, spoke at the 16th edition of the Leadership 2023 conference and Awards, saying the country is facing some challenges but not helplessness. […]
Nigeria Customs suspend sale of seized food items over stampede
The Nigeria Customs Service (NCS) has suspended its food disposal initiative following a stampede that claimed seven lives on February 23, during the distribution of 25Kg bags of rice at its Zonal Headquarters, Yaba, Lagos State The service announced the suspension in a statement by its National Public Relations Officer, Mr Abdullahi Maiwada, noting that […]
ECOWAS lifts Niger sanctions on ‘humanitarian grounds’
The Economic Community of West African States (ECOWAS) has resolved to lift travel, commercial and Targeted economic sanctions imposed on Niger that were aimed at reversing the coup staged in the country last year. Reading the communiqué after the extraordinary summit on the peace, political, and security situation in the ECOWAS sub-region in Abuja on […]
PDP governors urge Federal Government to address insecurity, economic hardship
Governors elected on the platform of the Peoples Democratic Party (PDP), on Monday, restated their position on state policing, as the solution to the country’s worsening security situation. The Chairman of the Forum, Governor Bala Mohammed of Bauchi State, who briefed journalists after a meeting of the governors in Abuja, says the governors also decried […]
EFCC raises special taskforce against dollarisation of economy
The Economic and Financial Crimes Commission (EFCC), has raised a Special Task Force in all its Zonal Commands to enforce extant laws against currency mutilation and dollarization of the economy. Its Spokesperson, Dele Oyewale, in a statement yesterday said the Task Force, inaugurated by the Chairman of the Commission, Mr Ola Olukoyede, is to protect […]
CBN Governor promises Nigeria’s inflation rate will drop in 2024
The CBN Governor, Yemi Cardoso, says Nigeria’s inflationary pressure will drop from 28.92 per cent to 21.4 per cent in 2024. Speaking during his addressed to the House of Representatives, Cardoso said the projected decline in the country’s inflationary is due to inflation-targeting policies of the Federal Government, and improvement in agricultural productivity as well […]
FG sets machinery in motion to help curtail the hardship experienced by citizens
Worried by the rising cost of living and worsening food crisis in Nigeria, resulting in protests in parts of the country, the federal government has set the machinery in motion to intervene in order to ameliorate the hardship experienced by citizens. Addressing newsmen after a meeting of the Special Presidential Committee on Emergency Food Intervention […]
The Omniverse Summit Takes the Digital Economy Center Stage in Lagos, expecting 20,000 leaders
Tech, Creativity, and Entrepreneurship Unite: The Omniverse Summit Takes the Digital Economy Center Stage in Lagos, expecting 20,000 leaders The Omniverse Summit will feature four (4) days of meaningful programming focused on actionable outcomes at Landmark Centre Lagos from February 27 – March 1, 2024 LAGOS, Nigeria, January 11, 2024/ —Â The Omniverse (https://TheOmniverse.africa/), a dynamic […]