Naira plunges to 440 as dollar inflow drops

The naira was sold at the parallel market for 440 per dollar on Sunday, as the lingering foreign exchange scarcity increased to a new level. The local currency, which closed at 436/dollar on Thursday, eased […]

GSM TAX: BUHARI PUSHING HIS LUCK TOO FAR

A recent investigative report by Economic Confidential puts the total annual remuneration of President Buhari and his cabinet at N2.295billion. In the extensive report, President Buhari and his deputy, Professor Yemi Osinbajo enjoy a hardship […]

MORE TROUBLE | External reserves drop to $24bn

The country’s external reserves have depleted further to a record-low of $24.8bn, according to the latest data posted on the Central Bank of Nigeria’s website. The foreign exchange reserves fell by $600m in two weeks […]

Governors back sale of national assets

Governors have expressed support for the plan proposed by the economic management team to steer the nation out of recession. The economic team has proposed the sale of some of the nation’s assets to resolve […]

CBN holds interest rate

The Central Bank of Nigeria held its key interest rate on Tuesday, opting to reassure jittery currency investors rather than cutting rates to help growth. CBN governor Godwin Emefiele told a news conference in the […]

BREAKING: Inflation rises to 17.6%

The National Bureau of Statistics has said the Consumer Price Index which measures inflation increased year-on-year from 17.1 per cent in July to 17.6 per cent in the month of August. Data released by the […]

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